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The zombie token apocalypse lurches on
Bequant
Each week, another crypto project ‘moons,’ and many more leave bag holders ‘rekt,’ ever wonder what’s behind these sudden moves?
The Initial Coin Offering (ICO) era reminds many people of scams, over-inflated valuations at launch, and dead on arrival projects that rely on market makers to appear alive, which is akin to an overextended billionaire living on an expensive credit line and, finally, creativity when it comes to the naming of the companies.
Clearly, some founders had a field day flipping through history books and searching for that miraculous Greek god or obscure element meant to instil confidence in token holders and their ‘community.’ If only so much effort actually went into delivering the end product, the market may have evolved faster.