Aevo Token Volume Spikes Raise Wash Trading Concerns

Aevo's trading volume recently spiked from $100M to $4.5B, then abruptly dropped back down, prompting wash trading allegations
Wash trading is banned in conventional markets; it involves a trader repeatedly buying/selling from themselves to mimic activity
Some allege traders tried inflating volumes to earn more AEVO tokens from an ongoing "airdrop farming" rewards program
Unusually large volumes were seen in deep out-of-the-money options with near-term expirations, viewed as suspicious
Aevo said increased volume was tied to users trying to get airdrop rewards before snapshot; farming rewards program has since ended