Today I saw quite a few people talking about this similar form...

To put it simply, this is the asymmetric trading trap brought about by exchanges not listing new coins on coin-based contracts but only on USDT-based contracts.

Because there are USDT-based hedging short positions, this can be played this way; USDT-based is different from coin-based. Both are 1x short positions, but for USDT-based hedging positions, you only need to pump the price by 100% to capture this part of liquidity!

On the other hand, for coin-based hedging short positions (1x), no matter how you pump the price, as long as retail investors do not close their positions, you cannot harvest this part of liquidity.

In the end, we saw that today, whenever a new coin is launched, there are only USDT-based contracts and very few coin-based contracts in the futures market...

So, if you often play new projects, participating in airdrops or new listings, it is still advisable either not to touch their contracts or to prepare sufficient USDT, at least opening double or even triple margin to achieve hedging.

Otherwise, you, who originally wanted to hold the coins for value preservation, will end up handing over your holdings at the highest price in the USDT futures market to these speculative funds and market makers...

Perhaps the recent market conditions are not good, and these people have become increasingly unscrupulous!