$SLX laughs. Many people think that the market maker is a certain developer or the person who listed this coin. Actually, I can tell you, neither. Just look at who holds the most positions and you'll know who is manipulating the price. Yes, that's what you see. First, why is the price being pumped? Simple, because you have opened a large number of short orders. He first tests by pulling to 0.2. Because previously from 0.2 it dumped to 0.18, many people will start to think based on the trend that 0.23-0.26 is a good position to short. Then a bunch of people frequently open short orders. The exchange uses the people who buy spot. He only needs to ensure that the more than 114k tokens in his account on-chain are not sold. The liquidity pool is only 1.14 million, which means dumping 114k USD can cause the price to rise by 10%. Since the sell orders are all in the hands of the exchange, he only needs to open many long orders in advance, then burn 114k USD into the on-chain spot, and he can eat up all the short orders that will be liquidated at 10%. Knowing this logic, you understand why it keeps rising, keeps eating, until the long/short ratio returns to normal. A normal ratio is around 54% short and 46% long. When this ratio is reached, it will likely slowly decline. If a large number of short orders on-chain keep stubbornly holding, he only needs to repeat opening many long orders in advance, and continue to burn 100,000-110k dollars into the pool to continue pushing the price up by 10%, which is like unlimited fuel. Because the contracts make him money, he then closes positions and uses the profits to buy spot, continuously pushing up. He controls 15 million tokens in his hands. Unless the shorts are almost wiped out, he will then dump his chips from the chain to kill the long orders. So if you follow the majority's positions, you will definitely lose money.
Xiaoshengsheng
