🪂 $4.6 billion in Pump and Dump tokens

Gm, this is the doodhwala the only crypto newsletter with more twists and turns than the Delhi pitch.

Btw, did you catch us? We dropped some alpha to our No. #1 fan. 👇

Here’s what we got for you today:

• 💩 How to pump and dump 101

• 🔵 vs 🟠 Who's winning?

• ✊ knock knock

• 🪂 Airdrop guide 101

• 🤣 Milky Meme of the Day

Guess who's back Kohli bhai 👇

💩 How to pump and dump 101

Pump and dump.

Nope, I’m not talking about that night you ate 3 plates of roadside paani poori 🤤 and the next morning you spent in the bathroom 🤢.

I’m talking about pump and dump crypto projects.

Pump and dump projects are a real menace in the crypto world right now.

According to a report by blockchain analytics firm Chainalysis, in 2022, pump-and-dump projects generated $4.6 billion in scammy tokens.

That’s more than the market cap of top crypto projects such as:

🗃️ Filecoin🔒 Monero👑 Wrapped Bitcoin

So, how does these pump and dump projects work exactly?

All of them follow a simple 5-step playbook. And only 2 steps are the 🚀 and the 💩:

Here’s how they work:

1️⃣ Launch: The token contract is created by the scammers.

2️⃣ Liquidity IN: The scammers increase liquidity in the market by:

• increasing token supply

• allowing trading on DEXes

• creating fake trades to show activity

3️⃣ PUMP: This is where the first part of the pump and dump comes in.

The scammers start hyping about the token to increase its price. This is done by:

• creating fake accounts on social media sites that talk about the token

• partnering with influencers to convince their audience to buy the token

• engaging in fake partnerships to show legitmacy and potential of the token

This causes regular people aka the victims from buying the token + shilling it to other victims.

This is how the token is passed between victims 👇

Victim 1 💰 💰 💰 → Victim 2 💰 💰 → Victim 3 💰 → Victim 4 💀

This is how WE pass the 🥛 to readers: 👇

4️⃣ Liquidity OUT: The scammers decrease liquidity in the market by:

• decreasing token supply

• preventing trading on DEXes

5️⃣ DUMP: This is the final part of the pump and dump.

Once the price of the token is 🚀 the scammers convert the scam token to either:

• stablecoins: like USDC, USDT, or DAI

• native tokens: ETH for Ethereum, BNB for Binance Smart Chain

• bridged cryptos: random cryptocurrencies bridged to different blockchains

Because of such a massive selloff ☝️ the token turns to 💩 and the holders are left 😭

Here's an example of a PUMP and DUMP project's timeline on BSC (ofc it's on BSC 🤦‍♂️):

In 2022, guess how many pump-and-dump tokens were launched in the market?

1.1 million!! 🤯

Of ☝️ these 1.1 million pump-and-dump tokens, 96% didn't even last 4 days in the market. At least that's more than the Australian cricket team in tests. 🤣

Only 3.6% of these tokens – about 40k tokens – survived to the fifth day.

Of ☝️ these 40k pump-and-dump tokens, about 24% of the tokens saw massive traction in the market.

Only 24% of these tokens – about 9.9k tokens – generated $4.6 billion for the scammers.

THAT'S ABOUT $460,000 PER SCAM project!

Let me repeat – HALF A MILLION FOR A PUMP AND DUMP PROJECT. 😵

And most of these 9.9k tokens came from similar wallets.

Chainalysis identified one wallet that deployed (or was working with wallets that deployed) at least 264 tokens.

That's $122 million for 1 wallet that created 264 pump-and-dump tokens. Talk about a massive payday.

Doodhwala's take:

We know pump and dump coins were everywhere. But, even we, didn't know there were SOO MANY scam projects.

Now that we've laid down the 5-step playbook:

1️⃣ Launch:2️⃣ Liquidity IN3️⃣ PUMP4️⃣ Liquidity OUT5️⃣ DUMP

You know what to look for to avoid falling victim to these projects.

Stay safe. ✌️

🎮 Gameswala: Crossword Culture

Finding Alpha 🦄 on CT is tough, about as tough as finding the humour in the doodhwala.

Find the words based on the clues below. 👇

(answer at the 👇 bottom👇 of the email)

🥊 Blur vs OpenSea. Who’s actually winning?

It's always exciting to watch TWO titans go at it against each other.

• India vs Australia in Cricket

• Floyd Mayweather vs Connor McGregor

• Ranbir Kapoor vs Ranveer Singh (for Deepika ofc 🤷‍♂️)

And even when it comes to NFT marketplaces, the drama can be as interesting as a Bigg Boss episode. 🔥

Yup. But first, let us introduce the two contenders:

🔵 In the blue corner, we have the reigning, defending, the current champion and VC’s favourite marketplace OpenSea.

🟠 In the orange corner, we have the underdog, the prodigy, the rebellious BLUR.

This fight started when Blur was launched back in October 2022.

