Squid Game, one of the latest Netflix series watched like crazy all over the world, still continues to make you feel its popularity. The series has also appeared in the crypto money market in the past few days. However, behind the cryptocurrency with the same name as the series, there were no producers of Squid Game or anyone related to the series.
The people who released the Squid Game (SQUID) promised that Squid Game games would be played online on a platform to be created. Players who paid a certain amount of SQUID for each game would get their share if there was a winner. 10% of the share would go to the producers of the game as a commission. But when there is no game or anything concrete yet, forget about commission, all the money is gone.
Rise like an anecdote,
SQUID, which was just released on October 26, opened at about 0.012 and started to gain value suddenly after it was heard. The cryptocurrency experienced a very interesting rise this morning after hovering around $35 levels yesterday. It rose to $100 at 10 am, exceeded $500 at 12, exceeded $1,700 at 12.30 am, and by seeing $2,856 at 12:35 am, the veteran of years challenged Ethereum, which is standing with its solid project.
It ended with a fall like a joke:
SQUID, which was $628 at 12.25 p.m. and $2.856 at 12.35 p.m., dropped to 0.0007926 just 5 minutes later. Even though it has increased a bit after that, it is currently hovering around 0.0025 levels. This unprecedented huge movement, which took place in just 5 minutes, has of course made its name in the history of crypto money as a fraud event.
SQUID had a market cap of around $30 billion as soon as it hit its $2,856 peak. All that money evaporated in 5 minutes.
The website and social media accounts of the project were closed.
The project’s website and social media accounts were shut down after the cryptocurrency’s value depreciated so much that we could not calculate in just a few minutes. However, SQUID was also closed for trading.
3362
