🚨 *URGENT SCAM ALERT: Treasurentf is a Ponzi Scheme!* 🚨
⚠️ *Warning:* Treasurentf, a fake NFT platform, is luring investors with false promises and trapping them with a Ponzi scheme! ❌
How the Scam Works: ❌ *Lures investors with high returns & fake NFT sales*: Treasurentf promises unusually high returns and fake NFT sales to attract investors. ❌ *Operates like a Ponzi scheme*: Treasurentf uses new deposits to pay old users, creating a false sense of security. ❌ *Will eventually collapse*: The scam will eventually collapse, leaving investors with huge losses.
Protect Yourself: 🚨 *DO NOT Deposit!* 🚨 *DO NOT Trust!* 💡 *Pro Tip:* Always verify platforms before investing. If it sounds too good to be true, it probably is!
Take Action: ✔️ *Withdraw your funds immediately* if you're involved. ✔️ *Share this warning* with others to save them from getting scammed.
Stay Safe: 🔁 *Stay informed* about crypto scams and Ponzi schemes. 🔁 *Verify platforms* before investing. 🔁 *Be cautious* of unusually high returns and fake promises.
There’s a common misconception that I’m going to clear up for you today.
When a new coin launches, and you see a percentage increase based on the low of the first candle and the current price, like $VANA being up 2400%, many people believe that some individuals bought it at $1 and others at $25.70.
Here’s the truth: When Binance adds a new coin, they must provide three prices before trading begins:
1. Opening price
2. High of the day
3. Low of the day
For example, #VANA had a low of $1, a high of $25.70 on the first candle, and an opening price around $21.79. The low price is typically based on the coin's ICO or launchpad price, while the high is either random or based on CoinMarketCap if the coin is already trading on other exchanges. Sometimes, both the low and high are arbitrary numbers, depending on the market cap at the time of launch.
The percentage you see is simply the difference between the ICO/launchpad price and the current market price. It reflects the returns made by ICO or seed investors.
As I mentioned, Binance has to set those three prices before trading starts, so there’s no way anyone bought it at $1 or $25.70 when trading began. Everyone buys at the price where trading starts.
Don’t be impressed by these numbers. Understand how things actually work—it’s important.