Analysis: CVX's over 40% price increase is attributed to a pump and dump scheme, with bot wallets continuously buying to drive up the price

BlockBeats News, January 5th, DeFi analyst @lordjorx stated that the over 40% price surge of CVX (Convex Finance) was a result of manipulation, driven almost entirely by two specific bot wallets constantly buying to boost the price. Two addresses among the Top 100 holders have used this surge as an "exit," selling 25% and 34% of their holdings, respectively, while the wallets fueling the rally are now either emptied or have transferred funds.

Analyst @lordjorx further noted that he holds a positive fundamental view on the Curve Finance and Convex Finance ecosystems, but alongside this optimism, users should also understand the "game theory" and avoid becoming "liquidity exits." Users are advised to remain vigilant and verify on-chain data.