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Base Is for Everyone: What Just Happened?
The cryptocurrency world was left stunned last week when Base, a popular platform, dropped a token and immediately sparked controversy. The move has been widely criticized by the community, with some even calling it “terrible for the industry”. But what exactly happened, and is this experiment worth discussing?
It all began when Base announced the launch of their token on Twitter, which sent shockwaves throughout the crypto space. Critics were quick to point out that just three wallets controlled nearly 47% of the total supply, with one wallet alone holding a staggering 25.6%. This has raised serious concerns about the potential for market manipulation.
Despite the backlash, Base and its creator Jesse Pollak have stood by their decision, arguing that putting content on-chain is the next frontier in marketing. According to Pollak, this move allows creators to bring their assets on-chain and potentially create new income streams. The platform even received 10 million tokens as an original content creator and has vowed not to sell them.
Base’s move has also been criticized for its potential impact on market volatility. Volume bots were used to amplify the token’s value, leading to a surge in trading volume and price fluctuations that have left many investors shaken.
But what does it mean?
Source: https://www.coinspeaker.com/base-is-for-everyone-what-just-happened/
