Blockchain analytics platform Bubblemaps has revealed that 80% of the OVPP token supply is controlled by a small group of holders. The top 150 wallets received funding simultaneously at 6:00 PM CET on August 21st, just days before the token's launch, allowing them to invest at the initial public offering. Notably, wallets linked to major platforms hold significant portions: Coinbase-associated wallets hold 10%, Union Chain 10%, ChangeNOW 20%, and Binance 40%.
This centralization of OVPP tokens has raised concerns, especially following previous claims by on-chain detective ZachXBT that OpenVPP falsely advertised cooperation with the US government. However, SEC commissioners have clarified that they are not involved with the project.
80% of OVPP Token Supply Controlled by Top Holders
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