$TRB 3k words long article is not enough to describe the story of the King of Monster Coins
From December 31, 2023 to May 7, 2024, from the highest price of 629 to the lowest price of 41.44, after more than 5 months of downward fluctuations, TRB rose to a maximum of 115 in just 6 days with a bottom price of 44.20.
With a spot price increase of nearly 3 times and a strong pull-up, TRB has once again announced its return as a demon coin.
It stands at the top of the list of price increases, looking down at everyone who checks the list, and challenges those who are unwilling to give up: Do you dare to empty me this time?
So its funding rate has successfully turned negative again, but it is not known how long the high funding rate will be maintained this time.
If I say that from last year to now, especially last year, the institution that impressed me the most and made a big splash in the cryptocurrency market was DWF, then the currency that I can't forget the most is TRB.
Last year, including the price of the plug-in, TRB was the most eye-catching 100-fold coin in the market (6.67 to 629), and it was one of the coins that got ahead of the curve in this round of bull market. And its glory seems to continue.
Last year, after the platform modified the upper and lower limits and frequency of funding rates, there was a period of time when the funding rate of TRB in the contract market was the maximum of -3%, charged every 4 hours.
What is the funding rate of TRB? If you are shorting, you have to pay the funding rate six times a day, 3% each time, which means that you have to pay the funding fee of 18% of the total position instead of the margin to the long position every day. In the case of no leverage but full position, your funds will be declared zero after 5 days.
This is the magic of Yaobi. It is also the original intention of writing this article.
As the king of demon coins from last year to now, the story of TRB also reflects the changes in the trading market from another perspective. Most of the tricks of demon coins are reflected in TRB: high circulation and high control, abnormal movements on the chain, skyrocketing, plummeting, plugging, sideways, etc., except for staking and destruction.
It can be said that if the entire trading method of TRB is studied clearly, then the trading methods of most monster coins will be no secret at all.
Now, let us come to the world of TRB and explore this so-called king of demon coins.
1: Control the market.
Before its launch, TRB was just an ordinary and inconspicuous cryptocurrency belonging to the oracle sector, with a market value of less than 30 million and a price that had been below 10 for a long time. Most cryptocurrency traders would not think of trading TRB.
But for the market makers, its two characteristics make them regard it as a treasure, and also lay the foundation for it to become the king of monster coins: nearly full circulation and low market value.
Full circulation means that there is an opportunity to acquire all tokens, and a low market value means that the cost of fully controlling the token is not too high. At the same time, being in a bear market also makes it relatively easy to acquire chips.
Apart from extreme TRB believers, most retail speculative investors would easily surrender their shares and exit the market at a loss after one decline after another.
So after experiencing the last 3-day line decline and closing with a negative in June last year, the market makers who had collected almost all the chips went through two months of shock and cleaning, and finally collected enough chips in August as Bitcoin hit bottom.
The rise of a demon coin is unstoppable.
2. Pull the plate
If you want a currency to get enough attention in the market, then the gain list and the loss list are the best choices, especially the gain list. When a currency is on the gain list and has a contract, the Air Force Suicide Squad will naturally appear like vultures seeing rotten meat.
Most of those who play with digital currencies are brave enough to try new things and are bold. Those who play with contracts are naturally bolder. The dealers will naturally focus on the empty hands and start the journey of pulling up the market.
So on August 27, TRB started its first wave of sharp rise, opening at 11.29, peaking at 15.98, closing at 14.51, up 28.63, with an amplitude of 42.55%. TRB naturally appeared on the list of rising stocks, and also appeared in front of many people for the first time.
From the daily level, from August 27th to September 16th, which is nearly 20 days, shorting TRB was a desperate thing, just like a wild horse that was out of control. Based on the low price of around 10 yuan, TRB rose to nearly 50 in these 20 days.
From 10 to 50, a five-fold increase, even if the 2nd layer position is doubled, it means that the bottom shorts have been liquidated at this moment, not to mention that whoever plays the contract does not increase the leverage. The first wave of the banker's harvest is beginning to show results at this moment.
From the 4-hour level, the 10 to 20 range is the first test of the market by the market makers. For cautious short sellers, considering the situation of the 2nd test, if they open a short at a high point during this period, the loss will not be large. The next step is to wait for a change in the market.
Three: Wash the plate
If 10 to 20 is the dealer's first test of the market, then 20 to 50, 50 to 30, 30 to 70, 70 to 40, and 40 to 80 are the dealer's step-by-step cleansing of the market and the accumulation of wealth.
Every large-scale rise or fall makes the market makers earn a lot of money, because they make both the bulls and the bears full of hope.
Every rise after a fall makes the bulls feel like they have been injected with chicken blood. They firmly believe that the currency will keep rising and can even be traded in waves: sell it when it doubles, and then buy it back when it falls by about 40%. Isn’t that wonderful?
