Hey ladies, have you noticed a pattern?
Every time the market is just sideways and boring, a bunch of altcoins we've never even heard of suddenly skyrocket by dozens of points, and then someone in the group starts yelling "next hundredx coin!"
Today, Biconomy, aka BICO, jumped 63% in 24 hours and doubled over the week. Bella Protocol, BEL, went up by 47%. Then there's Synapse, SYN, which skyrocketed 467% in a week.
What do these three coins have in common? They're all old projects from the 2021 bull market, all have dropped over 95% from their highs, and all are small caps with market caps of only a few million.
I specifically checked the data. BICO is now at $0.04, with an all-time high of $21, down 99.8%. Its market cap is $30 million, but it has a 24-hour trading volume of $160 million, which is over 5 times its market cap. BEL is even more exaggerated, with a market cap of $13.5 million and a trading volume of $64 million.
When the trading volume far exceeds the market cap, what does that mean? Normal coins typically have a trading volume of about 5% to 20% of their market cap. A 5x trading volume indicates that a lot of money is being swapped around frantically; either there’s organized pumping going on, or market makers are just washing volumes.
Plus, none of these coins have any major news. BICO recently released an SDK update, BEL's last news was an AI integration back in January, and all of SYN's news is from 2022. There’s no fundamental support at all; it’s purely driven by funds.
This kind of market play is actually pretty old school. Pick a project that’s dropped 99%, has a small market cap of just a few hundred thousand, and you can control the price, pump it by a percentage or two, and retail investors see "up 60%" and jump in, only for you to dump. BICO has climbed from $0.018 seven days ago to $0.04, a total of 120%. You think you’re catching the bottom, but you’re actually just getting caught holding the bag.
Ladies, remember this: a coin that has dropped 99% can drop another 99%. A trading volume that is 5 times the market cap isn't an opportunity; it's a trap.
$BICO $BEL $SYN #晚盘异动 #zombiecoin
Every time the market is just sideways and boring, a bunch of altcoins we've never even heard of suddenly skyrocket by dozens of points, and then someone in the group starts yelling "next hundredx coin!"
Today, Biconomy, aka BICO, jumped 63% in 24 hours and doubled over the week. Bella Protocol, BEL, went up by 47%. Then there's Synapse, SYN, which skyrocketed 467% in a week.
What do these three coins have in common? They're all old projects from the 2021 bull market, all have dropped over 95% from their highs, and all are small caps with market caps of only a few million.
I specifically checked the data. BICO is now at $0.04, with an all-time high of $21, down 99.8%. Its market cap is $30 million, but it has a 24-hour trading volume of $160 million, which is over 5 times its market cap. BEL is even more exaggerated, with a market cap of $13.5 million and a trading volume of $64 million.
When the trading volume far exceeds the market cap, what does that mean? Normal coins typically have a trading volume of about 5% to 20% of their market cap. A 5x trading volume indicates that a lot of money is being swapped around frantically; either there’s organized pumping going on, or market makers are just washing volumes.
Plus, none of these coins have any major news. BICO recently released an SDK update, BEL's last news was an AI integration back in January, and all of SYN's news is from 2022. There’s no fundamental support at all; it’s purely driven by funds.
This kind of market play is actually pretty old school. Pick a project that’s dropped 99%, has a small market cap of just a few hundred thousand, and you can control the price, pump it by a percentage or two, and retail investors see "up 60%" and jump in, only for you to dump. BICO has climbed from $0.018 seven days ago to $0.04, a total of 120%. You think you’re catching the bottom, but you’re actually just getting caught holding the bag.
Ladies, remember this: a coin that has dropped 99% can drop another 99%. A trading volume that is 5 times the market cap isn't an opportunity; it's a trap.
$BICO $BEL $SYN #晚盘异动 #zombiecoin