PANews reported on August 29 that according to The Block, a wallet connected to the Ethereum network's genesis block appears to have launched a meme coin called "PHIL," according to data from blockchain data sites DEX Screener and Etherscan. After the token was listed at around 20:15 Beijing time on August 28, its market value once exceeded $125 million. The PHIL token is currently being traded on the decentralized exchange Uniswap V2, and as of press time, the trading price is about $0.06950, lower than the peak price of $0.10 reached about an hour after listing.
On DEX Screener, the token’s owner wallet was originally funded by an entity labeled Genesis 3,316 days ago on July 30, 2015 (the day Ethereum went live), when 2,000 ETH was injected into the wallet. Since then, the wallet has transferred nearly all of the Ethereum (including 36.6 Ethereum) into the PHIL token liquidity pool and smaller meme coins Azalea and Drip.
The maximum total supply of PHIL tokens is 1 billion, and there are currently only more than 1,000 independent holders. Its top ten holders each purchased 10 million tokens. One speculator who bought 6.5 million tokens made a profit of $172,000 by selling about half of the tokens, and there are more than $300,000 in unrealized gains. According to DEX Screener data, PHIL's trading volume has surged 86,000% since its listing, and it has now become the most traded asset on Uniswap. Its current market value exceeds $69.5 million.
