A new memecoin craze is taking over the cryptocurrency market, and it’s called BALD. Limited information is available about BALD at the moment.
The memecoin BALD, built on Coinbase’s layer 2 solution Base Blockchain, experienced an astonishing surge of almost 4,000,000% following its launch last night.
As of now, the BALD token boasts a market cap of approximately $63 million and is trading at $0.063. The name “BALD” is believed to be a nod to Coinbase founder Brian Armstrong.
Dexscreener chart showing the bullish BALD price
The identity of the individuals behind the token remains undisclosed. It’s crucial for cryptocurrency users to exercise extreme caution, as Memecoins inherently carry risks and lack intrinsic value. In particular, memecoins within a yet-to-be-launched network can be exceptionally hazardous and prone to fraud.
As of now, the mainnet of the Base network remains inaccessible to users, and the official bridge is only linked to the testnet. While funds manually sent to the official contract address can be utilized on the Base network, it’s essential to be cautious.
Notably, without an official bridge, tokens sent to the Base network cannot be recovered in any manner. Users who generate profits on this network won’t be able to retrieve their tokens yet.
According to the earlier launch plan, Base is set to officially launch in early August.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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