US -based crypto currency exchange CoinbaseSupported by the Layer-2 Network Base, 95 percent of a short-term collapsed Coin exposed to explicitly supported a coin was subjected to intense criticism. The rapidly rising after the introduction and then almost completely collapsed, the altcoin called Base Base is for Everonee çıktı reached a market value of about $ 17.4 million. However, the fluctuation caused serious confidence erosion in the crypto currency community.
Shares about Altcoin flared reactions
BaseOn Wednesday, he shared a shipment titled Bas Base is for Everone ında in Zorla on Wednesday. Since each shipment on this platform was automatically token, the content in question turned into a Coin. On the same day around 15:12 Base’s official X account shared the image of this post and gave a connection to Coin’s page.
This sharing Base’s sharing altcoinIt caused the market value to exceed $ 17 million in a short time. However, a harsh wave of sales soon came and Coin’s value fell by about 95 percent, causing great damage. According to Dexscreener data, this decrease was about $ 15 million depreciated. While users described this process as “pump-and dump ,, he accused Base and Coinbase of indirectly encouraging investment in such a speculative being.
CEO of AP Collective Abhishek PawaHe said that the collapse began with sudden sales of three large wallets with 47 percent of Coin’s supply. He also stated that Base’s encouraging Coin had seriously shook community confidence due to his bond with public coinbase.
“Contentcoin” from Base and Jesse Pollak
Following the criticism, Base said that they did not remove the Altcoin by publishing a statement. That the post in Zora, the spokesman of the platform, is automatically token, this coinstressed that they are not an official Base Coin and did not make any sales. Coin’s statement also stated that there was no direct connection with Base or Coinbase, and Coin should be taken for entirely entertainment and creative purposes.
In addition, BASE announced that they will never sell these coins, even though 10 million of the 1 billion units are creator, and that the wages obtained will be given as a grant to projects that develop on Base.
Jesse Pollak And the Base team continued to share the concept of “Contentcoin yerine instead of directly addressing the decline. Contentcoin is defined as an experimental model in which each piece of content is represented as its own coin and the content itself is Coin and Coin is also content.
Pollak said that it is necessary to carry the contents in the chain and that such experiments are part of their visions. However, many users stated that these statements were inadequate and late after the major losses.
A user named Clark10x commented that if you shared this statement just below the purchasing link and before collapse, most of this anger would not occur ”. Pawa said that the idea was innovative, but the application is literally disaster, and the lack of communication and the inability to manage expectations lead to great disappointment.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
