Billion-Dollar Volumes and Then a Steep Drop Prompts Allegations of Wash Trading on Aevo
Summary
Daily trading volume on Aevo's decentralized crypto exchange surged to over $4.5 billion before dropping back. Allegations of wash trading arose, with suspicions of inflated activity for airdrop rewards. Unusual options trading patterns and program rewards fueled concerns. The exchange's farming program tied rewards to platform usage and ended with a $95 million AEVO token airdrop to users.
