Announcing the end of an era for an old DeFi project, the era of $INJ has come to an end!! Just today at noon, the project party announced the start of the buyback plan.
It can be said that the buyback plan is ultimately beneficial for all tokens, a plan that the project party had no choice but to implement. From raising institutional financing, locking up tokens, to listing on various exchanges to increase liquidity, this series of benefits is all risk-free and high-reward; the listing fee is at most paying tokens to the exchange, and the cost of issuing tokens is essentially zero. Of course, if you count the electricity costs, I have nothing to say. And let's not even talk about labor costs; what project does not require manpower?
The buyback plan is a genuine expenditure to repurchase tokens, which can be said to be the least favorable option for the project's interests.
So I choose to short. Logically, shouldn't good news lead to going long?
Let me briefly explain my reasons:
Firstly, this token has a market value of 700 million and is fully circulating. The project party has experienced two rounds of peaks, and they have certainly sold what they needed to sell. (After all, the project party won't stick around to become family.) Therefore, the chips in hand will definitely not be many; how much money would it take to rely on buybacks to push it up?
Secondly, where does this money come from? According to data, the current daily dex trading volume is only 1.16 million dollars, and the contract trading volume is 41.15 million per day. If you expect to rely on it for a daily income of 2,500 dollars for your buyback, how long will it take to reach your expectations?
