Hooked Protocol, a Binance IEO project, recently came under scrutiny from the community for potential insider trading activity.
Concerns were raised after it was revealed that a multi-signature address believed to be associated with the official project had transferred approximately $4.52 million worth of HOOK tokens to Binance shortly before the major fund announcement. Because this transaction took place two to four hours before the release of the new $50 million fund, speculation continued about the timing of the transfer.
After the announcement, the price of HOOK temporarily surged, peaking at $1.24 and then falling to $1.05 in just four hours. market watchers Investors are questioning the fairness and transparency of operations, pointing to price volatility as a sign of information asymmetry.
A closer look at Hooked Protocol’s market data reveals a broader context for these events. The token is currently trading at $1.07, with a 24-hour trading volume of $22,707,605. While it increased by 11.75% over 7 days, the 30-day and 180-day indicators decreased by 21.86% and 26.78%, respectively. Hooked Protocol’s price is significantly lower than its all-time high (ATH) of $4.07, down 73.73%.