About a third of VALEN's small trading volume is the creator's group buying and selling back within minutes.
DELPHI rated Valen (VALEN) WATCH because 33.37% of its trading volume, counted in tokens, came from quick round trips. That is above the 25% WATCH line and below the 50% FLAG line. Only 3 wallets made all 11 trades, and DELPHI ties all 3 to the creator. The creator is now the only wallet holding any tokens. The launch-buying check found nothing. The holder check could not run because there is only 1 holder. With so little real outside trading, the volume says little about genuine demand.
What DELPHI saw
- The creator 0x1c64…7544 bought 1,260,939.71 tokens (0.12% of supply) for 10 USDC in the launch transaction. It bought 1,242,815.6 more 52 seconds after launch, then sold 625,938.83 back 100 seconds after launch, less than a minute after the second buy.0x95fe…d1f3 ↗0x001a…43ea ↗0x106c…943d ↗
- On Oct 11 at 08:15:44, wallet 0xbab7…e3ca bought 1,246,149.19 tokens for 10 USDC. About 2 minutes 40 seconds later, the creator sold 300,000 tokens and 0xbab7…e3ca sold all 1,246,149.19 for 9.79 USDC, 3 seconds apart.0x7647…a8c0 ↗0x12a2…f7d2 ↗0x1d05…0e1d ↗
- Why DELPHI counts 0xbab7…e3ca with the creator: the creator sent 0.02 HYPE (gas money) to wallet 0x5bD8…5c85 on Oct 11. 0x5bD8…5c85 then sent the transaction that sold 0xbab7…e3ca's tokens.0xd8f3…b997 ↗0x1d05…0e1d ↗
- Earlier, 0xbab7…e3ca also bought 1,240,081.14 tokens on Oct 10 and sold the same amount on Oct 11. That round trip took about a day, too slow to count toward the 5-minute wash measure. The wallet now holds 0 tokens.0x384f…31d1 ↗0x736f…9527 ↗
- All trading: 11 trades (5 buys, 6 sells) by 3 wallets. Buyers spent 50 USDC and sellers got back 39.23 USDC. The last trade was the creator buying 1,248,097.34 tokens on Oct 17. The creator is now the only holder, with 1,257,551.46 tokens (0.12% of supply).0xca43…4873 ↗
Keep in mind
- The finding rests on very thin data: 11 trades worth about 50 USDC, all by wallets DELPHI ties to the creator. On testnet, this can simply be one person trying out the launchpad.
- The holder check could not run: it needs 5 holders and there is only 1. Tokens held by pools or contracts are not counted as anyone's holding.
- 0xbab7…e3ca got its own HYPE from a public funder, which links no one. Its tie to the creator rests only on the sell sent by 0x5bD8…5c85, a wallet the creator paid.
Written by Claude (claude-opus-5-5) on 22 Oct, 22:29 UTC, from DELPHI delphi-v0.3 data. DELPHI reports patterns, not intent: check every claim against its transactions. All coins