Have you noticed? $IOST surged straight up by 107% last night—this magnitude is a bit outrageous.
Trading volume was $49 million, and the volume is definitely not small. But when I looked at the order book depth, with this kind of small-cap coin, you can fly the price just by dropping a couple of big orders. I didn’t see any substantial positive news on the news front. It’s probably the old routine of a “shitcoin” market again—first pump the price to draw attention, then once the retail traders chase in, start distributing (selling off). I won’t chase this kind of thing; even setting a stop-loss can’t really be done.
On the other side, $NFP fell 65%, VANRY dropped 37%—all small-cap coin linkages collapsing together.
The funding rate is only 0.0034, and BTC is still holding above 78,000, which suggests the overall market isn’t the problem. These coins look more like the project team dumping (or a liquidity crisis) rather than having much to do with panic stampedes.
My take: Don’t touch something like $IOST —it's a trap, not an opportunity. For those that crashed hard, if you’re holding positions, consider setting a stop-loss. If you’re not in yet, don’t rush to bottom-fish—under the floor of these small coins, there’s still another bottom.
Have any of you fallen into these traps?
#Write2Earn #Crypto
⚠️ Personal opinion only; not investment advice.
Trading volume was $49 million, and the volume is definitely not small. But when I looked at the order book depth, with this kind of small-cap coin, you can fly the price just by dropping a couple of big orders. I didn’t see any substantial positive news on the news front. It’s probably the old routine of a “shitcoin” market again—first pump the price to draw attention, then once the retail traders chase in, start distributing (selling off). I won’t chase this kind of thing; even setting a stop-loss can’t really be done.
On the other side, $NFP fell 65%, VANRY dropped 37%—all small-cap coin linkages collapsing together.
The funding rate is only 0.0034, and BTC is still holding above 78,000, which suggests the overall market isn’t the problem. These coins look more like the project team dumping (or a liquidity crisis) rather than having much to do with panic stampedes.
My take: Don’t touch something like $IOST —it's a trap, not an opportunity. For those that crashed hard, if you’re holding positions, consider setting a stop-loss. If you’re not in yet, don’t rush to bottom-fish—under the floor of these small coins, there’s still another bottom.
Have any of you fallen into these traps?
#Write2Earn #Crypto
⚠️ Personal opinion only; not investment advice.