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๐Ÿ”ฅ #AUCTION is Just Another Chart Like #TRB



Apart from the name, there's not much difference.

Let me take you through the playbook ๐Ÿ‘‡
โž™ Whales withdrew huge amounts of #AUCTION from exchanges (๐Ÿฎ๐Ÿฒ% ๐—ผ๐—ณ ๐˜๐—ผ๐˜๐—ฎ๐—น ๐˜€๐˜‚๐—ฝ๐—ฝ๐—น๐˜†)
โž™ Price started to go up due to supply crunch
โž™ Retail looked at the price pump and tried shorting it
โž™ Funding rate flipped negative and prices kept going up, resulting in a massive short squeeze
โž™ Whales made money both from price appreciation by going long and also from a negative funding rate.
โž™ After that, whales started depositing #AUCTION on exchanges (๐Ÿญ๐Ÿด% ๐—ผ๐—ณ ๐˜๐—ผ๐˜๐—ฎ๐—น ๐˜€๐˜‚๐—ฝ๐—ฝ๐—น๐˜†)
โž™ Price dumped ๐Ÿณ๐Ÿฌ% ๐—ถ๐—ป ๐—ท๐˜‚๐˜€๐˜ ๐Ÿฎ ๐—ฑ๐—ฎ๐˜†๐˜€, making a similar Burj Khalifa pattern.

With #AUCTION , whales made money in 4 ways ๐Ÿ‘‡
โ— Going long when prices were going up
โ— Negative funding rate
โ— Price appreciation after they bought
โ— By going short while they were dumping on spot

๐Ÿ‘€ Needless to say, retail lost money on this in every possible way.

cc: WiseAdvise ๐Ÿ“Œ
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AUCTIONAUCTION+0.54%
JSTJST-3.41%
TRBTRB+2.63%
NOTNOT+5.83%


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