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![0xBilgute Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::989699809643659264.png) bilgute.eth🐸 [@0xBilgute](/creator/twitter/0xBilgute) on x 1350 followers
Created: 2025-07-26 05:38:09 UTC

Appreciate the insight, Ghazi 🫡

You’re right... CEX listings and locked supply do change how we interpret holder data. That’s fair context I didn’t dive into deeply enough, especially with FOXY having a large % on tiered exchanges.

My goal wasn’t to call CEX-based holder concentration a “red flag” in isolation. it’s to invite people to look closer at how tokens behave structurally.

But if it came off as oversimplified or one-sided, that’s on me.. I’ll tighten it up. Always open to feedback


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**Related Topics**
[exchanges](/topic/exchanges)
[holder](/topic/holder)
[listings](/topic/listings)

[Post Link](https://x.com/0xBilgute/status/1948981143153393832)