Lorenzo Protocol Mints 52.5 Billion Tokens in One Hour; BANK Slides 19%
Bloomingbit Newsroom
Summary
- Lorenzo Protocol (BANK) minted an additional 52.5 billion tokens over about an hour, raising concerns over a surge in supply.
- On-chain analyst ElonKely wrote that a total of 52.5 billion Lorenzo Protocol tokens were minted over roughly one hour.
- As of 5:24 p.m. on June 5, Lorenzo Protocol was trading on CoinMarketCap at $0.02667, down 19%% from a day earlier.
Forecast Trend Report by Period
Concerns over a sudden surge in supply emerged after Lorenzo Protocol (BANK) minted an additional 52.5 billion tokens in about an hour.
Crypto on-chain analyst ElonKely wrote on X, formerly Twitter, on June 5 that a total of 52.5 billion Lorenzo Protocol tokens had been minted over roughly one hour.
As of 5:24 p.m. on June 5, Lorenzo Protocol was trading at $0.02667, down 19% from a day earlier, according to CoinMarketCap.
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