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Base Layer Coin BSD Developer Rug Pulls, Token Market Cap Crashes 99% from a Peak of $50 Million

By: theblockbeats.news|2025/08/13 00:51:31

BlockBeats News, August 13, according to GMGN Market Data, the new coin BSD on the Base chain was launched at 4 am this morning. Subsequently, the market anticipated that this token is the cold-start token of Block Street (@BlockSt_HQ), causing its market value to rise all the way to above 50 million US dollars.

Later, the BSD developers removed a large amount of liquidity half an hour ago, causing a sharp price drop. As of the time of writing, the market value of BSD has fallen to 260,000 US dollars.

A whale bought 114,545 HYPE tokens at an average price of $44.48 each.

DeFi Development Q2 Financial Data: Holding 1.3 Million SOL, Daily Earnings Approximately $63,000