Solana network-based meme token $MOTHER grabbed huge popularity in the Crypto meme space but the Ethereum co-founder opposed such crypto tokens.
Iggy Azalea is a popular Aussie hip-hop artist. Recently she launched the $MOTHER token on the popular Ethereum rival blockchain network Solana. Despite a rocky start, the meme cryptocurrency has surged in value, attracting both critics and fans in the crypto community.
The current trade price of this meme token is $0.1 & this trade price has been 20% higher over the last 24 hours.
$Mother token pumps 5 fold in 7 days pic.twitter.com/CouSf0icbY
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Many crypto people alleged that the trade price of this meme token surged because of manipulation, while some claimed the rally in the trade price of this meme token was only because of the influence of the Aussie hip-hop artist among its fans.
On-chain investigators noted there was a sale of over $2 million worth of tokens just after the launch, raising concerns about the integrity of the launch.
Azalea responded to the backlash on social media, assuring her followers & fans that she didn’t intend to cause harm. She also promised to support the value of $MOTHER and its investors by hiring a dedicated development team.
Here this is not a single case where we saw meme tokens launched by celebrities, earlier this the crypto community saw multiple endorsements of influencers & celebrities where price manipulation was visible publicly.
Vitalik Buterin, the co-founder of the Ethereum blockchain, responded to such unethical activities & said that he is unhappy with how celebrities are experimenting with new trends. While these trends make celebrities and early adopters rich, they should also benefit the public. Vitalik believes these trends should last more than 10 years and have unique features.
Read also: ETH spot ETF will inject up to $4.8B into the Ethereum market in 5 months: K33 Research
Vitalik criticises Australian rapper and model Iggy Azalea for launching $Mother crypto token
https://bitcoinik.com/vitalik-criticises-australian-rapper-and-model-iggy-azalea-for-launching-mother-crypto-token/feed/
https://bitcoinik.com/vitalik-criticises-australian-rapper-and-model-iggy-azalea-for-launching-mother-crypto-token/feed/
