Recently, a cryptocurrency called Bone Marrow Transplant (BMT) suddenly emerged. It looks quite impressive at first glance, but upon closer inspection, it turns out to be quite deep.
This thing is currently priced around $0.11, having dropped nearly 19% in a day, with a market cap of only $29 million, mixing in the Solana ecosystem. The funniest part is that its fully diluted valuation surprisingly reaches $114 million, with only 25% of the supply circulating. Isn't this clearly indicating a crazy unlock and dump in the future?
Its historical high was $0.30, and it has now dropped 65%, a typical project for cutting leeks.
The project claims to be involved in bone marrow transplants, but the white paper and official website are the same link, with not even a proper document available, and the GitHub is empty. Isn't this clearly a scam? Moreover, it only went online on March 12, and in less than a month, it's dropped to this bear-like state. It has been listed on 21 exchanges, which looks quite lively, but it's actually just convenient for the manipulators to offload their tokens.
The trading volume is quite large, over $60 million a day, but look at that 24-hour turnover rate of 230%. Isn't this a typical scheme of shifting tokens back and forth for profit?
To put it simply, this is just an air token riding on Solana's popularity, trying to harvest during the bull market. You see its fully diluted valuation is nearly 4 times the current market cap, and once the tokens are unlocked later, the price will surely plummet.
This type of project is a typical "three no products": no technology, no application, no team, relying solely on a name to deceive people. With the market environment being so poor, these small cryptocurrencies are the easiest to become the graveyard for bag holders. If you really want to play, you have to get in and out quickly, and never think about holding long-term, otherwise, when the unlock period arrives, a 90% drop won't be surprising at all.
