In a tragic incidence, Eugene Shen, co-founder of the RWA undertaking Plume, reportedly handed away this week. Nevertheless, this announcement prompted a significant PLUME token dump, splitting the neighborhood with acrimonious accusations.
Some skeptics puzzled if Plume was a rip-off or if this demise announcement was some kind of hoax. Others deplored these accusations and token dumps, professing assist for the corporate. Regardless, it has been a weird market response to an unlucky, tragic occasion.
Huge PLUME Token Dumps
Plume, an RWA onboarding blockchain agency, has attracted appreciable consideration since YZi Labs invested in it this March. Over the past week, the corporate’s PLUME asset fell by 18%, and customers started reporting a token dump right now.
The agency introduced the demise of Plume co-founder Eugene Shen, presumably establishing a cause for this worth motion:
Plume’s announcement didn’t specify a date or reason for Shen’s demise, solely that it passed off final week. Nonetheless, this instantly clarified the PLUME token dump for some customers, a lot of whom strongly condemned traders’ conduct.
Though PLUME had already been falling for a number of days, it skilled an extra 7.4% crash and a 145% enhance in buying and selling quantity right now. Presumably, Shen’s demise triggered right now’s worth actions.
Nevertheless, alternate narratives additionally started circulating, even when they remained a minority place. Why did the value drop start days in the past?
It seems that a number of token holders are calling PLUME a rip-off token and the co-founder’s demise a hoax. But, these claims don’t have any proof and present a moderately unsettling show of public empathy.
Even when this was not a preferred place, this jarring cynicism nonetheless shocked the crypto neighborhood. Positive, crypto scams are rampant proper now, however would PLUME actually faux somebody’s demise to dump tokens?
Defenders instantly started noting all Plume’s main traders, claiming that the corporate has a transparent historical past and market presence.
This weird incident solely highlights a moderately hidden ugliness within the crypto neighborhood. Maybe MANTRA’s fall broken investor confidence for your complete RWA market, or possibly customers are simply rising uninterested in scams.
It’s unhealthy sufficient that PLUME customers dumped their tokens after a crew member’s demise, but it surely’s way more regarding that some folks suppose it’s all a rip-off.
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