Snake-Themed Crypto Shoots Up Impressive 183868% Ahead Of Lunar New Year, But Here’s Why You Should Be Wary Of This Serpent

Snake-themed cryptocurrencies skyrocketed ahead of the Lunar New Year, ushering in the Year of the Snake.

What happened: In just nine hours after its launch, the BNB Chain (CRYPTO: BNB)-based Year of the Snake token surged by 183868% to a market valuation of $48.19 million, according to CoinMarketCap.

However, the coin’s valuation was inflated considering a markedly low liquidity of just over $1 million.

Similarly, the Solana (CRYPTO: SOL)-based Chinese New Year token lifted 239% in the last 24 hours.

Full story available on Benzinga.com