The biggest and most established global hub for everything crypto, blockchain and Web3.Presales have gained popularity in the crypto market, with many projects raising millions of dollars based on simple X posts even in the absence of a working product.
The frenzy left some market observers warning of the high risks involved in participating in such presales. Presales are events where tokens are nominally sold before the official launch. They are typically conducted by sending funds to a crypto address and receiving, at a later date, a predetermined number of tokens.
The hype over presales soared after the success of Book of Meme . Its creator offered a presale last week, and early investors turned a few hundred dollars into hundreds of thousands of dollars in paper gains in a few days.
Source: News Formal (newsformal.com)
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