Blockchain analytics firm Bubblemaps alleges a coordinated cluster of ~160 wallets accumulated about 30% of the EDEL token supply (~$11M) during the Nov. 12 launch, funding wallets from Binance and MEXC and routing ETH through layers of fresh wallets before buying the token. Bubblemaps says roughly half the sniped tokens were retained and half dispersed to ~100 secondary wallets listed in the token contract, suggesting links to the project team. Edel co‑founder James Sherborne responded that the team acquired ~60% of supply and placed tokens into vesting; public tokenomics show a 12.7% team allocation over 36 months. Cointelegraph could not independently verify the wallet cluster. EDEL’s market cap is about $14.9M and the token has fallen ~62% over the past week.

Bubblemaps alleges ~160 wallets accumulated ~30% of EDEL supply (~$11M) at launch, funded from Binance and MEXC and routed through multiple wallets; half the tokens were kept and half dispersed to ~100 wallets listed in the token contract (suggesting team links). The project co‑founder claims the team holds ~60% in vesting but tokenomics show a 12.7% team allocation; EDEL’s market cap is ~$14.9M and price has fallen ~62% in a week. Cointelegraph could not independently verify the cluster.