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ChainDD Warning | Baer Chain: the Rate of Return was as High as 5,000%, but Now the Price is Cut Down Continuously

Abstract : The price of Baer Chain has plummeted continuously in the past week, with an average daily decline of more than 15%. It has fallen from the highest of 127.14 yuan to 43.21 yuan, with a cumulative decline of more than 60%.

ChainDD
ChainDD

Jul 23

According to market monitoring by ChainDD, the current AOFEX exchange BRC (Baer Chain) / AQ (AOFEX platform currency) transactions have experienced a continuous plunge in the past week, with an average daily decline of more than 15%. According to the AOFEX.com exchange market, the price of Baer Chain has dropped from the highest of 127.14 yuan to 43.21 yuan, a cumulative decline of more than 60%.

This price is approaching the opening price of 40 yuan / BRC when landing on AOFEX.com on May 26.

A month ago, ChainDD exclusively reported Baer Chain's "funds" model. It is pointed out that Baer Chain has made a lot of money from the market through two games called "Super Rich" and "Global City". In the secondary market, it controls the trading price through the control of the trading plate to avoid the risk of dump.

At the moment, the main battlefield of Baer Chain has been transferred from ZB.com to AOFEX, and a new game named "BRC Planet" has been launched. Wang Chong, a player of the "Global City" game, said, "Baer Chain will complete the main network test at the end of September. I thought it was a good thing. Now I have more than 300 BRCs in my hand. I don't know whether I will sell them or not." Obviously, the dump came too suddenly this time.

Baer Chain "lefts" ZB.com

Before mid-May, ZB.com was the main battlefield of Baer Chain. Unlike other tokens, Baer Chain has a huge price difference on ZB and other exchanges.

There have been 16 exchanges available in Baer Chain so far. As of 16:00 on July 21, BRC/QC (ZB.com's platform currency) was quoted at 27.28 yuan, but the BRC prices of other platforms were around 50 yuan.

Baer Chain experienced a wave of pull-ups, a fine-tuning and a double top (M-top form) on ZB.com, during which time it rose to a maximum of 58.28 yuan. During this period, the scale of users has continued to expand and the volume of transactions has continued to increase. Until one day, users cannot withdraw the BRC at ZB.com.

At that time, the market voiced that ZB.com used the user's BRC to make money for itself, and then shifted the cost to the user's head by shorting. In response to this problem, we tried to contact a number of Baer Chain staff, and received "do not understand" or no response.

Wang Chong said to ChainDD that ZB.com restricts users from transferring BRC to wallet, but there is no limit to change into money. Users can choose to sell or withdraw through over-the-counter transactions.

At this time, Baer Chain has already landed on many exchanges such as BiKi and AOFEX. Since users cannot withdraw cash through the wallet, it directly increases the transfer cost of the BRC.

When Baer Chain broke through 100 yuan on other exchanges, ZB.com only had about 30 yuan, so the price of Baer Chain was once suspected to be "highly manipulative." For investors who entered the high position at ZB.com, the price was low and the trading partners were few, and they became the last one to pick it up.

The latter part of Baer Chain

Among all the exchanges on the Baer Chain, AOFEX has the largest transaction volume. According to the announcement of the exchange, AOFEX officially launched Baer Chain (BRC) on May 26 and opened the BRC/USDT and BRC/AQ transaction pairs.

Upon inquiry by ChainDD, AOFEX is a British cryptocurrency exchange that went online at the beginning of this year and released the Asian version of the website and App on May 26, announcing official entry into the Asian market. In other words, Baer Chain was accepted on the first day of entering the Asian market.

As a start-up exchange, AOFEX has only launched 20 currencies and 43 trading pairs. Its Twitter account is currently in a state of illegal freezing, and the official Chinese telegraph group has only 4,000. Compared to ZB.com, the top ten exchange in global rankings, AOFEX is too small and the security risks are worrying.

Baer Chain is still harvesting users rapidly through the game and said it would continue to expand the game ecosystem. According to Baer Chain wallet data, as of July 21, the figure for Baer Chain wallet users has exceeded 500,000. Since the wallet is just a necessary part of Baer Chain games or transactions, it is estimated that the current Baer Chain users are roughly the same.

Last year, Baer Chain’s crowdfunding price in ETF was 0.15 yuan, and the current return on investment is 5,074.24%. At the moment, Baer Chain is making a major correction, and the trend of the currency price will determine the next move of Baer Chain. In the interview, Wang Chong constantly said to ChainDD: "I personally do not believe in Baer Chain."

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