Limitless Token LMTS Crashes 58% Amid Team Sell-Off
Limitless, a nascent prediction market project built on Base blockchain, faced a brutal debut as its LMTS token plummeted over 58% within hours of launch. On-chain data reveals team wallets initiated immediate sell pressure under the guise of "price stabilization," eroding investor confidence during what was meant to be a celebratory TGE following a $10M funding round.
The token briefly stabilized near $0.30 after crashing to $0.20 from its $0.35 opening price, with liquidity fragmented across Aerodrome and Uniswap pools. This volatility underscores the risks of micro-betting platforms, even as Limitless attempts to capitalize on short-term prediction markets.
Despite the airdrop's anticipation, the team's aggressive token movements have cast doubt on their stewardship. The incident serves as a cautionary tale for speculative microcap launches, particularly those relying on concentrated liquidity mechanisms.
