COINOTAG News reported on December 26 that, according to onchainschool.pro monitoring, the Everlyn LYN team engaged in suspicious activity described as wash trading via multiple new addresses on the DEX ecosystem to lift the token price. The report attributes the behavior to coordinated buy flows rather than organic demand.
Traders note the accumulation of approximately $700,000 in LYN tokens across new wallets, with the intensity of the buys accelerating about four days ago and initial purchases dating back roughly a month. These patterns have attracted market attention, though no formal regulatory conclusions have been reported.
With LYN currently quoted around $0.12187, the token has posted a 24-hour gain near 22.1%. Investors should monitor for further disclosures and await independent verification of these activity signals, as liquidity and market depth can quickly shift in volatile crypto environments.
Source: https://en.coinotag.com/breakingnews/everlyn-lyn-wash-trading-on-dex-sparks-22-price-jump-to-0-12187-as-700k-worth-of-lyn-tokens-accumulated
