ELN Cryptocurrency Faces Red Flags with Low Liquidity and Centralized Control

ELN is a next-generation cryptocurrency built on a secure and energy-efficient blockchain technology, designed for Eileen and tailored for quick, low-cost transactions, with support for smart contracts and easy DeFi integration. In terms of security features, ELN does not have mutable metadata or mint authority, but it does have freeze authority enabled. Additionally, there is no burned liquidity pool. The main holders of ELN include the creator with an 89.80% stake, Raydium holding 10%, and two small wallets holding 0.10% each. The overall score for ELN is poor, rated as 4, indicated by multiple red signals. Significant concerns include the still-enabled freeze authority, very low liquidity at just $29.26, and the fact that the creator owns the majority share of 90% of the total supply. Moreover, the creator has not transferred any portion of the supply to other wallets. Given these factors, ELN presents high risks related to liquidity, control, and security. Its dominance by the creator and minimal liquidity raise red flags about potential manipulation, low tradability, and the overall safety for investors. Investors should approach ELN with caution, considering alternative assets with better transparency, higher liquidity, and decentralized control to ensure safer and more reliable investments.