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BALD, a memecoin on Coinbase’s L2 network Base, fell sharply in price on Monday after developers pulled 6,800 ETH from the coin’s liquidity pool. Data from Basescan BALD, a token launched on Coinbase’s Layer 2 network Base, lost 90% of its value after hitting a peak market capitalization of $85 million on July 31. Blockchain users BALD, a memecoin on Coinbase’s L2 network Base, fell sharply in price on Monday after developers pulled 6,800 ETH from the coin’s liquidity pool. Data from Basescan The reduced liquidity caused BALD to flash crash over 90%. After the dust from the rug pull settled, the whale walked away with a net profit of 2,789 ETH, or $5.2 million In mid-July, Coinbase launched its Ethereum-based Layer 2 solution called Base, which has now become accessible for developers. Recently, there has been a notable The token, which garnered significant attention and excitement among trading circles, suffered a major setback as the token’s deployer removed millions of dollars worth of liquidity. This

BALD Memecoin Rug Pull: Developer Withdraws Liquidity, Sparking Fears

The crypto world is once again facing BALD news, this time involving potential rug pull fears. BALD, a memecoin on Coinbase’s L2 network Base, fell sharply in price on Monday after developers pulled 6,800 ETH from the coin’s liquidity pool. Data from Basescan is revealing the extent of the damage and fueling concerns about trust in the emerging Base network.

BALD Price Crashes 90% After Liquidity Removal

BALD, a token launched on Coinbase’s Layer 2 network Base, lost 90% of its value after hitting a peak market capitalization of $85 million on July 31. This dramatic decline highlights the risks associated with investing in new and often unaudited memecoins. Blockchain users are now scrutinizing the events surrounding the BALD token for signs of manipulation and potential fraud.

Developer\'s Actions Lead to "Rug Pull" Accusations

The core issue revolves around the removal of a substantial amount of liquidity from the BALD pool. BALD, a memecoin on Coinbase’s L2 network Base, fell sharply in price on Monday after developers pulled 6,800 ETH from the coin’s liquidity pool. Data from Basescan confirms these transactions, raising serious questions about the developer\'s intentions.

The Impact of Reduced Liquidity on BALD

The reduced liquidity caused BALD to flash crash over 90%. After the dust from the rug pull settled, the whale walked away with a net profit of 2,789 ETH, or $5.2 million This devastating outcome serves as a stark warning to investors about the vulnerabilities present in decentralized finance (DeFi) and the importance of due diligence.

Coinbase\'s Base Network Under Scrutiny

In mid-July, Coinbase launched its Ethereum-based Layer 2 solution called Base, which has now become accessible for developers. Recently, there has been a notable influx of new projects onto the Base network, but the BALD incident casts a shadow of doubt over the platform\'s security and the integrity of its developers.

A Major Setback for a Promising Token

The token, which garnered significant attention and excitement among trading circles, suffered a major setback as the token’s deployer removed millions of dollars worth of liquidity. This action has eroded investor confidence and raised concerns about the future of BALD and other memecoins on the Base network. The BALD rug pull serves as a crucial lesson for the entire crypto community.

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