Everscale Token Price Drops as Team Reports Theft
The price of Everscale’s (EVER) token has seen a significant drop of 20% in the past 24 hours. The team behind Everscale, which claims to be the “most scalable blockchain,” has reported the theft of a large number of EVER tokens. They are working with exchanges to prevent further outflows and have temporarily disconnected Octus Bridge. While some community members are concerned about a potential rug pull, where project owners steal users’ funds and shut down the platform, it is unlikely in this case. The total value locked (TVL) has only decreased by 13%, and the team has not shut down their website or social media handles. However, investors and users should still assess the risks involved.
Key Points:
- Everscale’s token price has dropped by 20% in the past 24 hours.
- The team has reported the theft of a large number of EVER tokens.
- They are working with exchanges to prevent further outflows.
- The Octus Bridge has been temporarily disconnected.
- Some community members fear a potential rug pull, but it is unlikely based on current information.
- The total value locked (TVL) has only decreased by 13%.
Hot Take: Evaluating the Risks
While the Everscale team has reported the theft of tokens and taken steps to prevent further losses, concerns about a rug pull persist among some community members. However, based on the TVL decrease and the team’s continued online presence, it is less likely to be a rug pull incident. Nevertheless, it is essential for investors and users to conduct their own risk evaluations before making any decisions related to Everscale.
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