• A new meme coin called Bald has surged by over 40,000 percent in the past 48 hours to move from a $0 market cap to $50,000.
• Analysts have speculated that Coinbase CEO Brian Armstrong is involved with the project due to strange moves on their blockchain.
• Some investors have reported profits of up to 10,000% ROI after investing in the cryptocurrency.
A new meme coin called Bald has made an unprecedented surge in the last couple of days – moving from almost $0 market cap to $50,000 and providing investors with up to 10,000% Return on Investment (ROI). Coinbase CEO Brian Armstrong has been suspected to be involved in this project as analyst observes strange moves on their blockchain.
The Surge of Bald
In the past 48 hours, Bald has surged by over 40,000 percent – increasing the investment portfolio of investors significantly. According to market data, $BALD has had more than 11,000 transactions in 24 hours and 4,300 holders. One pseudonym trader Cheatcoiner reportedly invested $500 and made a profit of $1.5 million due to its recent run.
Reasons for the Surge
The surge of Bald can be ascribed to several factors. Firstly, Coinbase recently created a new blockchain called Base which is built on Optimism – a technology that boasts improved scalability solutions in Ethereum. Secondly, there is significant hype surrounding Coinbase listings which often leads to price surges for cryptocurrencies listed on it – making it likely for Bald’s recent surge as well. Finally, there are narratives behind Base Network’s assets becoming meme coins which may also be having an impact on its growth rate over the last few days.
Rumors Concerning Brian Armstrong
Rumors have emerged that Coinbase CEO Brian Armstrong is involved with the Bald meme coin – possibly due to his connection with a large supply of cbETH (Coinbase’s variant of staked Ethereum). Market analyst Matrixthesun claims that Baldwin achieved a return of more than 100 times since its launch – making it different from other similar coins due to its compatibility with Base Network as well as these rumors concerning Mr Armstrong’s involvement.
Meme coins like Bald require very little fundamentals before they gain traction and can make huge returns for those who invest wisely – as seen through this example where some investors claim profits up 10k%. While rumors suggest that Brian Armstrong may be behind this project due reasons such as his connection with cbETH and other narrative surrounding Base Network’s assets becoming memes; only time will tell if these suspicions are confirmed or not