I was going through a DeFi watchlist I've made on trading view and while these kind of down moves aren't limited to DeFi coins, the steep correction does make you take notice of what's going on in the market for sure.
Greed fuelled rallies and panic sells from retail who always get dumped on by smart money that's taking profits.
Create tokens out thin air because why not. Get them listed on futures exchanges, hold your spot positions to retain governance while you short futures, then when markets turn around and pump back up dump your coins on greedy noobs who fomo into rallies near the top! Works like a charm eh?
Crazy crypto for sure! Mad pumps and mad dumps every few months or so.
Anyway, for a change i'm glad HIVE isn't the only token bleeding all the time. Not sure if this offers any consolation for anyone trapped on their long positions. Probably not!
DUMPS and PUMPS is what makes crypto so fun :)
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The only thing I hope is to make sure I avoid those traps. But, I am not successful most of the times.
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