Emerging Monster Coin #TRU experienced a surge of +21,463% in trading volume over the past 24 hours.

Leading the surge in the top gainers is #TRU , with data so bizarre it’s hard to believe.

In the past 24 hours, the price increased by 180%, trading volume soared by 21,463%, open interest rose by 1,423%, and it was listed on 8 exchanges, with 7 of them having perpetual contract funding rates pushed to the maximum.

TrueFi is a non-collateralized lending protocol driven by on-chain credit scoring, maximizing borrowers’ capital efficiency and lenders’ returns.

The project received $20 million in funding in 2018, making it an ancient project in the crypto space. Most of its tokens have been unlocked, meaning full circulation.

Recently, there have been no major news or updates about the project.

In September 2024, a suspected DWF Labs address received 7.5 million tokens distributed by the TrueFi team.

To summarize, it’s another case of:

- Low liquidity, small-cap coin (before the explosion, contract trading volume was consistently around 1-2M; today’s trading volume is 400M)
- Capital concentration to manipulate the price (net daily inflow of $1.6 million; before the surge, market cap was only about $6M, now it’s $18M)
- Highly controlled spot circulation (tokens fully unlocked and circulating)

It’s recommended to avoid these kinds of monster coins because market manipulators can harvest profits at will.

Since the bull market, every explosive rise and fall of these coins has had DWF Labs’ shadow behind it. They push prices irrationally, and when they dump, they don’t hold back.

When prices fall, it’s very smooth—no chance to retreat. It’s best to stay on the sidelines and not get involved.