According to research firm Chainalysis, just under 5% of cryptocurrencies released in 2024 fell victim to pump and dump scams.
In 2024 was created over 3 million digital assets, and the trading patterns of 4,52% of them have signs of a pump and dump. Thus, at least 135,600 tokens were manipulated. The rate of these coins was deliberately inflated in order to sell them at a high price at the peak. As a result, the value of virtual currencies fell sharply, which brought huge losses to many investors.
Chainalysis didn't name any specific tokens, but the chart they published suggests that the scammers became active in April 2024, when the crypto market was calm, and went into hiding during the November bull run. This suggests that the prevalence of pumps and dumps is independent of the digital asset market.
Number of released in networks Ethereum , Base and Binance Smart Chain of Cryptocurrencies That Have Been Pumped and Dumped
It is noteworthy that the overwhelming majority of cryptocurrencies that appeared last year quickly died. This is evidenced by the fact that only 1,7% of issued tokens continued to be actively traded during 2024. Decentralized exchanges did not list 57,5% of coins, and 40,8% were added to trading platforms, but were not in demand by traders at all.
On the one hand, many cryptocurrency projects are abandoned after a short period of time due to lack of interest or failure to gain traction. On the other hand, some digital assets are created to pull off short-term schemes based on the initial wave of hype, — concluded the employees of Chainalysis.
