In a shocking turn of events, the developer behind the controversial meme coin BALD initiated a series of significant transactions, raising eyebrows within the cryptocurrency community.
The recent actions of the BALD deployer have brought both the coin’s value and reputation into question. Here are the key points:
- The deployer of the BALD token has moved a whopping 7,000 ETH ($12.9 million) out of the Coinbase Layer 2 network, Base.
- Out of the 7,000 ETH, 2,100 ETH ($3.87 million) was sent to the Kraken crypto exchange, most likely for selling purposes.
- The BALD deployer currently holds 4,902 ETH worth over $9 million and has significant token holdings.
- There are speculations about the identity of the BALD deployer, with some pointing to an X user known as @milkyway16eth.
- The BALD meme coin experienced rapid growth, climbing over 289,000% in less than two days after its launch on Base.
A rollercoaster ride for investors
The BALD deployer pulled liquidity from the token, taking away 10,705 ETH ($20 million) on August 1. This caused a rapid decline in the coin’s price. Here’s more:
- BALD’s price is down over 90% from its all-time high and has recorded 18% losses in the last 24 hours alone.
- Despite trading on Base, BALD has been unable to regain its previous market value.
- The daily trading volume of BALD is $503,000, with a market cap of $9.03 million.
Hot Take
The recent actions of the BALD deployer have caused significant turmoil within the cryptocurrency community. Investors who were initially attracted by the rapid growth of the meme coin have now faced substantial losses. The identity of the BALD deployer remains a mystery, leaving many questions unanswered. The future of BALD looks uncertain, with its market value continuing to decline. This serves as a reminder of the risks associated with investing in meme coins and the importance of thorough research before making any investment decisions.
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