These days, the NFT community is debating whether there might be a secret group of insider traders in the space. Collectors are bringing their own theories to the table, along with allegedly “flagrant” evidence.
In essence, more and more people believe that some privileged NFT whales (and other individuals) know important information before everybody else does. But is that so?
The NFT community, concerned about insider trading groups
Just a week before Azuki holders were airdropped free tokens, its NFT floor price went up. While many collectors didn’t make a big deal out of it, for others, this was great evidence.
Accordingly, a group of anonymous insider traders gets valuable information about upcoming drops, collabs, and more, beforehand. Based on this theory, some NFT collectors believe these individuals are always one step ahead, which increases their income tremendously.
These are the main projects the Twitter NFT community is discussing:
The tweet shown above by NFT collector Keef quickly became a hub of conspiracy theories.
For example, users debated the predictability of the Azuki airdrop. The floor price of the collection started climbing just a week before the project airdropped tokens to its NFT holders. However, many people claim the event was easy to predict based on previous hints the Azuki team gave via Discord.
Did some collectors know about RTFKT’s success beforehand?
However, one particular user tweeted several 2021 screenshots regarding the Clone X insider trader theory. Back in 2021, Twitter user @sarah1of1 (whose account no longer exists) revealed she invested all of her net worth into the RTFKT Clone X NFT collection. This happened shortly before the project skyrocketed into popularity thanks to its partnership with Nike.
Here’s the tweet:
Allegedly, Sarah1of1 might’ve been part of the mysterious insider trader NFT group. However, NFT collector @HawkwardArt said that she was in fact “caught transacting with someone who is cousins with someone on the team.”
So far, we couldn’t verify the information. Nevertheless, it goes to show just how interested the NFT community is in the idea of a secret group of NFT traders.
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All investment/financial opinions expressed by NFTevening.com are not recommendations.
This article is educational material.
As always, make your own research prior to making any kind of investment.
