In a daring transfer throughout the Solana group, a co-founder has sounded the alarm, cautioning in opposition to the participation in presale occasions. This warning stems from grave issues surrounding the credibility and security of such initiatives, urging rapid motion from customers. Shockingly, current findings by ZachXBT have uncovered a staggering $122.5 million raised throughout 27 presale occasions since March 12.
These revelations expose the pervasive presence of doubtful initiatives and outright scams lurking throughout the Solana ecosystem. Furthermore, business consultants are echoing the cautionary tone, drawing parallels between present token presales and the turbulent days of ICOs, the place traders confronted substantial dangers and losses.
Responses and Measures Taken
Amid the escalating issues, distinguished alternate HTX has stepped up, asserting a proactive measure in collaboration with Smolecoin. They’re facilitating refunds for customers affected by the tumultuous presale occasions, showcasing a dedication to safeguarding investor pursuits.
Additionally, Dexter, founding father of one other Solana meme coin mission, has made a pledge to situation refunds and implement sturdy risk-mitigation methods. These responses underscore the significance of taking decisive motion to mitigate dangers related to meme coin investments and make sure the safety of traders’ hard-earned funds.
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Impact on Meme Coin Trading and Solana’s Fee Capture
The fallout from these presale occasions has reverberated throughout the meme coin panorama, resulting in significant declines within the values of widespread tokens like PEPE, WIF, FLOKI, and BONK. However, amidst the turmoil, Solana’s charge seize has surged, surpassing even that of Bitcoin.
This surge is attributed to the booming on-chain buying and selling of meme cash, with Solana constantly capturing every day charges exceeding $3 million for 3 consecutive days, setting unprecedented data. Nonetheless, the exuberance is dampened by the setback encountered by the Slerf mission. Presale traders in Slerf have been dealt a heavy blow, with losses exceeding $10 million as a consequence of unlucky mishaps throughout the mission’s growth.
Also Read: UK Financial Watchdog Intensifies Fight Against Crypto Scams
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