Arkham Intelligence, an analytical platform, has introduced a new feature allowing users to track wallets related to crypto influencers. This feature comes as a new wave of memecoins is expanding with the help of token launch platforms. In this update, the label KOL (Key Opinion Leaders) has been assigned to influencers with over 100,000 followers on X, and the addresses of their related wallets are provided. According to an official announcement, this feature helps users understand whether influencers truly believe in the tokens they advertise or are just promoting them for payment. Reports indicate that 76% of tokens advertised by influencers lose over 90% of their value in less than three months. Some influencers receive up to $399 per promotional post, leading them to sometimes compromise credibility for financial gain. Data also shows that the higher the number of an influencer’s followers, the higher the likelihood of devaluation of the advertised tokens. For instance, influencers with over 200,000 followers usually cause the most losses to investors. Recently, blockchain researcher ZachXBT revealed that 16 influencer accounts on X have participated in pump and dump schemes, causing losses to their followers. However, the new Arkham tool now allows investors to investigate whether influencers sell tokens after advertising them or truly trust these projects. Prominent figures like Justin Sun, founder of Tron, always emphasize the importance of conducting thorough research on project fundamentals, tokenomics, and risk management before investors buy any tokens. On the momentary price page of digital currencies, you can view the prices of all tokens and cryptocurrencies live and in real-time.
