NDV Co-founder Christian: Cheems Address Trace Shows Little Whale Profiting, Will Continue to Rebuild Consensus

BlockBeats News, November 25th, NDV co-founder Christian posted on social media, stating, "Many friends have privately messaged me about the Cheems contract incident, some congratulating, some puzzled. Now I can finally take the time to sort out the cause and effect, hoping to communicate more openly with the community and continue to rebuild consensus.

Tonight, seeing the listing news was shocking because no one had mentioned this to me in advance. I asked the official team, and they were also completely unaware of this listing news. Analyzing the reason for the plunge, it was found that the 'whale' address that entered during the pump on the 19th kept pushing up the price, coupled with bots on BSC, creating millions of dollars in selling pressure in the short term until the bottom was caught.

We won't maliciously speculate whether these large buys after the fact had insider information from the 'whale' address or if they were simply speculative buyers following the trend. But ultimately, the consensus on the Cheems token was not strong enough for a market cap range of 2-3 billion dollars; it was propped up by unrealistic listing expectations (spot), and the subsequent sharp drop was inevitable once those expectations were not met.

I know some may suspect that it was a coordinated exit by a 'whale' (either me or some other large holder) to harvest gains and leave. But I believe my friends would know that, on the one hand, such actions would harm community trust, and on the other hand, tracing the addresses would reveal that these addresses did not really profit.

Returning to my personal thoughts, what should have been a positive listing announcement instead led to a shameful large red candle, which was a blow to the community. However, it is also an episode in this story. Overall, liquidity has still greatly improved, and the high trading volume indicates that everyone's trading enthusiasm is still high, and the community genuinely has consensus. The frenzy in the BSC ecosystem cannot rely on unrealistic expectations and community building needs to proceed step by step.

I do not believe that a contract is the opposite of spot; there are only failed projects and failed communities, only large holders and 'whales' without vision using the contract as an exit strategy, and some 'whale' address behaviors that contributed to the recent bearish sentiment on contracts. But this in itself is not wrong. Setting aside emotions, being able to analyze logically is more genuine.

I will always persist, and we will continue to move forward. I am delighted to see the community filled with encouragement and positive energy."