Why you shouldn't short everything
In the last couple of days, some noname token MYX made x10, liquidating a bunch of shorters.
MYX is a utility token of an unknown DEX exchange: https://app.myx.finance/trade
And here is a reasonable question: why on earth is this token even growing?
0 utility, 0 hype, the project looks like a complete no-name.
Let's look at on-chain statistics:
98.329% of the total supply is concentrated on just 20 wallets.
That means the actual free circulation is only 1.67%.
The conclusion is obvious: this is a highly centralized token, where it is easy to pump the price with relatively small assets.
For comparison, here is another example:
WBT is a utility token of the well-known exchange Whitebit.
The TOP-20 wallets own 99.9773% of the total volume 🤷♂️
And what about FDV?
It doesn't really matter. It can be drawn up by anyone, because the entire token is under full control of the team.
Conclusion:
Don't be reckless. Don't chase easy money.
In crypto, there are plenty of opportunities to earn normal percentages with controlled risks.
#Green_lamp $MYX