Investigações MASTR
ANSEM: volume, valuation and the pools underneath
The June 2026 workbook corrects the single-pool story and separates circulating market cap from FDV.
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Neste artigo
What was actually measured
The workbook identifies The Black Bull token by its Solana mint, 9cRCn9rGT8V2imeM2BaKs13yhMEais3ruM3rPvTGpump. It records six pools with exact addresses: one PumpSwap pool and five Meteora DLMM pools. Additional routes appeared in tracker summaries without full pool addresses and were given lower confidence.
The main PumpSwap pool showed approximately $1.018 million in liquidity and $48.71 million in 24-hour volume. The largest identified secondary Meteora pool showed approximately $780,205 in liquidity and $15.31 million in volume. The market therefore had meaningful secondary routes, even though one pool dominated important measures.
A valuation correction
The recorded trackers showed fully diluted valuation around $91.8 million to $95.8 million and circulating market capitalisation around $36.5 million to $37.9 million. Calling the larger number circulating market cap would misstate what the sources reported. Different supply assumptions explain why the two labels matter.
The same applies to turnover. A pool can trade many times its liquidity in a day. That ratio does not mean the whole volume is available for holders to withdraw. It also does not, by itself, prove wash trading. The underlying trades and counterparties would be needed to establish that allegation.
The ownership claim was not resolved
The workbook records a project-profile claim about a large allocation to an Ansem wallet. It explicitly marks the claimed public wallet as needing direct verification. A token's name, a community description and a claimed wallet label do not establish the identity or conduct of a person.
The measured pool structure is established in the workbook; the claimed personal allocation remains unverified. The ANSEM token is also distinct from the ansem.io platform.
Why this belongs in the archive
The useful result is a more accurate market map: multiple routes, uneven depth, different valuation measures and visible gaps in the source material. It demonstrates how an investigation can correct an exaggerated criticism while still identifying substantial liquidity and concentration risk. Read market capitalisation, liquidity ranges and wallet attribution alongside the original dated workbook.
Fontes
- MASTR: ANSEM liquidity-pool snapshot, 28 June 2026
- MASTR Research: From Decentralisation to Attention Capture, July 2026
Investigação verificada em 5 de setembro de 2026. Historical cases retain the date and legal status of the cited record.