Lydian World’s LYS token has a… $1.6 trillion market cap?
Ponzi tokens at the push of a button, “technical error” exit-scams, “we got hacked!”, Boris CEO factories… the MLM crypto niche is by default set to pretty stupid.
Then there’s MLM crypto scams like GSPartners that take it to a whole new level.
Back in January BehindMLM documented GSPartners giving up on manipulating G999’s trading value.
Consequently daily trading volume dropped to ~$60,000 and G999 is sitting at 0.0037 cents as I write this.
There’s still some weak manipulation going on, as you can see G999 bouncing up and down if you watch the daily chart.
LYS token is part of G999’s Lydian World NFT Ponzi spinoff. LYS is your typical “set it up in 2 minutes” BEP20 MLM Ponzi token.
Turns out the manipulation bots were just switched over from G999 to LYS.
The above chart is from the last 4 hours of LYS on Bitex Live. You can clearly see someone has set a target of ~$1800. The only movement are drastic swings up and down, the same we saw with G999.
Zoom out and you’ll see LYS had a late December launch target parameter of ~$950. That was quickly bumped to $~1060 on December 30th and was kept in place for a month.
On January 31st the bots were shut off, sending LYS into freefall to $1.40. This likely reflects LYS’ actual public trading value at the time.
On February 3rd GSPartners fired up the trading bots again, this time with a ~$1030 target.
There’s been a bit of movement as affiliates at the top of the Ponzi cash out, but ~$1820 on average has been maintained since about February 22nd.
What’s particularly amusing about this manipulation is LYS’ advertised market cap on Lydian World’s website:
At time of publication LYS’ market cap is $1.6 trillion dollars.
To put that into perspective, the entire tracked cryptocurrency market currently has a market cap of $1.75 trillion.
There are supposedly 1684 LYS bagholders. You can guess what’d happen if just a few of them tried to cash out.
Further adding to the lulz is GSPartners’ boasting 377,409 Lydian World signups.
There are 75 people using Lydian World of that total amount as I write this.
If we head over to BSCScan, we learn that 99.9999% of LYS is held in one wallet.
That wallet has a balance of 888 million LYS. You can probably guess who it belongs to.
For reference, the second largest wallet balance isjust 181 LYS tokens.
- due to trading manipulation LYS’ market cap is $1.6 trillion dollars
- supposedly LYS is spread out across 1684 wallets
- GSPartners claims there are 377,409 Lydian World accounts, resulting in a 0.4% wallet to user ratio
- 99.9999% of LYS is held in one wallet
Like I said, the MLM crypto niche is pretty stupid at the best of times. GSPartners’ failing Ponzi however is borderline imbecilic.
At time of publication Alexa ranks the US as the only notable source of traffic to Lydian World’s website (85.9%).
Neither GSPartners, Lydian World, owner Josip Heit or any promoters are registered with the SEC.