Current copycat strategy
Let me summarize the current situation for you
In the past two days, we can clearly see that some altcoins have revolted and wanted to do something big, but there are only one or two leaders!
It’s not that there is no capital in the market, there must be some, otherwise ygg would not have kept rising from 0.2 to 0.6, which shows that the market capital is still large!
However, there is a problem. The funds do not have continuity. Perhaps the market makers want to pull up the market, but the market funds flow in waves. No matter whether they have a large position or a small position, they basically leave after taking a gain. Those who move slowly may be stuck at the top of the mountain or hit a stop loss!
There are many hot coins and many news coins. You need to be quick and have a cool posture. When you see good news or news sources, just do it. Get 5 or 10 points and leave. Don’t think about the pattern of the current copycat coins. Although they have fallen ten or dozens of times, they are like people with kidney deficiency and have no stamina. So leave when you get the gain, don’t fight!
Many currencies emerge every day, and the market's funds, sectors, and concepts rotate very quickly, so the first thing to do is to keep up with the pace.
Second, control your position
Third, strictly set profit and loss limits!
For the current currencies, simply looking at the technical aspects is basically useless. We are more concerned with superficial things, such as tweets, good news, shouting orders, etc. We are hot money ourselves, and we will attack wherever there is a sign.
If there are good currencies, I will share the source of information to the group as soon as possible!
YGG surged 330% in three days! But is a "reversal" coming as whales continue to dump stocks?
According to data from the Binance exchange, the token of the gaming guild Yield Guild Games (YGG) soared by more than 330% in three days, attracting the attention of the community.
As can be seen in the figure below, the price of $YGG was hovering around $0.2 at 9:00 a.m. on the 4th, and began to experience a strong increase at noon on the 5th, reaching a high of $0.6622 at around 9:00 p.m. on Sunday evening (6th), setting a nearly one-year high.
Why did YGG surge?
As for why YGG can have such a large fluctuation in the short term? The community speculates that it is related to Binance’s announcement to launch YGG 1-20x U-based perpetual contracts at 11:30 on August 5, 2023 (Eastern Time).
On the other hand, the reason for the rise of YGG may also be related to the short squeeze of investors. According to Coinglass data, in the past 24 hours, the liquidation amount of YGG liquidation reached 4.04 million US dollars, ranking first, higher than BTC.
Are whales transferring large amounts of YGG to Binance Exchange for dumping?
It is also worth noting that according to the data shared by X (Twitter) account Yu Jin at about ten o'clock last night, Web3 venture capital and market maker DWF Labs transferred 3,649,995 YGG (about 2.23 million US dollars) to Binance, which was close to the time when YGG reached a high of 0.6622 US dollars, making people suspect that the company may have already taken profits at the high point.
It is understood that DWF Labs received 8 million YGG from YGG on 2023/2/10, and transferred all of it to Binance in three installments in recent months: •
2023/2/14, 700,000 transferred to Binance • 2023/6/19, 3.649 million transferred to Binance • 2023/8/6, 3.649 million transferred to Binance
In addition, according to lookonchain data, BITKRAFT Ventures has also recently deposited 1.57 million YGG (about 907,000 US dollars) into Binance through Wintermute Trading and FalconX; the whale with the address starting with 0x639B also deposited 2 million YGG (about 1.16 million US dollars) into Binance, and currently still holds 2 million YGG (about 1.16 million US dollars).
At present, we cannot determine the exact intention of these whales to transfer large amounts of YGG to the exchange, but Brother Xiong reminds you that YGG is currently volatile, so please be careful to control risks before investing.
