The influence of a subreddit called r/wallstreetbets has spread even within the cryptocurrency industry. On January 29, the new coin WallStreetBets (WSB) appeared at the top of the CoinMarketCap rankings. WallStreetBets (WSB) at the top of CoinMarketCap's rankings A new coin called WallStreetBets (WSB) has gained over 130% in the last 24 hours. Its daily trading volume reached $100 million. However, it looks like the new coin is the latest in a series of pranks by the CoinMarketCap team. The project page on CMC shows the following message: All UR MeMes R belong to us and Charmander-marth!!!11 We are looking for an alpha and a beta master. Please note that this is a joke and no such assets exist. If you see similarly named projects, please do the required due diligence and do not monkey around. The Charmander-marth reference links to a YouTube video in which Social Capital CEO Chamath Palihapitiya is interviewed by CNBC regarding his successful trading of Gamestop (GME) shares, during a short-squeeze initiated by the r/wallstreetbets subforum. The CMC coin site provides a brief timeline of the Gamestop saga. It details the short-squeeze tactic and its subsequent impact on Robinhood's trading application. Robinhood suspended retail trading for GME and several other stocks, including AMC, Nokia and Blackberry. Clicking on the whitepaper coin link takes you to the Twitter page of someone named @MuzlM_Trader. His tweet drew attention to Chamath Palihapitiya's appearance on CNBC. DOGE is up nearly 800 percent! The subreddit's impact on the cryptocurrency space was also evident in the price jump initiated by Dogecoin (DOGE). This meme coin briefly broke into the top 10 ranking of cryptocurrencies in terms of market capitalization as its price increased by almost 800 percent. The rise of DOGE was also triggered by the Reddit community. Tags CoinMarketCap doge dogecoin WallStreetBets
No comments:
Post a Comment