A simple explanation of what happened with #Hype . Here are the reasons why two major exchanges launched contracts.
· Two accounts, one going long and the other short
· Spot market continues to push prices up, liquidating short positions
· Huge short positions were taken over by Hype
· All longs became opponents of Hype
· After that, the market was pushed up continuously, allowing longs to profit, while Hype suffered huge losses
· Ultimately, they closed the long positions for profit and just sold off the spot
It can be understood that everyone is hunting together at the casino, retail investors want the project to fail. This is somewhat similar to the movie '12 O'Clock', if you don't understand, you can watch it yourself.
Then they just changed the rules, and in the future, decentralization will no longer be decentralized. Hahaha
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