The mystery behind the crash of G's PERP
Brothers, today's 17% cliff dive in PERP hides three scythes behind it, each one deadly!
The exchange's series of cuts
Coinbase's international exchange suddenly announced the suspension of MOVE-PERP trading last night, spreading panic in the market. Even more absurd, Binance just delisted the PERP/BTC trading pair three months ago, halving the liquidity. The manipulators took the opportunity to dump and cash out. On-chain data shows that a certain institutional address transferred 3 million PERP to the exchange this morning, clearly planning to run.
The Federal Reserve's surprise move
This morning, a Federal Reserve official stated that 'a pause in interest rate cuts may happen in June', directly using altcoins as cannon fodder. Bitcoin fell 3%, and smaller coins like PERP faced successive liquidations due to leveraged players, with the top ten liquidations on exchanges all being long PERP positions, the severity comparable to a fraud scene in Northern Myanmar.
The ecological decay is confirmed
PERP focuses on perpetual contract agreements, but look at the recent on-chain data - daily trading volume for the protocol has plummeted by 42%, and transaction fee income can't even cover team salaries. Even worse, the project team has been hyping up 'cross-chain upgrades' for half a year, and they haven't even launched a testnet; the community is now filled with complaints.
Future market scenario analysis
- Short term (within 3 days): $0.32 is the lifeline; if it drops below, watch for $0.28 as the next low. But according to the manipulators' playbook, there might be a 5% pump tonight to trick retail investors, remember that any bounce is just an opportunity to escape.
- Medium term (1 month): It all hinges on whether the ecological conference in early June can come up with something significant; if they just reiterate 'institutional collaboration' like before, the door to zero is wide open.
- Long term: It's recommended to remove from your watchlist! The derivatives space is now dominated by tough competitors like GMX and DYDX, while PERP can't even get a taste.
Lifesaving Guide
Don't believe in the 'oversold rebound' nonsense; when KOLs shout to buy the dip, check if their wallets are secretly unloading.
If you really want to take a risk, play with a 5% position, set a stop loss at 3%, and cash out after making enough for a hotpot meal.
Keep an eye on Bitcoin's 620-day moving average (current price $98,000); if Bitcoin falls below $95,000, all altcoins will go down with it.
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