The decline after each rise made the Air Force think that the rules of this currency were well controlled. If they did a good job of the trend, they could also follow the dealer and make a lot of money. The dealer eats the meat and I drink the soup. What a great currency, the Air Force thought.
There are even more savvy players who do both long and short, double the happiness. What kind of magical currency is TRB, they think.
If there is no external support, the market will go from 80 to 125, and then fall from 124 to more than 7 yuan before, which is the life of an ordinary monster coin. The story will end here.
Four: Assistance
If the story ends here, then TRB can only be called a demon coin, not the king of demon coins. A 10-fold increase happens more than once a year in the cryptocurrency market, and what really made TRB the king of demon coins was an announcement from Binance. So sometimes the real wealth is hidden in official announcements.
This is a very important announcement. The power and aftermath it generated in the contract market were no less than the two atomic bombs dropped on Japan. It declared the official end of the era of mindless short selling and made TRB the true king of demon coins.
The content of the announcement is very simple. The upper and lower limits of the funding rate are changed to plus or minus 3%, and the settlement frequency of the funding rate of some contracts is doubled from 8 hours to 4 hours. This means that when encountering extreme currencies: whether opening a short or long position, as long as the full fee is collected, the position of the position holder can increase or decrease by nearly 20% a day. Even if the price remains unchanged, your position will either double or return to zero in about 5 days.
TRB's market maker has definitely read this announcement carefully and has come to the above conclusion. As long as the market maker raises the price of the currency so that TRB is on the list of price increases for a long time, it will naturally attract a steady stream of short sellers to try to short TRB. Then the market maker can naturally open long positions in the contract market in advance and reap the high funding rates.
Thus, a two-month funding rate carnival began, with TRB's dealer single-handedly fighting against the entire market's air force.
Five: Control
For general currencies, if you want to continue to push up the price, you have to take over the chips of your opponents or those who have made profits in the market. The higher the price goes, the more expensive the chips will be.
But as mentioned before, TRB is a highly controlled currency with a low market value. So for the market makers, the cost of raising TRB is a drop in the bucket compared to the funding rate of the contract market.
So we can see that the price of TRB went from 80 to 120, 120 to 100, 100 to 140, 140 to 80, 80 back to 140, and then a deep correction from 140 back to 140.
In the price fluctuation, the dealer first sells in the spot market to show that he is going to flee, attracting the short sellers to increase their chips, and then waits until the contract position reaches a certain scale, and then pulls up the market, trapping the short sellers and making them in a dilemma. The profits obtained from harvesting again and again are like rain from the sky, and finally flow into the dealer's pocket.
VI: Escape
The high funding rate for nearly two months has made TRB market makers earn a lot of money, and also made some traders who follow the same operation as the market makers happy. But are there such kind market makers? When the long market is also a huge pie, the market makers can't help but be tempted.
So, the last wave of harvest began!
December 31, 2023 was the darkest day for all traders operating TRB. On that day, TRB opened at 262.04 and reached a high of 629.04, with an amplitude of up to 169.89%.
This should have been a carnival moment for the bulls, but it came to an abrupt end after the price reached its highest point, because the price of TRB immediately experienced a flash crash, falling directly from the highest point to 190 in 4 hours, a price difference of nearly three times. Are the bears going to start a carnival? The bears had already been killed or injured in the early stage of the rally.
Only the dealer is laughing all the time, the bulls and bears are just the dealer’s toys!
Seven: Restart
I thought the story of TRB had ended here and its price would eventually fall back below 10 yuan. However, judging from the performance in recent days, it seems that the market maker of TRB is showing signs of making a comeback.
But this time, are you sure you can guess what the dealer is thinking?
8. Summary:
To borrow a line from the movie "All or Nothing": "People have two hearts, one is greedy, and the other is unwilling to give up." Out of greed, they chose to open a short position on TRB, and ended up being deeply trapped. Out of unwillingness, they added short positions, even with high leverage. After opening a short position, they always watched the price fluctuations of TRB. As long as there was a slight drop, they thought that a sharp drop was just around the corner instead of admitting defeat and stopping losses and leaving the market. As a result, they lost most of their principal in the settlement of funding rates again and again, and finally ended up with a blowout in a rise, leaving a mess. Angry, you choose to curse in the square and on social platforms such as Twitter.
However, for the winner, the curses and even curses of the losers are actually another hymn of praise for victory. Looking at the extra funds in the account and the cursing articles one after another in the square, the dealer smiled with satisfaction.
The best way to deal with the evil coins is to stay away from them. However, when the dealer's butcher knife is not actually on your neck, which bulls or bears will feel the pain?
