Count People, Not Wallets
New tokens are judged by how many people hold them and how much they trade. One person with many wallets can inflate both. Here is what Nuno found on nad.fun, and how it works.
Biggest gap between looks and reality
248 → 49
holders shown → real owners
$Ducki 0x1b10…7777
Biggest group found
323 wallets, one owner
launched 3 of the 439 tokens checked
One group of 10 wallets, seeded by a single private wallet in 17 seconds, launched 110 of the 439 nad.fun tokens from Oct 4–15, 2026.
Across the week, 66% of launches came from wallets in a group.
How we know: one wallet, 0xb245…d3b3, received 300,000 MON (proof), then sent 14,995 MON to each of the 10 launching wallets within 17 seconds. Every payment below is public; click one to see it on the Monad explorer.
Count People, Not Wallets
Why it matters. A token that shows 200 holders and lots of trading looks like a hit, so people buy in. If 150 of those wallets belong to the creator, the token is far riskier than it looks. Price trackers, launchpads and trading bots all read those numbers.
Nuno gives them honest ones, and shows its proof for every claim.
- 1
Watch every launch
Nuno follows every new token on nad.fun, and every buy, sell and transfer of it, straight from the public Monad blockchain.
- 2
Follow the money
For each buyer, it looks at where their money came from. Fresh wallets topped up by the same source at the same time, or that buy and sell at the exact same moment, are usually run by one person.
- 3
Count people, not wallets
Wallets that belong together become one group. Holders are then recounted, so 50 wallets owned by one person count as one owner. Trading is split into trading by people who kept their tokens and quick in-and-out trading.
Holders shown vs real owners
top 5 by holders439
every nad.fun launch in the last week
1,735
that belong to just 330 owners
12,715
every buy and sell on nad.fun
4,910
payments that show who funded whom
Questions, Answered.
In plain words
What problem does Nuno solve?
New tokens are judged by how many people hold them and how much they are traded. Both numbers can be inflated: one person can spread money over many wallets and trade with themselves. Nuno works out which wallets belong to the same person, so the numbers you see reflect real people.
How can you tell two wallets belong to the same person?
By following the money and the timing. Wallets that were filled up by the same source within a short time, that send the token to each other, or that buy and sell at the exact same moment are almost always run together. One weak hint is never enough on its own: Nuno needs strong evidence, or several hints that point the same way.
What does "trading by holders" mean?
It is the trading done by owners who kept their tokens. When an owner buys and later sells almost everything, or trades in and out within minutes, that trading is counted separately. This catches bots that trade with themselves to look busy, but also ordinary traders who flip a token for profit, so a low number means "lots of in-and-out trading", not necessarily cheating.
Can I check the proof myself?
Yes. Every link between two wallets comes with the public transaction that shows it. Click any of them to open it on the Monad block explorer. Nothing here relies on private data.
Is it always right?
No tool is. Some shared services, like exchanges, send money to many unrelated people; Nuno recognises busy services like these and ignores them as links, but it can still make mistakes. That is why every link shows its proof, and why the results are called likely, not certain.
Who is it for?
Anyone deciding whether a new token is what it seems: traders, token trackers, launchpads and trading bots. Apps can download the numbers for free, and smart contracts can read them directly from the Monad network.