The cryptocurrency market has been plagued by pump and dump schemes, where scammers manipulate the price of a coin or token to make quick profits. One such scheme is NASDACOIN, which has gained attention recently due to its rapid increase in value.

What is NASDACOIN?

NASDACOIN is a cryptocurrency that was first listed on CoinMarketCap in August 2018. It is not well-known, and until recently, it did not exist on most major exchanges. However, over the past few weeks, the coin has seen an impressive surge in value, with its price increasing from USD 0.08 to USD 4.88 in just a few days.

The Pump

The pump in NASDACOIN's price was orchestrated by its developers and promoters on Facebook. The developers of the coin are allegedly Brazilian John BAPTIST, who has a history of running MLM schemes. According to Bitcoin Exchange Guide, he is associated with the BitConnect crypto-scam.

Behind NASDACOIN is apparently nothing – neither vision nor infrastructure. Demand for the coin was generated primarily through social media platforms like Facebook, where operators of MLM systems promote the coin and manipulate its price.

The Dump

As with all pump and dump schemes, the increase in value is not sustainable, and a correction will eventually occur. The dump in NASDACOIN's price is already happening, with the coin's value falling back down to USD 2.7 as of November 19th.

Securities Fraud

NASDACOIN is just one example of a penny token that qualifies as a security. As such, its manipulation is criminally relevant and could result in legal action against those involved in the scheme.

Market Shakeout

The recovery on the crypto markets will not take place until all excesses of irrational crypto-hypes are over and all crypto-MLM schemes have collapsed. Crypto-MLM scams will disappear, and the associated losses for investors must be digested psychologically and financially in the market. This will continue for many months to come.

Investors should be cautious when it comes to NASDACOIN and other penny tokens that are being promoted through social media platforms like Facebook. These schemes are often illegal and can result in significant financial losses for those who get involved. It is essential to do your own research and due diligence before investing in any cryptocurrency or token.

Recommendation

We recommend all investors not to get involved in these speculations with penny tokens. This offers a worse chance of winning than roulette at the casino. Instead, focus on established cryptocurrencies that have a strong track record and are backed by solid infrastructure and vision.