The Evmos team has taken to Twitter claiming that a departed co-founder is trying to sell the tokens on the Osmosis exchange.

High token concentration with some specific wallets has always been a concern with various crypto projects.

The Evmos co-founder, who left the project over some disagreements, has been allegedly selling the tokens and causing panic among community members.

144,000 Evmos Tokens Sold

According to Web3 data analytics, Jessica, the co-founder has sold over 144,000 tokens since April 30. But, out of 9.4 million Evmos sold on the decentralized exchange (DEX) Osmosis, the co-founder’s selling makes up just 1.5% of the total tokens sold in the time frame.

The rest of the selling pressure could be due to the community panicking over the co-founder’s activity.

Evmos is an Ethereum Virtual Machine (EVM) project based on the Cosmos ecosystem.

Community Frustrated Over Huge Concentration of Tokens 

In a Twitter Go to Source to See Full Article
Author: Harsh Notariya

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details