Squid Sport, the Korean collection which was a current rage on Netflix, now has a spiking market cap.
The series-inspired undertaking is a crypto play-to-earn platform on Binance Good Chain. At press time, the Squid Sport token “SQUID” was priced over $3, up from the lows of $0.5 within the final 24 hours. Additionally, for no obvious motive, the coin is up by a whopping 2500%, with a 90% rise in buying and selling quantity within the final 24 hours, as per CoinMarketCap.
Since its launch in October, the token has seen a large surge.
SQUID GAME MARKETCAP HITS 2.2 BILLION
4000X in since beginning$SQUID CONTRACT ADDRESS
0x87230146E138d3F296a9a77e497A2A83012e9Bc5🥞https://t.co/fOLDcXJeIx
https://t.co/bWM4yBEkm9#LFG #SQUID #Marbles pic.twitter.com/9MfbRjR8W9
— SquidGameBSC (@GoGoSquidGame) October 29, 2021
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In contrast to the prize cap of 45.6 billion South Korean gained and life-threatening duties on the Netflix thriller, the digital recreation has no restrict to profitable potential, or threat to life. Nonetheless, buyers must be aware of this “crimson mild.” CoinMarketCap issued a warning, that it acquired “a number of studies” of customers not with the ability to promote this token on PancakeSwap.
Supply: TradingView
The undertaking helps the SQUID-BNB pair in PancakeSwap. It doesn’t state why some customers are unable to promote their tokens.
Nonetheless, the undertaking White Paper does talk about an anti-dump mechanism on SQUID.
“Shopping for out there will launch promoting credit with a price of two:1.”
It basically implies that “if there isn’t any promoting credit score left within the pool,” customers can’t promote extra, after two buys.
How does the sport make cash?
456 members play the sport with a ticket.
In keeping with the undertaking White Paper, every of the six rounds has predetermined entry charges in SQUID and rewards in NFT. 90% of the entry charges have been added to the pool reward for the final “surviving” winner. SQUID pre-sale had commenced on 20 October, 2021.
Nonetheless, the Squid Video games Beta Model will probably open for 500 gamers in November, earlier than its public launch in the identical month.
It’s noteworthy, that the fandom is leaving customers weak to a current surge in scams and malware associated to Squid Video games. Kaspersky Lab report said,
“From September to October 2021, the researchers discovered a number of dozen completely different malicious information on the net with names mentioning Squid Sport.”
This requires warning on a part of the buyers even on the token entrance, NFT house, and gaming enviornment earlier than accepting the “card.”
Not too long ago, Cryptoeats, which reportedly raised thousands and thousands in seed funding, apparently disappeared after its token launch. The alleged rip-off price buyers $500,000, as per studies.
In one other current incident, Google’s Menace Evaluation Group (TAG) highlighted an ongoing phishing marketing campaign concerning broadcast of crypto scams. The breach focused YouTube creators, channel content material and stay streams.
