In recent days the new cryptocurrency Squid, clearly linked to the TV series Squid Game, a South Korean product that has become viral all over the world thanks to its diffusion through Netflix. The new token is experiencing tremendous growth even if the risk of a scam, especially for less experienced users of the cryptocurrency sector, is always around the corner.
Great success for Squid Game cryptocurrency
Squid continues to experience strong growth. The latest data, in fact, confirmor an increase in its value of over 1,200%, a sign that investors (more or less experienced) are attracted by the new project inspired by the series that has become very popular on Netflix. The cryptocurrency has been included among the Biggest Gainers, or the fastest growing tokens, by CoinMarketCap.
The cryptocurrency is also expected to be used for participate in an online game, inspired by Squid Game. This game will have a prize up for grabs for the winners whose value will be linked to the number of participants who will pay their registration with Squid.
Scam risk?
As Cornell University economist Eswar Prasad pointed out in a BBC interview, Squid adds to the tokens that ride momentary media phenomena. This system allows you to attract investors and inflate the value of the cryptocurrency. The risk is that of substantial losses for less experienced investors. In addition, reports are multiplying on the web regarding the impossibility of converting Squid into flat currencies such as the dollar or the euro.