Bubblemaps Reports ARROW Token Supply Concentration on Robinhood Chain’s ArrowFinance

Bubblemaps said its investigation found a high level of token concentration in ARROW, the token of ArrowFinance, a lending protocol on Robinhood Chain. According to Foresight News, Bubblemaps reported that 80% of ARROW tokens were concentrated in linked addresses. Bubblemaps said one large cluster consisted of 200 wallets that previously had no recorded on-chain activity on EVM networks. It said these wallets bought the token within three minutes of its listing and were funded at the same time from the same source, which Bubblemaps described as suspected sniping of the token issuance. Bubblemaps added that it also identified several other large clusters of linked addresses. ARROW launched on July 4 and its market capitalization at one point reached $30 million. Bubblemaps said ARROW ranked second among Robinhood Chain-related tokens, behind CASHCAT.