Onchain sleuth ZachXBT additionally chimed in, saying that the venture is being shilled by “sketchy KOLs.”
Layer 1 blockchain Keeta Community is dealing with uncertainty after analysts slammed the venture shortly after it reached an all-time excessive valuation, driving its token value down by greater than 20%.
Keeta’s KTA token hit an all-time excessive of $1.7 this morning, however fell as a lot as 24% after Michael Ruzic, the founding father of DeFi Capital Markets, referred to as Keeta’s testnet “completely fake,” and onchain sleuth ZachXBT stated the token provide is managed by “sketchy KOLS.”
Ruzic stated, “I am likely the first person ever to go on the Keeta testnet. TLDR it’s completely fake. The explorer is a Vercel vibe-coded page posting fake transaction data. Swaps don’t work…Whitepaper is AI slop. Same for the docs. Not going to even bother trying the SDK.”
ZachXBT replied, “When the biggest shills for a project come from sketchy KOLs vs actual builders for a project, it typically means the tech is underwhelming. Nonetheless, the supply control by them has so far been impressive.”
Keeta seems to be ignoring the claims and can be internet hosting one in all its common X Areas later in the present day to debate a latest partnership and community developments.
Keeta Community is a Layer 1 blockchain centered on small-scale cross-border funds, aiming to compete with conventional monetary infrastructure like SWIFT. Notably, the blockchain is backed by Eric Schmidt, the previous CEO of Google and the 56th richest man on the earth.
After a sluggish begin, Keeta exploded in Might and is up 1000% since Might 1, pushed by elevated consideration because of its rising valuation, the launch of its testnet, and a few minor centralized change (CEX) listings. The token, which launched at a $5 million market capitalization, now boasts a $520 million market capitalization and a completely diluted valuation of $1.35 billion.
