Who cashed in on BALD: the memecoin went up 30,000 times in a day
Date: 2023-07-31 Author: Karina Ziganova Categories: BLOCKCHAIN, BUSINESS
The meme cryptocurrency, created on the blockchain from Coinbase, has risen sharply in price against the backdrop of liquidity injections into the project's pools. The community suspects that the head of the crypto exchange, Brian Armstrong, is involved in the pump
The meme cryptocurrency BALD burst into the cryptocurrency news agenda with great fanfare. During the day, the value of the token increased tens of thousands of times. The BALD project is built on the Coinbase blockchain, and the community suspects that the crypto exchange is deliberately pumping up the price.
oBALD Single Memecoin
BALD is a meme cryptocurrency launched on the Base blockchain. The project does not have a website and there are no social networks. Who is behind it and what their goals are is unknown.
On Saturday, July 29, BALD appeared on Uniswap without special notices or announcements. And on Sunday, BALD broke into all cryptocurrency ratings, surpassing even Litecoin, which is preparing for halving, in popularity and frequency of mentions.
At the peak of the pump, the value of the token approached $0.085, and the market capitalization reached $85 million.
The BALD/WETH pool at one point ranked fifth in terms of liquidity among all pools tracked on DEXScreener, ahead of WLD/USDC and LEET/WETH.
Meanwhile, it soon became clear that the coin was launched by a certain whale, which at the same time actively poured cbETH into this pool - a variant of ETH staked on Coinbase.
Given that the token's blockchain, Base, is associated with Coinbase, rumors spread in the market that this whale is also related to the crypto exchange. Perhaps the head of the company, Brian Armstrong, is involved in this.
Here's What We Know About Base
The Base blockchain is a second-layer solution for Ethereum. Despite the fact that it has not yet been completed, over the weekend, the amount of funds blocked in it increased sharply due to the hype around the BALD memecoin.
At the time of publication, the value of the funds locked in BASE exceeded $50 million, although on Saturday morning the blockchain barely collected $2 million.
The Base mainnet was launched on July 13, however, it is still in the testing phase. The public launch is scheduled for August. It is not yet possible to withdraw assets from the blockchain. However, given the rapid growth of liquidity, it can be assumed that new tokens will soon appear on it.
