WETH/PALM Liquidity Drops From $56k Peak To Near Zero On Base
The WETH/PALM trading pair on the Base network experienced a severe contraction in available funds. What began as a functional market with over fifty thousand dollars in capital has effectively ceased operation, leaving only three dollars behind.
A specific liquidity pool for the WETH/PALM token pair on Base reached its highest recorded value of $56,802 before suffering a total loss. By early morning UTC time June 23rd in 2026, the available capital had drained to just three dollars. This event marks the transition from an active market to one that is functionally dead for standard trading purposes.
The Event Details
Monitoring systems detected this shift at exactly 11:02 UTC on June 23rd, 2026. The pool associated with contract address 0xbdfb7b6ee22ff541b52ab2daf5e5bcb6f3d70d1b, deployed by wallet 0xb872bcc8a4a3c7652f5f47bf27b91ca2ceea411f, saw its health score plummet to 20 out of 100. This metric indicates a state where the pool is no longer viable for normal operations.
Understanding The Drawdown
The drop from $56,802 to $3 represents a drawdown that effectively removes all usable liquidity. In practical terms, this means any user attempting to swap tokens into or out of the pool would receive negligible value for their input. A 100% reduction in health implies the entire capital base was removed instantly rather than slowly declining over time.
What To Watch
- The deployer wallet remains active but has not restored funds to this specific contract.
- No new liquidity events have been detected for this pair since the initial drain.