Crypto_Alchemy
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According to the news coming from various major groups, a $600 million new issuance feast has seemingly turned into a setup for strangling arbitrage.
The specific situation is that exchanges like by, bg, and kb, which have a high share in the second and third tiers, have all presented users with a dilemma: the API interface encountered issues, and it took 12 minutes to fill the chain, while these exchanges were unable to call the interface to seize the total pool quota, resulting in user funds being deducted and frozen for processing without showing success or failure. In the end, these exchanges only shared the $100 million quota left by the project party to the CEX. Many exchange users thought they had successfully participated after making their contributions and rushed to hedge their positions, locking in 30%-50% profits in advance, not realizing that the exchanges had issues and there were not enough quotas to distribute to users. Those who hedged their positions set up short orders but had no tokens? They could only forcibly close their short positions. Currently, most funds that were not processed within two to three seconds have been returned. The kb announcement only confirmed a successful subscription of $16 million, and it is estimated that other exchanges are not much different.
This pump has increased the hype with high shares and high market value. Binance's pre-market contract liquidity is very good, pulling out dozens of points of premium, attracting a lot of large funds to arbitrage the new issuance. However, after hedging, there were no tokens, resulting in a complete massacre. What was clearly arbitrage capital has turned into pre-market naked short capital, and those who have not yet recognized their losses and closed their naked shorts are now lambs waiting to be slaughtered in the market. The project party can easily create a short squeeze, either through funding rates or rapid price increases, seemingly turning into a setup for strangling arbitrage. $PUMP
#MemecoinSentiment #StrategyBTCPurchase #memecoin🚀🚀🚀
The specific situation is that exchanges like by, bg, and kb, which have a high share in the second and third tiers, have all presented users with a dilemma: the API interface encountered issues, and it took 12 minutes to fill the chain, while these exchanges were unable to call the interface to seize the total pool quota, resulting in user funds being deducted and frozen for processing without showing success or failure. In the end, these exchanges only shared the $100 million quota left by the project party to the CEX. Many exchange users thought they had successfully participated after making their contributions and rushed to hedge their positions, locking in 30%-50% profits in advance, not realizing that the exchanges had issues and there were not enough quotas to distribute to users. Those who hedged their positions set up short orders but had no tokens? They could only forcibly close their short positions. Currently, most funds that were not processed within two to three seconds have been returned. The kb announcement only confirmed a successful subscription of $16 million, and it is estimated that other exchanges are not much different.
This pump has increased the hype with high shares and high market value. Binance's pre-market contract liquidity is very good, pulling out dozens of points of premium, attracting a lot of large funds to arbitrage the new issuance. However, after hedging, there were no tokens, resulting in a complete massacre. What was clearly arbitrage capital has turned into pre-market naked short capital, and those who have not yet recognized their losses and closed their naked shorts are now lambs waiting to be slaughtered in the market. The project party can easily create a short squeeze, either through funding rates or rapid price increases, seemingly turning into a setup for strangling arbitrage. $PUMP
#MemecoinSentiment #StrategyBTCPurchase #memecoin🚀🚀🚀
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