read.cash is a platform where you could earn money (total earned by users so far: $ 828,339.73).
You could get tips for writing articles and comments, which are paid in Bitcoin Cash (BCH) cryptocurrency,
which can be spent on the Internet or converted to your local money.
Lodicoin became the trending topic in the Philippines cryptocurrency community due to the unexpected crash. Anyway,what exactly is Lodi Coin?
According to the official definition from the developers, LODICOINis a Filipino based cultural utility token & play to earn social media platform that allows its users to create NFTs and earn money by liking, sharing and commenting on community members’ posts.[Source]
By understanding the definition, the model is can be compared on how noise.cash and noise.app works where, the users can earn by making comments, discuss and sharing contents to the other community members.
For additional info, Lodicoin is came from the reversed word "Idol"that usually uses by many Filipinos to call their friends especially Gen-Z and Millennials.
Lodicoin has settled an exact date for their official launch. The date was on Tuesday September 20, 2022 but suddenly, a 98% crash was happened before the official launched. Which means, there's something fishy happened behind. What's more?
A Facebook Page called PH Metaverse has sticked their eye to the said token until they monitored something unusual. Lodicoin started a trading an hour before the announced time for the final launch. This activity lead the lost of almost 100% of the liquidity that makes the investors panic and sell their Lodicoins.
With that impactful activity from unknown person, an exact amount of $9000 from the liquidity pool got cleaned and make the token dumped to the very bottom.
According to the investigation of some of the Tiktok content creators, these wallet address(0x8da092aa15476b3b1dC1e35956f57a61968E69D6 and 0x2bfc0F82b7E485c165B28d42934e41392be77b0E) are the wallet used by that person. Up until now, no one can't identify who is the person behind that wallet addresses.(due to blockchain transparency)
By monitoring the transactions and those wallets activities, the own swapped the lodicoins to BNB , the owner send the said BNB to the Gate.io and Binance for possible trade.
To make the investors believe that the incident was not made by the owner or lodicoin founder, the CEO named Jason Steele made an announcement Tiktok video that they are not the responsible people behind that "Rug Pull" and Selling Spree of the Lodicoins.
As of the moment, the token price is currently at $0.0000160629 per token. The presale price was $0.000085 then suddenly dropped to $0.000016 10minutes before the official launch.
A Facebook Page PH Metaverse suspected that there is inside trading which is pretty obvious with that kind scamming thingies. Just a normal days in Crypto Space lol.
Cypto Space has come with unpredictable things. As what crypto experts and enthusiast said, "Invest what you can afford to lose". Crypto is a high risk also comes with high rewards, if you don't have a stone like heart , crypto is not for you.
Fellow Filipinos? what can you say about this sad news? Did you invest in Lodicoin too? let me know in the comment section.