AXIS Token Drops 40% After Insider-Linked Selling Spree

A robotics token that debuted on Binance a week ago saw a single address unload 42 million coins, worth roughly $5 million, within 24 hours. Blockchain detective ZachXBT stated that those tokens were transferred from a team wallet to Axis insiders.

The token's value dropped around 40% within a single day, hurting investors who purchased after the exchange listing. Axis Robotics maintains that no team members sold any tokens.

Who Dumped the AXIS Tokens?

Axis Robotics gathers data for training robots. The AXIS token became tradable on October 21. It first appeared on Binance's Alpha section for early-stage projects. Later, Coinbase and South Korea's Upbit added it.

Binance Alpha will be the first platform to feature Axis Robotics (AXIS) on October 21.

Eligible users can claim their airdrop using Binance Alpha Points on the Alpha Events page once trading opens. Further details will be announced soon.

Please stay tuned to Binance’s official… pic.twitter.com/l9rgMJ7InT

— Binance Wallet (@BinanceWallet) October 20, 2026

After that, the sell-off began.

In a Telegram post, ZachXBT reported that insiders had received more than 76 million tokens, valued at over $12 million, from a wallet belonging to the team.

The majority of the tokens were exchanged for USDC, a stablecoin pegged to the dollar, on decentralized exchanges. A portion was moved to Bitget.

“Please explain to the community why an entity received ~42M AXIS from the Axis team multisig to six addresses and sold it for 5.04M USDC via DEX over the past 24 hours which has caused the AXIS price to crash 40%?,” the blockchain sleuth posed.

That transaction represented 25% of all tokens available for trading when the asset launched. According to Axis, the remaining 835 million coins are locked in a contract managed together with Binance.

Axis Attributes Sell-Off to Unnamed Counterparty

Axis stated that neither team members nor investors sold any tokens. Instead, it had transferred community-fund tokens to a single OTC trading firm under a signed lock-up agreement.

“The pattern of the sales, which went through … hundreds of fresh addresses within hours of delivery, strongly suggests that the OTC counterparty sold these tokens on the open market,” the team stated.

Axis has severed its relationship with the firm and engaged legal counsel.

According to Axis's tokenomics, the fund released 80 million tokens at the time of launch. ZachXBT identified 76 million of those.

An additional 431 million fund tokens are set to unlock on a monthly basis starting next month, now on automated timetables, according to Axis. A similar wave of selling to exchanges came before a 40% drop in DoubleZero's 2Z token in 2025.

The $5 million is now held across eight wallets. ZachXBT labels the holder an insider. Axis accuses a partner that it says violated the agreement.