China News Daily TheBitTimes.com

Ahead of the long-awaited season 2 release of the popular South Korean Netflix (NASDAQ: NFLX) show Squid Game, it has sparked a sort of a frenzy in the cryptocurrency market, which has witnessed the appearance of new assets and reawakening of the old assets inspired by the show. Specifically, one of these tokens is the one that was allegedly the vehicle of a rug pull back in 2021, although subsequently, its revived CoinMarketCap page stated the project had migrated to a new contract address, “now ostensibly run by the community after the initial rugging allegations.” Origins of a rug pull As a reminder, investors in the ‘original’ Squid Game (SQUID) token, which by October 2021 had soared over 40,000% since its launch, faced problems trying to sell their SQUID, and its value crashed to zero by November 1, 2021, leading to significant financial losses and rug pull claims. Picks for you ...

Ethereum proponents celebrated the growth in daily revenue, while many others pointed toward network congestion and difficulty in usage. Ethereum network ’s gas fee skyrocketed to a new multi-month high amid a growing memecoin frenzy . The high Transaction Fee has swelled Ethereum’s daily revenue multifold compared to Bitcoin (BTC). While Ethereum proponents celebrated the growth in revenue, many others were quick to point out the growing congestion on the network and the difficulty in processing transactions. There was an unusual shift in the top 10 gas-burning altcoins where instead of ETH (ETH), WETH, and USDT (USDT), memecoins such as TROLL, APEDand BOBO were among the top 10 spenders. ️ A highly unusual shift in top 10 gas burning #altcoins has emerged today. Instead of $ETH, $WETH, and $USDT being at the top of the fee distribution list, we're seeing new assets like $TROLL, $APED, and $BOBO among them. Read our latest deep dive. https://t.co/7SlmJ59k2m pic.twitter.com/Y2...