Pump will be listed on the exchange soon, Binance has not yet confirmed whether to list it on spot trading, and currently, all the initial listings are on smaller exchanges. These smaller exchanges do not have enough liquidity to absorb the 400 million dollars in selling pressure. A large number of people engaged in hedging are selling on the spot market, and if they buy back contracts to cover their short positions, it is estimated that this will create a price difference between futures and spot, which means a positive interest rate. Those holding short positions will benefit from both sides? Wintermute's notorious strategy is to pump up the price and then continuously sell until you are desperate. It seems that the cost of subsidizing short positions also meets their needs. How the battle goes tonight depends on the performances of various forces next.
