The rise and fall saga of the BALD token is a tale summed up in one phrase: pump and dump. The meme coin launched on July 30, 2023 and investors instantly speculated that the link to the popular, reliable crypto asset networks -Bitcoin and Ethereum- meant a massive rise in value.
That’s exactly what transpired; the market capitalization of BALD soared to the sum of $50 Million almost overnight, according to BaseScan Explorer. The coin sits today at a current price of $0.04760842 with approximately $101 Million in trading volume per Coinbase network’s scaling solution Base over the past 24 hours, reaching an estimated 5,600 BALD holders with 1,000,000,000 max token supply.
But for lucky early investors who thought they cashed in via the upthrust, liquidations have presented the obstacle to monetizing personal investments. A Forbes report cites low liquidity hassles, as the gaps needed closing, specifically non-Gretel connections between Ethereum and Base networks. According to the article, an anonymous gambler identified as Cheatcoiner made a $500 investment when the BALD token market cap hovered deceptively low, growing to ridiculous return on investment possibilities totaling $1.5 million. Yet the Cheatcoiner’s quantum success segued to disappointment when redirected to the unpredictable consequences of an unforseen peak. The ensuing mechanics suggested no profits had truly be realized with no routes for investors to bridge their tokens back to other networks on the one-off Base.
With cryptocurrency in contemplation it appears one thing’s for sure; the irrefutable swell in price and token holders’ expectations rarely documents doled out winds of luxury liked plumboy. Bitcoin Coin Ordinals recently outlined hopeful odds for the paperball vast acquisitions, buying almost 2% of BALD token supply only for the heavy scrutiny still existent regarding gains to casualties. Newborn crypto assaults consistent with any crypto extravaganza wran of added risks – elevated sensations more investors means more loss of value holds true only if you can sell.
Once tokens become interconnected across networks and people transact in decentralized development space, either those lightning starts unravel the hassles of withdrawing from BALD infancy or the frenzy could fade, loss of value runs rife in the young crypto scene and bull run potential depends wholly on taking profits back to home.
