A coin called BALD has recently taken the cryptocurrency community by storm. It rose to enormous prominence before plummeting precipitously. The creator value of this viral cryptocurrency has risen to $80 million. This will only fall by 90% immediately after the storm.
The originator of the meme token is unknown. He declared the return of a considerable sum of money, up to $12 million, to the Ethereum network. This action came after a sequence of events that caused the token’s price to fall. According to Lookonchain statistics, the developer transferred a significant quantity of Ethereum back to the main network. This is where the token was first introduced.
At the height of its popularity, the meme token BALD drew notice when a $500 investment converted into hundreds of thousands. This is an extraordinary success story that caused the token’s value to surge by 4,000,000% in a matter of days. In a rather stagnant market, investors poured in, looking for spectacular rewards.
This spectacular rise, however, was fleeting. The value of BALD dropped by up to 90% after its developer removed a significant chunk of liquidity. This drove traders to panic and sell their shares quickly. Despite the precipitous drop, the creator remained unaffected. Overall, suggesting that they were in charge of the tokens they controlled.
NEWS:📈🚀 A coin called #BALD has recently taken the crypto community by storm, it rose to enormous prominence before plummeting 90%📉
— Walletor (@walletorapp) August 14, 2023
It’s vital to remember that BALD is a meme coin with no clear roadmap or devoted team. This means it has essentially no intrinsic worth. Some have even linked the cryptocurrency to Sam Bankman-Fried’s Alameda Research. This is due to wallet activity and links to linked projects. Still, the wealthy creator’s genuine identity is unknown.
BALD’s voyage in the realm of cryptocurrencies exemplifies the high market volatility and speculation that might characterize the sector. Traders saw spectacular returns as well as severe losses. This serves as a reminder of the hazards involved in investing in such speculative assets.