, WallStreetBets Coin becomes #1 on CoinMarketCap… kind of

The original coin regarded on the tip of CoinMarketCap’s rankings, nonetheless is WallStreetBets truly coming to crypto?

The affect of Reddit’s r/wallstreetbets sub has it sounds as if unfold to the cryptocurrency place, after a brand original coin regarded on the tip of CoinMarketCap’s rankings on Jan. 29.

Dubbed WallStreetBets (WSB), the original coin it sounds as if won in plot over 130% in the previous 24 hours, with a day-to-day commerce quantity of $100 million.

WallStreetBets (WSB) on CMC. Provide: CoinMarketCap

Alternatively, the original coin appears to be the newest in a series of jokes performed by the CoinMarketCap group. The coin’s page on CMC components the next message:

“All UR MeMes R belong to us and Charmander-marth!!11. We peep alpha and master beta. Please assign that this is a joke and no such asset exists. Whenever you occur to glimpse equally-named initiatives, please type the requisite due diligence and assign now not ape in.”

The reference to Charmander-marth links to a YouTube video that consists of Social Capital CEO Chamath Palihapitiya being interviewed by CNBC concerning his obliging trading of Gamestop (GME) stocks right during the rapid-squeeze initiated by the r/wallstreetbets sub.

The coin’s CMC page affords up a rapid timeline of the Gamestop saga, describing the rapid-squeeze tactic and the next enact it had on the Robinhood trading app, which suspended retail trading for GME and plenty of different other stocks, in conjunction with AMC, Nokia and Blackberry.

Clicking the link to the coin’s whitepaper links to the Twitter page of one @MuzlM_Trader, whose tweet also drew attention to Chamath Palihapitiya’s appearance on CNBC.

The affect of the sub-reddit on the cryptocurrency place used to be also witnessed in the worth surge initiated by Dogecoin (DOGE), which quick broke into the market cap high 10 following a 570% produce bigger to its plan trace. DOGE’s surge used to be also orchestrated on Reddit.

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