BALD Memecoin Skyrockets 10,000%, Could It Be Linked to Coinbase’s CEO?

There have been persistent rumours that Coinbase CEO Tom Lee is behind the meteoric rise of the new memecoin BALD.

 

The value of BALD, a new memecoin, has skyrocketed in recent weeks, with prices increasing by an incredible 10,000% in just a few short months. Such rapid expansion has caused investors to react with both excitement and worry.

 

 

 

 

 

 

The Role of Coinbase in BALD

 

 

The BALD memecoin has had an incredible 100X return in just a few hours, according to a market expert on Twitter going by the handle @matrixthesun. This memecoin is distinct because it is compatible with BASE, a blockchain created by Coinbase Crypto Exchange.

 

As a layer 2 scaling solution for Ethereum, Optimism is where BASE has been running. Through off-chain transaction processing, enhanced efficiency, and decreased transaction costs, Optimism seeks to address Ethereum’s scalability issues.

 

In the middle of the excitement around the BALD memecoin, rumours began to circulate that the BALD was linked to Brian Armstrong, the CEO of Coinbase. The researcher discovered a trend that points to associations with access to a lot of $cbETH, the staked Ethereum (ETH) used by Coinbase.

 

Some have speculated that the CEO or another high-ranking employee of Coinbase may have a hand in the relationship. Although this whale’s identity remains a mystery, the substantial quantity of $cbETH in their hands points to a tight association with the exchange.

 

Such a connection raises questions about whether or not the introduction of the BALD memecoin was affected by intimate knowledge and access to confidential information.

 

The expert added another layer of mystery by pointing out that BALD memecoin has recently received a significant infusion of $12 million in liquidity. This large infusion of cash is especially interesting since it occurs at a time when a bridge out of the BASE chain is unavailable.

 

 

 

 

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Do we see Brian Armstrong here?

 

As the rumours spread, all eyes will be on Coinbase’s powerful CEO, Brian Armstrong. Despite the fact that there is no hard evidence connecting him to BALD Memecoin at this time, the conjecture is understandable given his standing in the cryptocurrency field.

 

Important personalities in the crypto space have been known to endorse or take part in memecoin projects in the past, so it’s important to keep that in mind. However, without concrete proof, these associations should be taken with a grain of salt.

 

 

 

 

 

Look More:How to Deposit Crypto on BTCC?

 

 

 

 

 

How to Trade Crypto on BTCC ?

 

To trade crypto on BTCC, follow these simple steps:

 

• Create an account

 

Go to the BTCC website and fill out the registration form with the necessary details. Finish the checks to make sure you’re in line with the stock exchange’s rules.

 

 

• Deposit funds

Fund your BTCC wallet once your account has been created and verified. You can fund your BTCC account with a number of different cryptocurrencies and fiat currencies.

 

 

• Navigate to the crypto trading section

 

You can begin trading on the BTCC platform as soon as your account has been funded. Find the crypto exchange rate, which is written as crypto/Bitcoin (BTC) or crypto/US Dollar (USDT) depending on the other pairs available.s.

 

 

• Choose your trading type

Both spot trading and futures trading are available through BTCC. If you want to purchase or sell crypto tokens at the current market price, you may want to investigate spot trading. If you’d rather trade crypto with leverage and speculate on its price movements, you can do so with crypto Futures.

 

 

 

• Place your trade

After deciding which type of deal you want to make, you can enter the amount of crypto you like to buy or sell, as well as your preferred price (if necessary). If everything checks out, go ahead and make the deal.

 

 

• Monitor and manage your trades

 

Be sure to monitor your crypto holdings on the BTCC exchange. To limit losses and protect gains, you can use stop-loss and take-profit orders. It is also important to keep up with the latest crypto market trends and news if you want to successfully trade this cryptocurrency.

 

 

Before becoming involved in any kind of trading, make sure you’ve done your homework. Due to the extreme volatility of the cryptocurrency markets, it is crucial to have a well-defined trading strategy and risk management framework in place. To successfully trade crypto on the BTCC market and take advantage of the chances it provides, follow these procedures and keep yourself updated.

 

 

Look More:How to Deposit Crypto on BTCC?