Soccer legend Lionel Messi has entered the world of crypto, selling WATER Coin (WATER), a Solana-based memecoin, on his Instagram Tales.
The WATER challenge goals to deal with water-related environmental points. Its roadmap consists of 4 phases: presale and decentralized trade itemizing, centralized trade itemizing and non-fungible token (NFT) assortment launch, celeb partnerships, and, finally, changing into an ecological foreign money devoted to charitable efforts.
Regardless of its formidable objectives, the challenge lacks detailed plans on how these targets will probably be achieved. Furthermore, the token’s value has proven typical “pump and dump” conduct, surging almost 400% inside two hours earlier than dropping by 50%.
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A big threat lies within the token’s provide focus. In line with blockchain information service Bubblemaps, 30% of WATER is held by insiders, prompting warnings for buyers to be cautious.
Regardless of these issues, Messi’s endorsement has attracted many buyers to WATER. The token’s 24-hour buying and selling quantity has reached almost $136 million, and its market cap has surpassed $80 million.
This state of affairs mirrors current incidents the place hackers hijack celeb social media accounts to advertise crypto, as seen with actress Sydney Sweeney, rapper 50 Cent, and wrestler Hulk Hogan. Nonetheless, Messi’s endorsement seems real, because the submit stays on his Instagram with none claims of hacking.
Whereas the WATER challenge goals to make a optimistic environmental impression, it stays to be seen if it’s going to ship on its guarantees or fade away as one other fleeting crypto development.
Having accomplished a Grasp’s diploma in Economics, Politics, and Cultures of the East Asia area, Aaron has written scientific papers analyzing the variations between Western and Collective types of capitalism within the post-World Warfare II period.With near a decade of expertise within the FinTech trade, Aaron understands the entire greatest points and struggles that crypto fanatics face. He’s a passionate analyst who is worried with data-driven and fact-based content material, in addition to that which speaks to each Web3 natives and trade newcomers.Aaron is the go-to individual for every little thing and something associated to digital currencies. With an enormous ardour for blockchain & Web3 schooling, Aaron strives to rework the house as we all know it, and make it extra approachable to finish inexperienced persons.Aaron has been quoted by a number of established retailers, and is a broadcast creator himself. Even throughout his free time, he enjoys researching the market traits, and searching for the following supernova.
