A resounding claim on SatoshiVM (SAVM): Mass advertising!

SatoshiVM (SAVM), which many influencers also promoted on social media, allegedly sent 11.5% of the total token supply to 248 content producers.

Scandalous allegations have begun to emerge for SatoshiVM, which crypto investors have turned to in anticipation of the airdrop and potential upside. The other day, blockchain researcher ZachXBT issued a warning about SatoshiVM.

On-chain researcher Lookonchain claimed that SatoshiVM sent 11.5% of the total supply to 248 content creators.

ZachXBT’s comments and Lookonchain’s findings pointed the bull’s eye at SatoshiVM.

Arrows turned to SatoshiVM (SAVM)

SatoshiVM (SAVM), which offers a layer-2 solution on the Bitcoin (BTC) network, attracted great attention with its launch. SAVM rose to over $10 shortly after its launch.

SAVM, which crypto investors turn to especially due to its project details, has entered the radar of blockchain observers ZachXBT and Lookonchain.

Drawing attention to the fact that content producers serve the same content about SatoshiVM, ZachXBT said in his X post, *“Keep in mind that when influencers with a large number of followers start announcing a project launch at the same time, it is most likely because they have allocations (bought tokens from the project) and will throw (sell) their cheap tokens to you.” *Said.

Remember when influencers with a lot of followers start shilling a project launch at the same time it is likely bc they have allocation and will dump their cheap tokens on you. pic.twitter.com/k71P2m3pso

— ZachXBT (@zachxbt) January 19, 2024

ZachXBT’s post attracted a lot of attention in a short time. The content was viewed by 1.4 million people and received thousands of likes. A crypto investor donated $10,000 to ZachXBT for this kind of work.

Another blockchain researcher, Lookonchain, also took aim at SatoshiVM. In a post on X, Lookonchain announced that SatoshiVM sent 1,217,818 SAVM ($10.5 million) to 248 content creators. These tokens account for 11.5% of the total supply of SAVM. Therefore, it is thought that it can create a great deal of selling pressure.

SatoshiVM transferred 1,217,818 $SAVM($10.5M, 11.5% of the total supply) to 248 influencer addresses including @ThorHartvigsen.

Currently, these 248 addresses still hold 483,493 $SAVM($4.16M), and 734,325 $SAVM($6.32M) was transferred or sold. pic.twitter.com/QViWKCjhwb

— Lookonchain (@lookonchain) January 20, 2024

Lookonchain, which examines the addresses, said there are currently 483,493 SAVM ($4.16 million) left in 248 wallets. According to the analysis, 734,325 SAVM ($6.32 million) were sold or sent to other wallets.

It is thought that SatoshiVM carried out a great advertising work and had the investor base behind it when it was launched. Although there were reactions to the project, no price decrease was observed on the SAVM side.