Solana AI Token Ava Faces Launch Sniping Linked to Deployer: Bubblemaps

The launch of the Solana-based AI token Ava has raised concerns regarding suspected insider coordination. According to blockchain analytics firm Bubblemaps, a group of 23 wallets linked to Ava's deployer accumulated approximately 40% of the token's total supply at its launch. The activity suggests possible market manipulation, as these wallets executed synchronized purchases using funds from exchanges like Bitget and Binance.

Key Takeaways

Approximately 40% of Ava's supply was acquired by a cluster of 23 wallets associated with the token's deployer at launch.
The term "sniping" refers to using automated trading bots to buy tokens immediately after they become available, aiming for a lower purchase price.
The AVA token has seen a significant decline of over 79% since its launch, and a staggering 96% drop from its all-time high.
Bubblemaps utilizes its Time Travel feature to identify coordination among wallets and detect early insider trading activities.

Solana AI token Ava hit by launch sniping tied to deployer: Bubblemaps

Insights into Ava's Launch

Blockchain analytics team Bubblemaps has reported that a specific group of 23 wallets connected to the deployer of Ava, a new Solana-based AI token, claimed around 40% of the total supply right at the launch. This situation has ignited concerns regarding the potential for insider dealings surrounding the token's introduction.

According to a post by Bubblemaps on Thursday, the identified sybil wallet cluster exhibited consistent patterns, including receiving funding within a short timeframe from exchanges like Bitget and Binance, all while maintaining a lack of prior blockchain activities before securing the Ava AI (AVA) token at launch. They noted, "Wallets connected to these snipers also acquired $AVA early, with similar funding sources, amounts, and timings indicating strong coordination between clusters."

In the crypto world, "sniping" refers to the strategy of employing trading bots to instantly purchase newly available tokens at favorable prices before the broader market can react.

Although the Ava token launched on the memecoin platform Pump.fun, which intended for a decentralized and community-driven introduction, the clustering of wallet activities indicates that a single entity may have amassed 40% of the token's supply.

Source: Bubblemaps

Understanding the Risks of Token Concentration

High concentrations of token supply within a limited number of wallets can be a flag for possible fraudulent activities like "rug pulls." Such schemes can see insiders withdraw liquidity or conduct mass sell-offs, causing sharp price declines and leaving investors holding nearly worthless tokens.

The investigative capabilities of Bubblemaps include the Time Travel feature, which was introduced in May, allowing Web3 users to analyze the historical allocation of tokens to uncover signs of early insider activity.

AVA Token's Price Performance

The buying activities were uncovered more than a year after Ava's launch on November 13, 2024. The AVA token achieved a fully diluted valuation (FDV) of approximately $300 million by January 2025, which positioned it as a notable utility token centered around autonomous AI agents on the Solana blockchain.

However, recent figures from CoinGecko indicate that the AVA token has plummeted more than 79% since its launch and has dropped an alarming 96% from its all-time high of $0.33, reached on January 15, 2025.

Source: Bubblemaps

Ava, informally known as "the HOLO AI intern," was the first AI agent developed on the Holoworld AI decentralized launchpad. This platform empowers users to create, engage with, or financially support AI applications that respond to agentic actions. Holoworld has reported over 1 million users and 700,000 AI "creations" to date.

Cointelegraph has reached out to Holoworld for their statement regarding the sybil wallet cluster's actions during the token's launch period.

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