Today I've seen many posts about the $PUMPBTC delisting, and a lot of traders got hit by the move.
Earlier today I also dropped a post about one trader who lost around $3K from PUMPBTC. After reading all his messages and posts, I understand why he's asking Binance to investigate. He says he tried to close around a $335 loss but couldn't, and claims he has proof and timestamps. If an exchange-side technical issue genuinely prevented a valid closing order, @Binance Square Official should investigate it.
But honestly, if I had to divide responsibility, I'd say 80% trader, 20% Binance, assuming the technical issue is confirmed.
Why open or keep a position on a contract you already know is scheduled for delisting?
When I open any trade, it's my responsibility to understand the risk, liquidity, market depth, volatility, settlement time and how much I can afford to lose.
At the same time, if Binance had a technical problem that prevented traders from closing positions before settlement, that's absolutely something Binance needs to answer for.
But my main point isn't who's right or wrong.
Why do delisting tokens behave so insanely?
After a delisting announcement, liquidity often disappears. Market makers reduce exposure, order-book depth gets thinner and spreads widen. Then even relatively small orders can move price massively.
Add traders chasing the final pump, short squeezes, forced closures and settlement speculation, and you can get 100%, 300% or even 800% moves.
That's why delisting tokens can become completely irrational.
A pump doesn't mean bullish. Low price doesn't mean cheap. And being far from liquidation doesn't mean you're safe.
Before trading a delisting contract, check the announcement, settlement time, liquidity depth and execution risk.
Guys, what's your take on this? Drop your thoughts in the comments.
If you faced the same exchange-side issue, share your experience and tag Binance so they can investigate it properly. $SAND $MOVR
Earlier today I also dropped a post about one trader who lost around $3K from PUMPBTC. After reading all his messages and posts, I understand why he's asking Binance to investigate. He says he tried to close around a $335 loss but couldn't, and claims he has proof and timestamps. If an exchange-side technical issue genuinely prevented a valid closing order, @Binance Square Official should investigate it.
But honestly, if I had to divide responsibility, I'd say 80% trader, 20% Binance, assuming the technical issue is confirmed.
Why open or keep a position on a contract you already know is scheduled for delisting?
When I open any trade, it's my responsibility to understand the risk, liquidity, market depth, volatility, settlement time and how much I can afford to lose.
At the same time, if Binance had a technical problem that prevented traders from closing positions before settlement, that's absolutely something Binance needs to answer for.
But my main point isn't who's right or wrong.
Why do delisting tokens behave so insanely?
After a delisting announcement, liquidity often disappears. Market makers reduce exposure, order-book depth gets thinner and spreads widen. Then even relatively small orders can move price massively.
Add traders chasing the final pump, short squeezes, forced closures and settlement speculation, and you can get 100%, 300% or even 800% moves.
That's why delisting tokens can become completely irrational.
A pump doesn't mean bullish. Low price doesn't mean cheap. And being far from liquidation doesn't mean you're safe.
Before trading a delisting contract, check the announcement, settlement time, liquidity depth and execution risk.
Guys, what's your take on this? Drop your thoughts in the comments.
If you faced the same exchange-side issue, share your experience and tag Binance so they can investigate it properly. $SAND $MOVR