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There have been a lot of market movements recently. First, the aftereffects of the October plunge are still unfolding. It is rumored that a major market maker was heavily impacted, with initial speculation pointing towards GSR, but GSR later issued a statement denying the rumors, stating that their business operations are normal.
What’s even more heartbreaking is that Legion’s new listing project Almanak completely failed to debut. The project was launched with a valuation of 90 million USD, with an initial offering price of 0.09 USD. But what happened? Since listing, it has fallen below 0.034 USD, a drop that’s more than halved. Such a level of failure to debut indeed caused significant losses for many investors participating in the IPO, and once again reminds everyone — the risk of high-valuation projects failing at debut is always more aggressive than expected.
Theoriq also has new developments, with related updates expected on December 16. In summary, this wave of market activity is a significant test for institutions involved in IPOs and market making.
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GSR's quick denial this time, but who believes it? Anyway, I don't believe it
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0.09 dropped to 0.034, how much money was lost... No wonder some say investing in new tokens is not as good as just buying coins
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The Almanak project has been problematic for a long time; overvaluation and IPO failure are scenes played out every year
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Market makers also can't escape unscathed this time; October's pitfalls haven't been fully climbed out of yet
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I just want to ask, why are there still people willing to chase projects valued at 90 million USD? Don't they learn from experience?
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The Theoriq incident on December 16th is worth paying attention to, but right now, trusting your own risk control is more important than anything else
A half or even a quarter of that wouldn't be enough to describe it haha. It seems like someone is about to clear out their funds again.
GSR's denial only made things more frustrating, since in this circle, rumors without smoke are nonexistent.
Thinking about how many people lost their principal in this wave, and with this trend, there will be a new story to tell next month.
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GSR's false alarm was just a scare, I thought it was going to explode.
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Participating in IPOs now is just gambling; high-valuation projects are all breaking below the offering price. Who dares to touch them?
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Wait, what will Theoriq do on December 16? Are they going to cut the leeks again?
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Everywhere in this market is a trap. Market makers short the market, IPO investors get buried. No one is really making money.
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Is a half-cut not enough to describe it? It must be four-legged and facing up.
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No wonder all the major IPO platforms have been lowering their enthusiasm recently; the risks are really that high.