Squid Game Cryptocurrency Explodes, Gains 300 Percent In 24 Hours

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The South Korean survival drama television series Squid Game has built a loyal fan base in a very short time. If you enjoyed the show and want to express your support, you can do so now with cryptocurrency. An online version of the program was created by gamers. And to play it you have to use the Squid cryptocurrency. Well, people wholeheartedly support it. Crypto has skyrocketed in the past 24 hours, up nearly 300 percent.

According to CoinMarketCap, the crypto was trading at $ 13.04 (977) at the time of this writing. On Tuesday it was worth a modest $ 0.01 (Rs. 0.075). By Friday, the new cryptocurrency had reached a value of $ 4 (300 rupees). But the market research agency has also issued a warning that it has received “multiple reports” that users cannot sell this token on Pancakeswap, a popular decentralized exchange. “Please do your own due diligence and be careful when trading!” The pre-sale of the crypto began on October 20th.

The dystopian series tells the story of a group of people in need of money who are forced to play deadly children’s games for money. It’s a survival game with a $ 45.6 billion price at stake. Given the high stakes, the show has become a viral sensation. The online game mimics the six rounds of the Netflix show. But, according to the company, “we don’t seem to have any fatal consequences!” In the game, people buy tokens in order to play and earn more tokens. These tokens can then be exchanged for other cryptocurrencies or fiat money.

Squid’s whitepaper states that the more people join, the larger the reward pool will be. Developers receive 10 percent of the entry fee, with the remaining 90 percent going to the winner.

Interested in cryptocurrency? We discuss everything about crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music, and anywhere you get your podcasts.

Cryptocurrency is an unregulated digital currency, not a legal tender and is subject to market risks. The information provided in this article is not intended as financial advice, trading advice, or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV is not responsible for losses that may arise from an investment based on perceived recommendations, forecasts or other information contained in the article.

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