What to know:
- Binance posted the names of five tokens to one of its Telegram groups before deleting the post shortly after. It then claimed that the information was “false”
- The tokens mentioned spiked to the upside before giving up much of their gains.
- One trader lost $102,000 after buying and panic selling ELIZA at a loss.
As a seasoned crypto investor with battle-scarred fingers from countless ups and downs in the digital asset market, I find myself both amused and disheartened by the latest turn of events involving Binance. The rollercoaster ride that five tokens took after being mentioned on one of their Telegram groups is a classic case of FOMO (Fear Of Missing Out) and FUD (Fear, Uncertainty, Doubt).
On Wednesday, Binance shared a list of potential “alpha watchlist tokens” on one of its Telegram groups. This announcement triggered an increase in the value of these specific tokens. However, Binance later confirmed that the information was incorrect, leading to the tokens losing their recently gained value.
Are you prepared to delve into some promising crypto ventures at their initial stage? Here are five projects, Wise Monkey (MONKY), Happy Cat (HAPPY), Rifampicin (RIF), Zircuit (ZRC) and ai16zeliza (ELIZA), that boast robust foundations and vibrant communities.
Initially, some traders questioned if the Telegram group might be a fraudulent setup aiming to trick users into a potential ‘rug pull’. However, it was later discovered that this group was actually managed by binance_web3_wallet_community, a verified Binance channel.
1) Monkey experienced a 38% increase in value following a previous post, but then dropped by 22% after being removed. A single trader suffered a loss of $102,000 over a 12-minute period by purchasing 1.42 million Eliza at $0.1376 and subsequently panicking selling at $0.09567. The remainder of the position was liquidated at $0.01157 after the false news was verified.
Binance did not immediately respond to CoinDesk’s request for comment.
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2024-12-18 15:17