The Web3 music token erased $5.7 billion in market cap within 48 hours. RaveDAO's six-part denial on X accelerated the sell-off rather than stabilizing it. The team confirmed it may liquidate unlocked tokens for operations.
RaveDAO's token surged from $0.25 on April 1 to $13.45, driven by tier-1 exchange listings and a $31.1M short squeeze. Insider manipulation allegations and a 1 billion token supply cap are raising red flags as the rally continues.
A 9-of-12 council vote moved 30,766 ETH tied to the KelpDAO exploit into a frozen wallet. It recovered funds, and it forced an uncomfortable question about what decentralization actually means on Layer 2.
A token built around AI hype collapsed 70% after on-chain investigators exposed extreme supply concentration. The rest of the losers list told a more familiar story: a macro risk-off week, revenue pressure in DeFi, and a July token unlock hanging over Worldcoin like a known weight.
