- Launch of MACHI and First Day of Trading
- Transaction Mechanism and Liquidity
- Machi Big Brother's History and Projections
MACHI, the new project by Jeffrey Huang (Machi Big Brother), started trading on Baseline markets after raising $5M from early investors. The token sparked significant interest among crypto enthusiasts, especially in the wake of controversies surrounding Friend.tech.
Launch of MACHI and First Day of Trading
The MACHI token began trading on the Baseline markets platform, attracting $5M from early buyers. Immediately after launch, the token's price surged from $0.07 to $0.24, later stabilizing around $0.18 in the first hours of trading. The primary traders were crypto influencers and high-profile NFT holders.
Transaction Mechanism and Liquidity
Baseline DEX introduced a new transaction type called looping, allowing traders to hold leveraged positions without the risk of liquidation due to the baseline price of MACHI. This created the potential for rapid liquidity depletion of the token. By the time of writing, MACHI had accrued $9.88M in liquidity and reported trading volumes of 4.23M in the first hours. The token was paired with USDB, the native stablecoin of the Blast chain.
Machi Big Brother's History and Projections
Machi Big Brother, known for his investment funds, had previously supported projects like ApeCoin (APE) and Blur (BLUR), even when they were bringing in losses. His involvement raised questions about the reliability of MACHI, suggesting that the asset could be a way to compensate for previous losses. Despite the speculations, MACHI draws interest from the crypto community due to its unique mechanisms and initial success.
The launch of MACHI attracted the attention of the crypto community, given its ties to Machi Big Brother and its initial trading success. However, caution remains due to the controversial history of projects associated with Machi Big Brother. Time will tell if MACHI can maintain its position and meet investor expectations.
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