Second warning for those who intend to go Short, keep Short positions, or are considering entering Long on this manipulated #WCT:
At 3 AM this morning, the Fuding fee began to adjust to negative. Currently, it is -0.046% even though the price has increased by 34% compared to 24 hours ago?. At this time, anyone holding a short position faces the risk of liquidation (if the margin is not thick, and the leverage is high), and with high volume, the Fuding fee will erode profits. So, is a Long reversal feasible?. No!. We cannot predict when they will sell off, at what price, or to what extent!.
When Dev, MM, and the Exchange all take profits, the Fuding fee is -2%/hour like the previous Layer. Holding a short position is risky, and jumping into a short position is also risky.
Run away as soon as possible!
I am trying to write this post because I lost $60 from it. My account burned due to BNX and Layer. So I don't want anyone to end up like me. Please be cautious!