In the recent turmoil in the altcoin market, a new meme coin, BALD, has managed to grab the attention of investors, with a staggering 10,000 percent increase in value over the past few weeks. While excitement and caution were intertwined, rumors of a mysterious affiliation with Coinbase, a leading crypto exchange, intensified the speculative enthusiasm surrounding BALD. Here are the details…
Altcoin rising 10,000 percent excited investors
Market analyst @matrixthesun has been at the forefront to draw attention to the meteoric rise of the BALD meme coin. Notably, the meme coin has made a staggering 100x return in just a few hours. However, what sets BALD apart from other meme coins populating the market is its compatibility with BASE, a cutting-edge Blockchain developed by Coinbase. Currently based on Optimism, an Ethereum layer 2 scaling solution, BASE aims to overcome Ethereum’s scalability challenges by processing transactions off-chain, thereby increasing efficiency and reducing transaction fees. This compatibility gave BALD a unique advantage, increasing the demand for the coin. As we reported as Kriptokoin.com, it contributed to its exponential growth.
https://twitter.com/matrixthesun/status/168551920547956736
The intrigue surrounding BALD intensified when rumors emerged suggesting a link between the meme coin and Coinbase’s CEO, Brian Armstrong. The link was highlighted by @matrixthesun, who noted a pattern that points to ties with a substantial supply of Coinbase’s staked Ethereum (ETH) variant, $bETH. While the identity of this whale is unknown, the substantial amount of cbETH under their control points to a potential close relationship with the trading platform.
There is no official statement about the meme coin
Investors have expressed concern about the consequences of such a link, as it could mean access to insider information and proprietary information that could affect the timing and execution of BALD’s launch. The existence of a significant $12 million liquidity injection into the BALD meme coin raises the curiosity even more, especially as it happens at a time when it is not possible to exit the BASE chain. This unusual event has only fueled speculation and curiosity.
As of now, there is no concrete evidence directly linking Brian Armstrong with the BALD meme coin. Considering his influential position in the cryptocurrency industry, it’s understandable that attention has shifted to him. However, it is important to remember that prominent figures in the crypto space have occasionally been associated with meme coin projects without verified evidence in the past, leaving such links as mere speculation. Currently, investors and observers remain vigilant, waiting for verified information that could shed light on the alleged Coinbase-BALD link.
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