Latest Nestree (EGG) News Update

TLDR
Nestree (EGG) faces bearish sentiment due to a high-profile scandal involving its corporate partner, though some traders note its 12.75% weekly gain as a potential counter-narrative.

1. Alleged pump-and-dump scheme tied to K-pop giant Cube Entertainment’s CEO dominates discussions
2. Extreme token concentration (top 10 holders control 99.26% of supply) raises manipulation concerns
3. Mixed price action – 19% daily drop vs. 12.75% weekly gain

Deep Dive

1. Sentiment drivers

The January 2025 allegations against Cube Entertainment’s CEO Kang Seung-gon (CCN) have become the primary focus:
- Investors claim 90% losses following Nestree’s collapse from $0.034 (March 2022 peak) to $0.00247
- Legal action threats contrast with Kang’s denials, creating uncertainty about Nestree’s corporate backing
- 24-hour trading volume plunged 79.65% to $8.18M, suggesting reduced liquidity amid controversy

2. Key discussion themes

Centralization risks dominate technical analysis:
- Whale-dominated supply (99.26% held by top 10) could enable coordinated moves – 30-day holder count fell 3%
- Turnover ratio of 1.11 signals thin markets where large trades disproportionately impact price

Regulatory scrutiny emerges as secondary concern:
- South Korean investors’ planned lawsuits might influence blockchain policy updates
- Cube Entertainment’s continued Nestree investment (per CEO statement) faces credibility tests

Conclusion

Nestree’s narrative hinges on resolving the Cube Entertainment scandal’s fallout, with its extreme holder concentration amplifying both downside risks and potential rebound volatility if legal clarity emerges. How might resolution timelines for the CEO investigation correlate with EGG’s liquidity patterns?

TLDR
Nestree (EGG) faces bearish pressure from a 5-month-old scandal involving K-pop giant Cube Entertainment's CEO, with no recent developments reported.

1. Alleged pump-and-dump scheme linked to Cube Entertainment’s CEO (Jan 2025)
2. Legal risks persist as investors consider lawsuits
3. Extreme supply concentration (99% held by top 10 wallets)

Deep Dive

1. Business & partnerships

Cube Entertainment CEO Kang Seung-gon was accused in January 2025 of promoting Nestree through alleged false guarantees of returns and exchange listings during its 2022 partnership (CCN). The entertainment company acquired a 40% stake in Nestree Media Group in March 2022, triggering a 100x price surge (5₩ → 50₩/$0.034) before the token collapsed during the broader market downturn.

Kang denies wrongdoing but maintains Cube’s blockchain strategy includes Nestree. This creates ongoing reputational risk – any regulatory action against Cube could impact Nestree’s operations.

2. Market metrics

• Price: $0.00453 (94% 24h surge, 108% weekly gain)
• Turnover: 1.52 (extremely high liquidity risk)
• Supply: Top 10 wallets control 99.09% of circulating EGG

The recent volatility lacks clear fundamental drivers, suggesting speculative trading rather than organic demand. High whale concentration historically correlates with pump-dump susceptibility.

Conclusion

Nestree remains tethered to unresolved legal allegations and extreme supply centralization, offsetting short-term price momentum. While technicals show volatility, the project’s viability hinges on regulatory outcomes from South Korea’s investigation.

Watch: Will South Korean authorities formally investigate Cube Entertainment’s Nestree dealings, and how might this affect EGG’s exchange listings?