$KNC is a decentralized liquidity center that aggregates liquidity from various sources (AMM, exchanges, reserve parties) and provides it to DApps, traders, and bots.
KNC was launched in September 2017 and is currently the second most used DApp in the DEX category. It is an on-chain liquidity protocol that allows token holders to act as reserves, providing liquidity to the trading network.
From the K-line perspective, KNC has been consolidating at the bottom, and the main reason for this recent increase is due to large players pushing the price up to sell, washing out contracts. Currently, KNC's market cap is only about 100 million, making it easy to achieve a control effect.
There are very few chips from the large players outside; this wave also aims to let retail investors take over. On-chain data shows a significant inflow of funds, and currently, the funding rate has also reached -1%. The project party has also accumulated a lot of chips at the bottom, which can also take advantage of a wave of funding fees and wash out short contracts.
The overhead trapped positions are too heavy; market makers pull up the price to attract retail investors. Basically, it's just a wave of lifting the price and then selling. It's recommended to secure short-term profits and avoid being the chasing retail investors!!
Often, when the market environment is poor, large players create disturbances. The price-pulling methods can be referenced: VIC
