40% AVA AI Coin Genesis Supply ‘Cracked’, Claims Bubble Maps
Blockchain analytics firm Bubblemaps' Solana-based AI token Ava, a cluster of 23 wallets connected to the blockchain, held 40% of its token offering at launch, raising new questions about internal coordination surrounding the project's initial launch.
The Sybil wallet cluster linked to the arrester shared similar patterns, including short-term funding through Bitget and Binance, receiving the same amount of Solana (SOL) and no blockchain activity prior to the purchase of the Ava AI (AVA) token offering at launch, Bubblemaps revealed in a Thursday X post.
“Other wallets linked to these shooters also bought $AVA earlier. Similar funding sources, amounts and timing strongly suggest coordination across these clusters,” he said.
In crypto slang, sniping refers to the hiring of crypto trading bots to immediately buy a new supply of tokens with the aim of buying them at a lower price before the public.
The token was launched on the memecoin startup platform Pump.fun, which aims to be a decentralized, community-driven startup, with wallet cluster activity pointing to acquisitions that have led to one party holding 40 percent of the token's supply.
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A large token supply concentrated in a few wallets helps investors detect scams such as carpet-dragging, where insiders eliminate liquidity or organize mass sales, which result in massive price collapses that leave investors with worthless tokens.
The coordinated activity was launched in May with the Bubblemaps Time Travel feature, a forensic level analysis tool that allows Web3 users to reconstruct the historical distribution of tokens with the aim of identifying early insider activity.
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AVA AI token is down 96% from its all-time high
The combined purchase activity was announced one year after the launch of the AVA token on November 13, 2024. The token reached a fully-diversified value (FDV) of $300 million in January 2025, making Solana a popular autonomous AI agent utility token.
The AVA token is up more than 79% since its launch and more than 96% from the all-time high of $0.33 breached on January 15, 2025, CoinGecko data shows.
Ava, also known as a “HOLO AI intern”, is the first AI agent developed on the decentralized AI startup Holoworld AI. The platform allows users to create, play, or fundraise for representative AI applications.
Holoworld claims to have more than 1 million users and 700,000 AI “creations” to date.
Cointelegraph approached Holoworld to comment on Sybil wallet cluster activity during the token launch.
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