Squid game crypto skyrockets in first trading days

Gamers created an online version of a program, for which players need Squid cryptocurrency to play. On Tuesday, it was worth 1 cent, but by Friday it exploded in value, hitting $4.39.

But Squid has been slammed for not allowing investors to resell their tokens. Squid is what is known as a “play to earn” cryptocurrency, where people buy tokens to play in online games where they can earn more tokens.

In the case of Squid, many buyers will be gamers looking to play the online game of the program, which begins in November.

The more people join, the larger reward pool will be, according to the issue document, which says developers will take 10% of the entry fee with the remaining 90% given to the winner.