Scroll Ecosystem Stablecoin CHI Suspected Rug Pull As Price Crashes 98%

Quick Summary:

In a riveting turn of events, Scroll ecosystem’s stablecoin project Essence Finance raised substantial investor concerns across the broader market on Saturday amid rugpull speculations.

Notably, the project is suspected of being rug pull as its stablecoin, CHI, witnessed a phenomenal price crash of 98%.

Further, the coin witnessed a 33% drop within the hourly duration, garnering further bearishness among market participants.

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Article Details

Category: Crypto

Markets: India

Topics: Stablecoin Rugpull Altcoin News Rollups 24/7 Cryptocurrency News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-26 @ 08:02:37 (6 days ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 354 words

Reading Time: 2 minutes read

Sentences: 29 lines

Sentence Length: 13 words per sentence (average)

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Copyright Owner: © CoinGape

News ID: 23248905

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