Crypto Exchanges Pledge Support After $10M SLERF Presale Funds Burned

Key Takeaways

  • Crypto exchanges support SLERF with donations after $10M burn incident.
  • Slerf trades at $1.02 per token and has recorded up to 50% gains in the past 24 hours
  • SLERF trading volume reaches $1.7 billion amid community frenzy.

Cryptocurrency exchanges pledge support for the SLERF meme coin community after the $10 million presale is accidentally burnt. 

Several cryptocurrency exchanges, including HTX (formerly Huobi), Bitget, and BingX, have pledged plans to support the SLERF meme coin community by donating trading fees. These decisions come after the asset’s anonymous developer accidentally burned $10 million of presale funds.

Slerf is one of the newest tokens to emerge from the Solana meme coin presale narrative and has chalked up several listings on exchanges.

The meme coin raised $10 million in presale on March 18 but faced a significant fumble after the anonymous developer behind the project mistakenly sent presale funds to a burn address.


Crypto Exchanges Donate to Slerf Users

In a March 19 X announcement, HTX advisor Justin Sun revealed that the exchange would donate trading fees to traders who participated in the non-public sale of Slerf on HTX.

Following Sun’s announcement, Gracy Chen, the managing director of Bitget, also pledged to donate trading fees to support the SLERF community.

Like HTX and Bitget, the Singapore-based platform, BingX also declared trading fee donations to users on the exchange and announced an exciting future airdrop.

BingX stated that the airdrop would entail its future debut tokens to address those who participated in the Slerf private sale but didn’t receive Slerf tokens.

Amid the setback in Slerf communities, the LBank exchange declared a commitment to raise funds to support presale participants.

In a similar X announcement, the trading platform provided a wallet for global crypto traders and investors to deposit asset funds.

Additionally, the MEXC platform, among the early listers of the Solana memecoin, offered participants a $2,000 USDT giveaway.

Nonetheless, there are concerns about whether these donations complement the losses recorded by private presale participants.

Crypto Twitter Outrage

Following Slerf’s anonymous developer’s accidental burn of $10 million worth of presale assets, the industry has been criticized, ranging from deceptive marketing gimmicks to a lack of integrity.

Crypto enthusiasts iterated that the Slerf community shouldn’t have been trusted, while some believed it wasn’t an intentional scam.

Despite its messy launch, Slerf trades at $1.02 per token and has recorded up to 50% gains in the past 24 hours.

CoinMarketCap Data on Slerf Memecoin Market
SLERF price | Source: CoinMarketCap

The meme coin’s 24-hour trading volume is staggering at $1.7 billion, showcasing the hot-red trading activities of traders and investors.

While Slerf has no identified sustainable value, the crypto community is ready to capitalize on the frenzy of the meme coin market.