The BALD Truth: From Boom to Bust in 48 Hours

Welcome back to another Trickster Tuesday, brought to you by AsicZ, your reliable source for volume mining equipment and everything ASIC from A-Z. Today, we’re taking a close look at the recent saga of the BALD token, a meme coin that experienced a meteoric rise and a dramatic fall, all within a span of 48 hours. This tale of sudden wealth and abrupt loss serves as a stark reminder of the volatile nature of the crypto market, particularly when it comes to meme coins.

The Launch and Rise of BALD

The BALD token, named humorously after Coinbase CEO Brian Armstrong’s lack of hair, was launched on July 30 on Base Network, Coinbase’s new Layer 2 built on Optimism. The token quickly became a focal point for speculators on the frontier chain, amassing a staggering market cap of $100 million within two days, with over $25 million in liquidity.

The token’s launch was met with a frenzy of activity, with traders rushing to buy the new token on the decentralized exchange, LeetSwap. The token’s price exploded by over 3,000% in a day after its launch, and it seemed like the sky was the limit. However, this astronomical rise was short-lived.

The Rug Pull and Fall

A rug pull is a type of scam where developers hype a project to attract investor funds, then remove all of its liquidity and disappear. This malicious market behavior was evident with BALD, as the deployer added over 6,700 ETH, or over $12.5 million worth of liquidity, to the pool in the first 24 hours. As soon as the deployer stopped adding liquidity, the price stagnated and broke down.

24 hours later, the deployer started bidding on BALD again, causing the price to double. Then, the deployer withdrew over 10,500 Ethereum (ETH), or almost $20 million worth of liquidity, leading to an 85% drop in the token’s value. This dramatic turn of events left many speculators in shock, as the token they had invested in became virtually worthless overnight.

The Timeline of Events

FitzyCrypto provided a detailed timeline of the events surrounding the BALD token. According to the tweet, the BALD developer removed liquidity to create a pump, then completely removed millions in liquidity, causing no pump. The developer was allegedly funded by Alameda and was rumored to be the same as SBF. After the developer bought back 1e and re-added 100e liquidity, the community was back in action, with degens aping BALD.

The Conspiracy Theories

Crypto Twitter was abuzz with conspiracy theories. A tweet from WhaleChart suggested that rumors were circulating that SBF created BALD in collaboration with a government agency to prove how fraudulent crypto is, supporting their case against Coinbase.

The On-Chain Data

Coingraph News reported that Nansen had noted on-chain data of the BALD memecoin’s deployer contract interacting with an Alameda Research-linked wallet. This was noted by blockchain sleuths on social media, adding another twist to the BALD token saga. kPhantom also highlighted that 10,000 ETH (20M$) were extracted from the ecosystem, providing a “bald” story of yet another memecoin.

Lessons from the BALD Saga

As the dust settles on the BALD token debacle, it’s clear that the crypto market is still a wild west, where fortunes can be made and lost in the blink of an eye. It’s a world where the bold and the brave can strike it rich, but also a world where the unwary can lose everything. The BALD saga serves as a stark reminder of the volatility and risk inherent in the market, particularly with meme coins. It underscores the importance of due diligence and cautious investing, especially when dealing with new tokens on new chains.

The Importance of Due Diligence

In the aftermath of the BALD token saga, several lessons emerge. First, the importance of due diligence cannot be overstated. Before investing in any token, especially a new one, it’s crucial to research the project thoroughly, understand its fundamentals, and assess its potential risks and rewards. This involves examining the project’s whitepaper, exploring its use case, evaluating its team and backers, and monitoring its activity on social media and online forums.

The Dangers of FOMO

Second, the BALD token saga highlights the dangers of FOMO (Fear of Missing Out). In the fast-paced world of crypto, it’s easy to get caught up in the hype and make impulsive investment decisions. However, as the BALD token saga shows, such decisions can lead to significant losses. FOMO can cloud your judgment, leading you to overlook red flags and invest in projects without conducting proper due diligence. It’s important to resist the urge to jump on the bandwagon and instead make investment decisions based on careful research and analysis.

The Need for Regulation

Finally, the BALD token saga underscores the need for regulation in the market. While the decentralized nature of crypto offers many benefits, it also opens the door for scams and market manipulation. Regulatory oversight can help protect investors and ensure a level playing field. However, regulation must be balanced with the need to preserve the innovative and decentralized nature of the market. This is a complex issue that requires thoughtful discussion and collaboration among stakeholders, including regulators, industry participants, and investors.

As always, here at AsicZ, we’re committed to keeping you informed about the latest events in the cryptoverse. We believe that knowledge is power, and we strive to provide you with the information you need to navigate the market safely and successfully. Visit to view our full inventory of mining equipment with updating pricing on a daily basis. Follow our blog for daily articles that keep you up to date in the cryptoverse.

Stay tuned for more Trickster Tuesday tales, where we’ll continue to expose the latest scams and tricksters in the space. And remember, always do your own research before diving into the deep end. In the cryptoverse, the only sure thing is uncertainty, and the only constant is change.

The BALD Truth: From Boom to Bust in 48 Hours