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PreviousĀ bull marketsĀ in crypto showed how fortunes can be made and lost in the blink of an eye.Ā
As we witness recent declines in both speculative and less-speculative tokens, itās essential for investors to tread carefully.
In this article, weāll explore three ultra-riskyĀ cryptocurrenciesĀ that should raise red flags for potential investors in the month of October.Ā
WEMIX (WEMIX)
WEMIX, the native token of the WEMIX mega-ecosystem, has been on a rollercoaster ride over the past year or so.
While this cryptocurrency saw some significant gains in recent weeks, we believe the risks outweigh the benefits. This is primarily because of the massive volatility of the WEMIX digital utility token.Ā
Notably, WEMIXās 30-day volatility sits at 27.67%, which is described byĀ CoinCodexĀ as āextremely high.ā
In addition, the cryptocurrencyās price remains down more than 45% in the past year and was outperformed by 75% of the top crypto assets during that period. The token is also substantially down from its all-time high (-96%) and displays a substantial yearly inflation rate of more than 158%.Ā Ā
At press time on October 6, WEMIX was trading at $1.01, up 0.26% on the day, 5.6% across the week, and over 72% on the month. Worldcoin (WLD)Ā
TheĀ Worldcoin projectĀ made headlines earlier this year as the first-everĀ artificial intelligenceĀ (AI) crypto project that determines āpersonhoodā by scanning usersā eyeballs, helping to prove that someone is a person and not a robot.Ā
Those who accepted to get their eyes scanned during the beta phase got free WLD tokens. At first, the digital asset attracted some interest among crypto enthusiasts, especially after getting listed on major exchanges likeĀ Binance, Huobi, and OKX, among others.Ā
However, many are still skeptical about the entire project, mainly due to Worldcoinās approach to biometrics, its unavailability in the US, and the lack of details about WLDās token distribution.Ā
Activity Period: 2023-10-12 11:00 (UTC) to 2023-10-19 23:59 (UTC)Ā
All KYC-verified Binance users who log into their Binance accounts and complete the following tasks during the Activity Period will qualify for an equal share of the 10,000 USDT rewards pool. Please note that the reward per qualified participant is capped at 10 USDT in token voucher.Ā Ā
Tasks:Ā
Set up your Binance Square profile (i.e., your nickname, avatar and bio).
Create one post or article on Binance Square.Ā
Like and comment on five different posts or articles on Binance Square.Ā
Gain three new Binance Square followers.Ā
Follow ten accounts on Binance Square.Ā
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