SQUID token: Squid game cryptocurrency, rise 2,400% in 24 hours

South Korea’s “Squid Game” now has its own cryptocurrency brand, trading up 2,400 percent at $2.22 in 24 hours. Additionally, this new token “SQUID” has a market cap of over $174 million, according to CNBC.

According to CoinMarketCap, as of 9.40am on October 29, it was trading at $2.80, a jump of 1,014.50 percent. Market volume rose 123 percent to $5,513,681 in 24-hours.

The Korean-language Netflix death-game drama has grabbed headlines after becoming the streaming platform’s most-watched show of all time. The crypto’s pre-sale started on October 20 and its report claims that it sold out in just 1 second.

CoinMarketCap has posted a notice for interested users regarding the token, saying it has “received several reports that users are unable to sell this token on Pancakeswap.” He also asked to “be careful” while trading.

While it is currently unclear why users are unable to trade the token, reports suggest that it has anti-dumping technology. Pancaskeswap is a popular crypto exchange.

The token was launched as an “Exclusive Coin” for the Squid Game Project, a crypto play-to-earn tournament that launched in November. Tournament, with no maximum payout or limit on the number of players.

Players will have to pay a pre-set price in SQUID and a custom NFT for certain rounds, which will be for sale on their website. The final game of the tournament is expected to cost 15,000 tokens, or $33,450, plus one NFT, the report said. It added that the entry fee is divided in a 10:90 ratio between the amount of the developers and the pooled winners, respectively.

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