But who’s actually winning it? 🤨

Here are THREE super figures for you to decide:

1️⃣ No of Users

OpenSea has had 4-5x more users than Blur in the past week despite all the craze around its token airdrop. 🔥

So this round goes to OpenSea. 🏆

2️⃣ No of Trades

When it comes to individual trade counts over the past week, Blur has only SLIGHTLY edged past OpenSea.

But this is still completely OPEN for either one of them to take over.

🏆 This round can be considered a DRAW. 😬

3️⃣ Trade Volume

Blur is straight-up RIPPING OpenSea apart with it comes to daily volume. 🔥

The airdrop, the ease of use, and the super UI/UX are making Blur the go-to platform for both NFT artists and degen traders.

🏆 This round goes to Blur. 🟠

This is just a glimpse into the current state of the battle.

It’s in no way over yet. 😎

Blur has made SOME BIG moves. 🔥

It has knocked down OpenSea to the ground.

But the ref is counting. 1….2….3….4…

Will OpenSea get back up to defend its crown or will it stay down?

What do y’all think?

(REPLY with your winner. OpenSea 🔵 or Blur 🟠)

🤔 Flippening: The biggest question in crypto!

Are you ready to stay ahead of the game in the evolving world of digital assets? 🤓

Then we’ve got just the place for you.

The Flippening is a crypto newsletter that keeps you on top of the latest trends.

They focus on the highly anticipated → Flippening.

When Mbappe flips Messi as the GOAT ❌When Kohli flips Sachin’s century record ❌When ETH replaces BTC as the most valuable crypto ✅

You'll also get access to:

👉 Exclusive insights and analysis on the dynamic crypto landscape.

👉 360-degree view of the crypto world, from market updates to innovative projects to airdrops.

Get ready to take your crypto knowledge 🚀 with 700K+ other readers.

📢 REFER AND WIN some doodhwala merch 📢

For the first time evaaa, we're giving away the doodhwala merch.

But it's not lame t-shirts with some random company name, but super cool stuff like:

😜 stickers – for your 💻, 📱 and 🚽📘 notebooks – to write your crush's name🍺 mugs – for your doodh, and NOT your beer!!👕 t-shirts – with totally non-controversial things (promise 😉)🧥 hoodies – because we wanna keep you warm in the crypto 🥶 winter🎁 mystery box – with some super cool prizes that’s worth more than 1 Bitcoin

Chegg it 👇

For every confirmed referral (i.e. they confirm their email and drag it to their “Primary” tab from their “Promotions” or “Updates” tab) you’ll get some 🤤 merch.

All you gotta do is share the doodhwala with this link (only available on email, not on web view) 👇

📈 Chaach and Charts: knock knock

✊ Knock Knock.

✋ Who’s there?

✊ Ordinal.

✋ Ordinal who?

Ordinal-ly Bitcoin doesn’t any anything to do with NFTs.

But now they do.

In fact, Ordinal NFTs on Bitcoin have grown by 300x since mid-January.

Daily mints:

🗓️ Full month of January: Less than 1k mints

🗓️ So far in February: Over 140k mints

Chegg it 👇

🛠 Resourcewala: Crypto Care Packages

Have you heard of airdrops? 🪂

No, not those weirdos who jump outta airplanes for the “THRILL”

Airdrops are a great way to get free tokens and earn some extra crypto without spending a dime 🤑

In this edition of the Resourcewala, we’ve got an amazing thread 🧵 showing you:

• What are airdrops? ✈️

• Why are airdrops cool? ✈️

• How to capitalise on airdrops ✈️

Chegg it 👇

🍼 Crypto doodh shots: Wen YouTube NFTs?

• 🚀 Arbitrum Fever: Daily transactions on Ethereum's layer2 (L2) network Arbitrum, touched a new all-time high with 690k transactions.

• 🔥 Top Burner: NFT marketplace aggregator Blur.io has surpassed Uniswap and OpenSea as the top ETH burner over the past 24 hours by burning 252 ETH.

• 💕 Youtube’s Cryptoboi: YouTube's new CEO, Neal Mohan, is super bullish on everything NFTs and Metaverse. New NFT marketplace incoming?

• 😬 Nightmare Continues for the former crypto starboi, SBF, with Voyager’s creditors serving him and other top FTX execs with a subpoena for a court appearance.

• 💰 Big Money Raise: Play-to-earn gaming platform Yield Guild Games (YGG) has raised $13.8 million in a funding series led by a16z.

😂 Milky Meme Of The Day

💰Answer💰

Let us know what you think 👇

If you want more doodh then, be sure to follow our Twitter, our LinkedIn, and our Instagram.

That’s all for today bhaiyo aur bheno! Naale Sigona!

Aakash "Dahi Cheeni" Athawasya & Arvind "Doodh Peda" Krishna

Yo! Our legal and financial advisors (aka our good ol’ conscience) have asked us to add this boring disclaimer.

None of what you read here is financial advice. We aren’t here to get you to buy or sell a crypto. We’re only here to tell you what’s up in crypto today and make you laugh. So, if you screwed up on a trade, that’s on you G. Stay safe in the markets.