In short: Ripple's CTO, David Schwartz, expressed reservations about the new crypto project BEN coin after responding to a tweet from a crypto enthusiast who called it a 100% rug pull. However, Bitboy, the popular crypto influencer, refuted the allegations, stating that they are products of ignorance and hate. Bitboy is now taking over the BEN coin project, which is gaining traction on the chart today in the bullish direction.
Our quick analysis:
The crypto market is never short of surprises, with new coins launching every day. But the downside is that it also attracts scammers looking to deceive unsuspecting investors. Recently, the BEN coin project came under fire when a crypto enthusiast accused it of being a "100% rug pull." Ripple's CTO, David Schwartz, also expressed his reservations about the project. However, popular crypto influencer Bitboy defended the project, stating that the accusations are products of ignorance and hate.
For those unfamiliar with the term, a rug pull is a crypto scam where the project founder suddenly withdraws the project's liquidity, disappearing with investor funds. This leads to a sharp price drop and significant losses for investors. It's a growing concern in the crypto space, and investors must do their due diligence before investing in any project.
While opinions remain divided on the legitimacy of BEN coin, Bitboy's involvement has added some credibility to the project. He is a well-respected figure in the crypto community, participating in projects that have affected over 99% of the community and employing over 40 people. Bitboy urged the crypto community to stop believing memes that can create a negative impression and focus on the facts.
The BEN token launched and traded for two days before BitBoy announced its existence, which raised some suspicions. However, Bitboy stated earlier that the coin was launched to serve as the governance token for his DAO. Today, the token is gaining massive traction on the chart, indicating price volatility for the asset in the bullish direction. While BEN may be relatively new, it has formed several highs and lows on the price chart as market forces act on its value.
In conclusion, the crypto market is full of both genuine projects and scams, making it essential to tread carefully. As the BEN coin saga shows, opinions may differ on a project's legitimacy. Still, it's crucial to do your research and stick to facts instead of being swayed by memes and rumors.
Image provided by Unsplash
Disclaimer: Our articles are NOT financial advice, and we are not financial advisors. Your investments are your own responsibility. Please do your own research and seek advice from a licensed financial advisor beforehand if needed.
Our quick analysis:
The crypto market is never short of surprises, with new coins launching every day. But the downside is that it also attracts scammers looking to deceive unsuspecting investors. Recently, the BEN coin project came under fire when a crypto enthusiast accused it of being a "100% rug pull." Ripple's CTO, David Schwartz, also expressed his reservations about the project. However, popular crypto influencer Bitboy defended the project, stating that the accusations are products of ignorance and hate.
For those unfamiliar with the term, a rug pull is a crypto scam where the project founder suddenly withdraws the project's liquidity, disappearing with investor funds. This leads to a sharp price drop and significant losses for investors. It's a growing concern in the crypto space, and investors must do their due diligence before investing in any project.
While opinions remain divided on the legitimacy of BEN coin, Bitboy's involvement has added some credibility to the project. He is a well-respected figure in the crypto community, participating in projects that have affected over 99% of the community and employing over 40 people. Bitboy urged the crypto community to stop believing memes that can create a negative impression and focus on the facts.
The BEN token launched and traded for two days before BitBoy announced its existence, which raised some suspicions. However, Bitboy stated earlier that the coin was launched to serve as the governance token for his DAO. Today, the token is gaining massive traction on the chart, indicating price volatility for the asset in the bullish direction. While BEN may be relatively new, it has formed several highs and lows on the price chart as market forces act on its value.
In conclusion, the crypto market is full of both genuine projects and scams, making it essential to tread carefully. As the BEN coin saga shows, opinions may differ on a project's legitimacy. Still, it's crucial to do your research and stick to facts instead of being swayed by memes and rumors.
Image provided by Unsplash
Disclaimer: Our articles are NOT financial advice, and we are not financial advisors. Your investments are your own responsibility. Please do your own research and seek advice from a licensed financial advisor beforehand if needed.
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