Wednesday, February 28, 2024
15.9 C
New Jersey

The Coinbase blockchain sends L2 BASE up by 250%

Must read

Gherardo Fiorenzo
Gherardo Fiorenzo is an Italian author with a unique perspective shaped by his experiences in Italy and the US. His thought-provoking articles, short stories, and reviews explore the intersections of language, identity, and culture.

Coinbase has launched a Layer 2 blockchain caused Somewhat exciting in crypto industry, with BASE tokens are experiencing an incredible boom of over 250% in just 24 hoursafter announcement.

Al-Qaeda token’s price It increased from $1.90 to over $6.80, with trading Trading volumes increased from $46,000 per day to over $566,000 in price summit. on time of writingand trading Volume increased to more over $1.1 million.

BASE founders claim it is representation of the entire coding field

despite its location small market Capitalization of just Million dollars token’s creators We say it represents the entire crypto industry.

that it creators document it allows Traders to speculate on crypto industry with just one token.

However, the narrative of Al-Qaeda token Not done yet catch on with Most cryptocurrency investors.

According to Token Sniffer, a smart contract fraud scanner and crypto monitoring firm, four malicious impersonation tokens have been generated since the launch of the Coinbase testnet. on BuildOnBase, exploiting the hype surrounding Layer 2 network.

All fraud tokens are called BASE and are generated with Ethereum and Fantom Chains.

The company warned investors of these fraudulent symbols out Often impersonating scammers use trade mark of Well-known companies that do not have their own tokens to defraud unsuspecting investors.

In contrast, scammers are hotspots program Smart contracts their tokens to discourage buyers from reselling them. Token Sniffer recommended investors to validate the product of the token before investing.

Moreover, the launch of Coinbase of Its underlying blockchain has not been smooth so far, with Users who express their dissatisfaction with the network’s performance and public functions on Twitter after the testnet was rolled out on February 23, 2023.

After reaching an all-time high of $7.98 in March 2022, BASE token Prices corrected amid heavy profit-taking, falling overnight to trade just over $2 in Asian morning hours on February 24, 2023.

Despite BASE’s claims to represent the entire crypto industry, cryptocurrency enthusiasts have yet to embrace the narrative. of the token Widely.

During Coinbase’s Layer 2 blockchain launch caused BASE tokens to increase and decline within 24 hoursHe. She remains to look at her how the token will perform in the futureespecially with the creation of Malicious impersonation codes and dissatisfaction among users with The underlying blockchain network functions.

More articles

Leave a Reply

Latest article