Blockchain analytics firm Bubble Maps said a cluster of 23 wallets linked to adopters of Solana-based AI token Ava has amassed about 40% of the token supply at launch, raising new questions about insider coordination surrounding the project’s debut.
The Civil Wallet cluster associated with the deployer shares a similar pattern, having been funded in a limited time frame through Bitget and Binance, received a similar amount of Solana (SOL), and had no blockchain activity until purchasing the supply of Ava AI (AVA) tokens at launch, Bubble Map claimed in an X post on Thursday.
“Linked to these snipers are other wallets that also purchased $AVA early on. Similar funding sources, size, and timing strongly suggest coordination between these clusters,” they said.
In cryptocurrency slang, sniping is the use of a cryptocurrency trading bot to automatically purchase a supply of new tokens as soon as they become available to the public, with the goal of buying at a lower price before the general public.
The token was launched on meme coin launch platform Pump.fun with the aim of making a decentralized, community-driven debut, but wallet cluster activity suggests an acquisition that resulted in a single entity holding 40% of the token’s supply.
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A large supply of tokens concentrated in a small number of wallets helps investors spot scams such as rug pulls. In this scam, insiders remove liquidity or initiate a massive selloff, causing the price to plummet and leaving investors with worthless tokens.
This organized activity is revealed through Bubblemap’s time travel capabilities. The feature is a forensic-grade analysis tool released in May that allows Web3 users to reconstruct the distribution history of their tokens and is aimed at early detection of insider activity.
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AVA AI token falls 96% from all-time high
The coordinated purchase activity came to light more than a year after the launch of the AVA token on November 13, 2024. The token reached a fully diluted valuation (FDV) of $300 million by January 2025, making it a popular Solana-native autonomous AI agent utility token.
According to data from CoinGecko, the AVA token has fallen more than 79% since its launch and is down more than 96% from its all-time high of $0.33, which it topped on January 15, 2025.
Ava, also known as the “HOLO AI Intern,” is the first AI agent built on the decentralized AI launchpad Holoworld AI. The platform allows users to create, play, or finance agent AI applications.
Holoworld claims to have over 1 million users and 700,000 AI “creations” to date.
Cointelegraph has reached out to Holoworld for comment on the activities of the Civil Wallet cluster during the token sale.
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