Axis Robotics’ AXIS token fell about 36% over 24 hours on October 29 as blockchain investigator ZachXBT alleged selling by project insiders. CoinMarketCap showed the token trading near $0.14 at about 12:22 UTC, eight days after its market debut.
In a Telegram alert, ZachXBT said insiders received more than 76 million AXIS, valued at over $12 million, from a multisignature wallet. He alleged they began selling through decentralized exchanges and transferring tokens to Bitget. He did not establish that the entire amount received had already been sold.
ZachXBT said one insider sold 42 million AXIS through decentralized exchanges on Base and held more than 5.04 million USDC across associated wallets. Those figures describe his tracing of the proceeds, rather than independently established net profit.
CoinMarketCap listed roughly $190 million in daily trading volume and a circulating market value near $23 million. The project’s tokenomics specify a fixed one-billion-token supply, with 165 million AXIS circulating at launch.
Axis builds training-data infrastructure for robotics, rewarding human contributions to simulated tasks. Its October 21 exchange listings included Coinbase, Upbit and Bitget. CoinScreamer has not independently verified the alleged insider ownership or the full volume of tokens sold.
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