 | After years of anticipation PulseChain the copy of eth which will give you a pulsechain copy of every ERC20 token you currently have has launched. If you have 1,000 USDC in the Ethereum network, you now have 1,000 USDC on the Pulsechain network. How does the new USDC on Pulsechain have any value? https://i.redd.it/ykhhzxz6miza1.gif If you have one of those bored ape NFTs on Ethereum well now you have one on PulseChain as well. How does the new bored ape have any value? So now that we have established that we don't know how new PLS versions of tokens on a fork of Ethereum have any value lets look at what is actually happening to HEX the eth token that promises to give you more HEX for locking up your current HEX without the token really doing anything other that being locked up by user to generate more HEX, where does the new HEX Value come from? Anyway since Pulsechain has no actual value in it, the users are now selling off their HEX on Ethereum to move liquidity over to Pulse which is crashing the price of HEX (the token you lock up for periods of time to earn more HEX). It fell more than 50% before recovering a bit and then starting to fall again. currently down 47% The people selling their $HEX to buy Pulsechain tokens are extremely excited right now because they are seeing the numbers on their trades in the hundreds of thousands, some are millionaires on paper right now. They do have one small problem, those numbers are based off of PUSDC which is worthless since Circle is not going to honor a copy of USDC made by Richard Hart on his own chain. You can see some of the PulseChain tokens people are trading here they are trading pulsechain copies of USDT, USDC, Dai, SHIB, PEPE, LINK This is going to end bad for the HEXICANS In conclusion - it's probably better to risk your money on the next shitcoin made by a random anonymous person on twitter than investing in PulseChain. [link] [comments] |
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