The altcoin market has been facing increasing FUD (fear, uncertainty and doubt) plays lately. These games are often played through misinformation or rumors that are deliberately spread to drive down the prices of rival cryptocurrencies. The last example targeted the Arkham (ARKM) platform behind the altcoin ARKM. Leading cryptocurrency analysis platform Arkham has responded to accusations made recently by two of its rivals. Arkham officials claimed that their competitors were spreading false rumors about ARKM movements in an attempt to create FUD within the community. In this news, we will examine the accusations of Arkham’s competitors and analyze the platform’s statements.
Altcoin project responded to the accusations
Leading cryptocurrency analysis platform Arkham (ARKM) has responded to recent accusations. Arkham officials claimed that their competitors were spreading false rumors about ARKM movements in an attempt to create FUD (fear, uncertainty, and doubt) within the community. Arkham, which is also listed on Binance, clarified that the discussed ARKM transfer transactions, like all ARKM transfers made to date, are unlocked tokens according to published tokenomics. Attention was drawn to two important transfers that were the subject of discussion:
1. 20 million ARKM sent from the Foundation Treasury to a separate wallet: This move was confirmed in the first and most recent Arkham management bid. As stated in tokenomics, all of these tokens are available for use. Of the 172 million ARKM allocated, 152 million remained in the Foundation Treasury. The 24 million ARKM in the treasury has been unlocked but has not yet been voted on in a management proposal.
2. 5 million ARKM was withdrawn from the ecosystem fund: These tokens were unlocked according to published tokenomics, which the Ecosystem Fund will unlock over 5 years, starting with 70 million tokens at launch. The Ecosystem Fund currently has 260 million ARKM, which is more than the number of tokens locked. Arkham concluded their response by saying, “We spend our time improving our product, not responding to people on the internet, but there were serious false rumors spreading so we addressed them.”
FUD tension in the crypto market
The accusations of Arkham’s rivals can be seen as an example of the FUD prevalent in the cryptocurrency market. FUD refers to misinformation or rumors that are deliberately spread to scare investors and create uncertainty. These types of tactics are often used to reduce the price of a cryptocurrency. Arkham’s statements show that it acted in accordance with tokenomics and that its opponents’ accusations are unfounded. It is important for investors to be wary of FUD and do their own research before making investment decisions.
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Continue reading Critical Accusations in the Popular Altcoin: ‘FUD’ Answer Came!