Arkham Intelligence Launches Tool to Track Crypto Influencers’ Wallets
Arkham Intelligence launched a tool to track wallets of crypto influencers, enhancing industry transparency. The Key Opinion Leader (KOL) Label monitors holdings of influencers with over 100,000 followers on X, revealing their genuine investment intentions versus paid endorsements.
Key points include:
- The tool aims to help distinguish between authentic recommendations and potential pump-and-dump schemes.
- Critics argue it may be misleading as influencers often use multiple wallets.
- Reports indicate that nearly 75% of influencer-backed tokens fail within months.
- Influencers with larger followings often promote poorly performing tokens.
- Concerns arise about the ethical responsibility of influencers who profit from promotions while selling off holdings.
- Arkham's tracking can alert investors if an influencer dumps a token shortly after promotion.
- Crypto leaders advocate for thorough research rather than reliance on influencer endorsements.
- Experts recommend evaluating social engagement, project fundamentals, and token structure before investing.
This tool could hold influencers accountable for their promotions, but its long-term impact on market ethics remains uncertain.