Ethereum

Read

BALD

<div class="cryptonews"> 
 <p class="is-style-lead">Recently launched meme coin, BALD, grew to a $50 million market capitalization from zero in one day. </p> 
 <p>The coin experienced 40,000% growth in 48 <a rel="noopener noreferrer nofollow" title="hours" href="https://thebittimes.com/tag/hours.html">hours</a> before encountering a free fall. At the time of writing, BALD is down by over 95%.</p> 
 <h2 class="wp-block-heading" id="moons-and-dumps">Moons and dumps&nbsp;</h2> 
 <p>Launched recently on Base, Coinbase’s layer-2 chain over Ethereum (ETH), BALD has appeared out of the blue and reached heights many coins only dream of attaining. However, like all meme coins with zero utility, BALD is already in free fall.&nbsp;</p> 
 <p>Among the suspected triggers of BALD’s recent price <a rel="noopener noreferrer nofollow" title="surge" href="https://thebittimes.com/tag/surge.html">surge</a> is the rumor associating the coin with Coinbase CEO Brian Armstrong. Another is the influence of the Base Network on the coin. </p> 
 <div class="cn-block-related-link"> 
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Base’s TVL spikes 48X on BALD meme coin frenzy 
 </div> 
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
  <div class="wp-block-embed__wrapper"> 
   <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
    <p lang="en" dir="ltr">10's of millions flooding into Coinbase's Ethereum layer two, BASE.<br><br>Shitcoins pulling life changing 40,000% gains overnight.<br><br>The new crypto casino is open.</p>— Lark Davis (@TheCryptoLark) July 31, 2023 
   </blockquote> 
  </div> 
 </figure> 
 <p>According to a Forbes&nbsp;report, the new meme coin had more than 11,000 transactions within 24 <a rel="noopener noreferrer nofollow" title="hours" href="https://thebittimes.com/tag/hours.html">hours</a>, with over 4,300 holders. </p> 
 <p>Currently, users cannot bridge their tokens from the Base Network, as it only supports one-way bridging from Ethereum. What’s more, only a specific contract address allows the connection.</p> 
 <p>Another point experts have presented as a reason the upward trend of BALD may never come back is that liquidity is usually needed to sustain such a price <a rel="noopener noreferrer nofollow" title="surge" href="https://thebittimes.com/tag/surge.html">surge</a>, and the token currently has low liquidity.</p> 
 <p>At the time of writing, BALD is trading at $0.00226313, representing a 95.5% decline in the last 24 <a rel="noopener noreferrer nofollow" title="hours" href="https://thebittimes.com/tag/hours.html">hours</a>, according to CoinGecko.&nbsp;</p> 
 <div class="cn-block-related-link"> 
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> ‘Rich dad’ Kiyosaki disputes WSJ’s economic narrative, favors Bitcoin 
 </div> <span class="google-news-banner__label">Follow Us on Google News</span> 
</div>

BALD meme coin surges 40,000% in 48 hours and then plunges

Table of Contents

TheBitTimes

Other articles published on Aug 1, 2023

DeSantis Promises to End Biden’s ‘War on Bitcoin’ if Elected President

News to Delight FTX Victims! Bankrupt Crypto Exchange May Be Restarted!

Genesis Settle's With FTX in Bankruptcy, Good News for Gemini?

Shiba Inu Turns 3: Here's How Much SHIB Was Trading on Launch Day

Elon Musk Reveals the Next Key Feature for X (Twitter)

Binance Burns 1.41 Billion Terra Luna Classic (LUNC) Tokens

Join our free newsletter for daily crypto updates!