WETH/SPHINCS Pool on Base Drops From $52K Peak
The WETH/SPHINCS trading pair on the Base blockchain experienced a severe contraction in available capital. What began with over $52,000 in liquidity now stands at just $3 following an event detected last week.
A specific trading venue for Wrapped Ether and the SPHINCS token on the Base network has effectively ceased normal operations. The pool currently holds a negligible amount of capital compared to its recent history.
The Event Details
On-chain monitoring identified this shift starting at 14:25:53 UTC on June 13, 2026. At that moment, the contract located at address 0x41b620ab6f02a466b249c39b0eeade1836c6a567 held a substantial reserve of funds for traders.
Liquidity Status
The most striking change is the magnitude of the drop. The pool peaked at $52,858 in total value before suffering a complete drawdown relative to that high point. Today, only three dollars remain available within the contract. This reduction represents a 100% decline from the previous maximum.
Implications for Traders
- The pool health score has fallen significantly to 16 out of 100.
- Liquidity is now insufficient to support meaningful price discovery or large trades.
While the deployer wallet associated with this contract shows no immediate red flags in standard risk checks, the sudden loss of capital indicates a drain event. For investors holding SPHINCS tokens within this specific pair, exiting positions likely became impossible once reserves were depleted entirely except for that final fraction of value.
Current Outlook
The status is now classified as dead because there are no funds left to facilitate swaps between the two assets. Users attempting to interact with contract 0x41b620ab6f02a466b249c39b0eeade1836c6a567 will find that their intended transactions cannot be executed due to the lack of underlying assets. This situation highlights how quickly a Base network pool can transition from active trading to total inactivity when liquidity vanishes.