2 hours ago, $ZKJ crashed! The contract dropped to a low of 0.253, spot price 0.376, current contract 0.382, spot price 0.78, a price difference of double! This is actually just like what was said on Bird Number: it's a trap set intentionally:
Why do two coins have such low wear when interacting? This is actually a disguised way to attract you to be a liquidity provider. In spot trading pairs, apart from S points, no one is really willing to take over, so it relies on deception. First, they use low wear to post in the plaza to attract you, and when more people come in, the pool slowly grows. Additionally, the threshold for short-selling points is too high, leading to a large number of users giving up in recent days. Therefore, these big players hope to earn small profits from wear, while others are eyeing your principal, preemptively laying out contract short positions, causing a chain crash and withdrawing from the pool, total collapse!!!
But from another perspective, this can be considered malicious short-selling. Normally, if a retail trader unrelated to the platform operates this way, the platform would ban their account and prohibit withdrawals. There have been many such cases before, and most accounts were not banned. You can search on a certain bird site!
Is it over after the collapse? No, just now, the quick-witted opened a long position at the bottom, hahaha, making another batch of people laugh! Generally speaking, in such situations, the contract and spot prices will eventually converge; however, since ZKJ is a small clone with not many bot bricks, most transactions are on-chain and not so sensitive!
So the question arises: are you saving to short the spot or going long on the contract?
