Does today's $MMT look like the one from the end of August, $XPL ?
Both have skyrocketed several times, both have trapped many hedging users, and even many accounts with 1x hedging and multiple margin accounts cannot escape. It's just that one is a wild庄, and the other is a project party.
I didn't expect that in just two months, XPL has already dropped to 0.26. To be honest, if it weren't for the project party directly freezing the accounts of Sun Ge, which led to no large institutions daring to participate, it shouldn't have dropped this low.
I have to say, the project party's unilateral action of freezing large accounts is indeed a foolish move. In a decentralized world, when Sun Ge bought chips from the secondary market, unilaterally preventing him from selling directly reveals your ability to not play by the rules. Which institution would still dare to buy XPL? They are also afraid that their accounts will be frozen when they need to sell and crash the market.
Once a top-tier project that rode the wave of Tether Company, is there anyone brave enough to bottom-fish now?
#plasma @Plasma