Soccer legend Lionel Messi has entered the world of crypto, selling WATER Coin (WATER), a Solana-based memecoin, on his Instagram Tales.
The WATER undertaking goals to sort out water-related environmental points. Its roadmap contains 4 phases: presale and decentralized alternate itemizing, centralized alternate itemizing and non-fungible token (NFT) assortment launch, celeb partnerships, and, in the end, turning into an ecological forex devoted to charitable efforts.
Regardless of its formidable targets, the undertaking lacks detailed plans on how these aims shall be achieved. Furthermore, the token’s value has proven typical “pump and dump” habits, surging practically 400% inside two hours earlier than dropping by 50%.
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A major threat lies within the token’s provide focus. In response to blockchain information service Bubblemaps, 30% of WATER is held by insiders, prompting warnings for traders to be cautious.
Regardless of these issues, Messi’s endorsement has attracted many traders to WATER. The token’s 24-hour buying and selling quantity has reached practically $136 million, and its market cap has surpassed $80 million.
This situation mirrors latest 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 publish stays on his Instagram with none claims of hacking.
Whereas the WATER undertaking goals to make a optimistic environmental affect, it stays to be seen if it is 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 Struggle II period.With near a decade of expertise within the FinTech business, Aaron understands the entire largest points and struggles that crypto lovers 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 business newcomers.Aaron is the go-to particular person for the whole lot and something associated to digital currencies. With an enormous ardour for blockchain & Web3 training, Aaron strives to remodel the house as we all know it, and make it extra approachable to finish newcomers.Aaron has been quoted by a number of established retailers, and is a printed creator himself. Even throughout his free time, he enjoys researching the market traits, and searching for the subsequent supernova.
