The “magic” of the financial world: It only takes 5 minutes for a piece of squid to go from $ 3,000 to zero.

From "out of the circle" to running, he only uses Squid Coins per week, and it only takes 5 minutes to use Squid Coins from nearly $ 3,000 to zero.

After the popular Korean drama "Squid Game", the cryptocurrency called "Squid Game" has "a long time." On November 4, a Beijing Business Daily reporter noted that there were consumers who had the option of continuing to trade linked tokens even after the Squid Coin, which is in the midst of public opinion, turned negative. . The price of Squid parts is also changing rapidly. Analysts believe that as market interest cools, Squid Coins will gradually fade from public view, like Aircoin, which was previously speculated on Won.

The squid coin that has become an important media symbol

On November 4, a Beijing Daily Trade reporter reported that after the November 1 plunge and the price of coins returned to near zero, Squid Coins are still trading, but the volume has declined and the exchange rate has fallen. is still at a critical level. level.

According to data from CoinMarketCap, the global cryptocurrency trading center, at 11:15 a.m. on November 4, the exchange rate for the Squid coin rose from $ 0.037 to $ 0.1581 in the short term, an increase of 327. 3%. And after receiving over 2000% in 24 hours, it plays out amazingly reducing revenue.

As of 7:50 p.m. on November 4, Squid Coins were up 367% for 24 hours to $ 0.0845, and the volume market was up 928.44% for 24 hours to $ 67,600,000. In the last 24 hours, the high Squid coin trading price was $ 0.1743 and the low price was only $ 0.01078.

According to a Beijing Daily Business reporter, Squid Coin is a game released by the "play-to-earn" video game company after Netflix's Korean drama "Squid Game" gained worldwide popularity. It is the only cryptocurrency platform. The game was originally scheduled for 2021. The game was released in November 2015. Game details follow the story of the TV series. Players have to buy and pay for Squid Coins to earn more Squid Coins, which are used for other trades. Cryptocurrency that knows the benefits. Some of these tiers require users to purchase custom NFTs that can cost thousands of dollars.

There is no limit to the number of participants, no cap on the ultimate bonus ... The "play to win" cryptocurrency squid-ball coin went online and then went into incremental high mode . Exchange of October 26.

According to the Squid Coin historical data exchange, the export price of Squid Coin is $ 0.0123 and the market value of Squid Coin for November 1 is $ 38.48. Over 230,000 views from the first week of broadcast. However, many squid pieces were sold for high prices because the manufacturers held them, and within 5 minutes of their peak, the squid pieces fell faster. In 5 minutes the price hits zero and the lowest trading day of the day is. less than $ 0.0007.

Squid Coins The unusual flash crash of the "Rise Against Bitcoin" gadget sparked controversy and once again worried the cryptocurrency risk market. According to Pan Helin, expert and director of the Digital Business Center at Central South Economic Law University, the spread of foreign profits has created a lot of hype. It is difficult to distinguish between true and false, and it also gives the possibility of cryptocurrency fraud.

Analysis's chief analyst Su Xiaorui said that the Squid coin pattern indicates and is one of the major changes in the value of cryptocurrencies because it has no real value, it is an estimation tool, so the value of currency also fluctuates. with a business perspective. . And there is no shortage of “hands” behind Squid Coins to control trades and profits.

“Using the world-famous 'Squid Game' TV series, Squid Coin combines market hotspots and cryptocurrency hype, attracting more investors to the market and ultimately reaping,” said Su Xiaorui. .

And the user is lucky

A reporter from the Beijing Business Daily researched major exchanges such as Huobi, OKex, and Binance and found that no platform involved could start trading squid coins. .

A global investor told the Beijing Business Daily that stocks such as squid coins are short lived and data output uncertain. - A combination of buyers and sellers can be seen. "All benefits can be traded on the exchange rate, which means more risk."

The above-mentioned investors have pointed out that the Squid Coins explosion represents a mat use scam in the global financial world. Through speculation and control, the value of the cryptocurrency continues to rise, and after a short period of time, it hits a “stack” and the value of profits drops, and your profits are worthless.

Meanwhile, a Beijing Daily Trade reporter pointed out that there were situations where Squid Coins could not be sold on the stock exchange before the explosion. At the same time, the short registration period on the official website of the Squid Coin feature and the grammatical errors in the job description also lead to uncertainty. At the top of CoinMarketCap's Squid Coin info page, “This project is not Netflix's official IP address, but has the same name,” reminds us of the dangers of Squid coins.

In the opinion of analysts, similar to the setting for the movie from the TV series "One Person Can Survive in the End", Squidcoin will end up with only a marching team that has just been rescued. Earlier data indicated that some users traded $ 3.38 million worth of Squid Coins for Binance Coins (BNB) when Squid Coins fell. Binance marked the address as “fraudulent”.

On November 4, a reporter from the Beijing Business Daily discovered that Squidcoin's website and community funds had been blocked and the free form would no longer exist.

Regarding the recent price of Squid Coin, the market has announced that Binance will investigate the Squid Coin issuer who has taken an interest in Binance's interests, and many holders are happy with the return of the price, others associate. changes in affected outcomes.

“Advertising in cryptocurrencies is a bit of a secret,” said Su Xiaorui, “when investors see a movement of money, it is often too late to stop it. At the same time, it's hard to tell developers after the transition. " noted. Reviews show that consumers who still trade on this subject are indeed lucid. is most likely to be caught in

Additionally, in response to the establishment of a team by Binance to investigate the unique activities and upgrades of operator Squid Coin, a reporter from the Beijing Daily Business also tried to verify Binance, but did not could not find any contact information.

Stay away from cryptocurrencies

Squid Coins, which go from 1 cent to almost $ 3,000 and close to zero in under 5 minutes, are fantastic, but reintroduce the “magic” side of the coin circle.

Even on public social media, many netizens joke that it is "rooting out the leek" rather than "slicing the leek". Regarding the recent exchange rate of the squid dong, some netizens replied, “I didn't make enough money once, but I always want to touch it again.

Su Xiaorui pointed out, "The squid room project is the same as the previous weather project. The broadcast is uncertain, and there is no actual working time and no special applications." “It is also a major cause of domestic violence. First, a ban on the use of bank cryptocurrencies and their transactions will reduce the risk of fraud in our country code and better protect users from fraud.

Pan Helin told a Beijing Business Daily reporter that Air Coin has the following characteristics: Second, the exchange rate is high, participants can control the blockchain to count energy, and third, there is no credit guarantee for advertising.

Pan Helin added that overall, Aircoin could not fulfill its trusted role in blockchain technology, and if blockchain were to be controlled by a number of oligarchs, cryptocurrencies would become a winning asset for banks to raise funds. funds.

Regarding how home users can prevent these scams, Pan Helin spoke about the current attitude of cracking down on and wiping out cryptocurrency and the domestic market. The only way regular users can avoid risks is to avoid participating in disruptive activities. To prevent new virtual frauds from happening in our country, we must guard the doors of the country.

Su Xiaorui also said that ordinary investors should understand the situation and stay away from the current cryptocurrency market and illegally affected activities.