Published Oct 21, 2026, 11:25 PM ET · Updated 23 days ago · 1 source
On-chain market is a rigged extraction cycle run by coin groups and packaged KOLs
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Original Report
The post-2024 on-chain market is a structured extraction business where L1 backers, launchpads, coin-issuing groups, celebrity groups, and packaged top KOLs cycle retail through FOMO buys and 80% drawdowns.