According to Binance exchange data, the token of Yield Guild Games (YGG) soared by more than 330% in three days, attracting community attention.

As shown in the figure below, the price of $YGG hovered around $0.2 at 9:00 a.m. on the 4th, and began to see a strong increase at noon on the 5th, reaching a peak of $0.6622 at around 9:00 p.m. on Sunday night (6th), setting a high point in nearly a year.

Why did YGG surge?

As for why YGG has such a big 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 Zone 8).

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.

Dog farm shipping in large quantities?

Web3 venture capital and market maker DWF Labs transferred 3,649,995 YGG (about $2.23 million) to Binance, which was close to the time when YGG reached a high of $0.6622, 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, 3,649,000 transferred to Binance 2023/8/6, 3,649,000 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 address 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)

About YGG

YGG has doubled in the past three days. I believe many people have seen it. This is also due to the frequent union activities of YGG recently.

1. YieldGuild’s cooperation with Axielnfinity in hosting tournaments has a positive impact on prices

2. YGG’s role as a validator on the Ronin Network will flow funds back to the YGG treasury through verification commissions and rewards for holding RON on behalf of B.

3. GameFi has been in the market for a long time and rebounded normally

YGG Funding Rate: Full, top signal appears

Contract positions: Binance is the absolute core share. Binance's positions are close to the circulating spot market value. The total positions exceed the spot market value, and the top signal appears.

Trading volume: has exceeded $5 billion, second only to Bitcoin

Long-short ratio: For altcoins with this kind of growth, the long-short ratio is not very meaningful and can be ignored. The long-short ratio of Bitcoin and Ethereum is very meaningful.

YGG is close to the top. As for when to go short and how much to go short, it depends on your experience and choice. It is recommended not to go short when the funding rate is full and has not been settled, because after the first full funding rate on Binance, the market has not turned around immediately before settlement. Generally, it is best to wait for 1-2 waves of full funding rate settlement.

Are you excited or disappointed seeing the monster coins these days?

The key is that it is not easy to get it. The ambush is a drop, the surge is not worth chasing, and the one who dares to chase it will hang on the top of the mountain. I can tell you that the main rising wave of the bull market is crazier than this, and all of them are like this, so what we have to do now is to invest regularly or buy more when the price drops, and don't stare at the fluctuation of three or two points all day and lose your temper. Do what you should do.

Today's sharing ends here. Thank you very much for taking the time to read this article in your busy schedule. I hope the article is helpful to you. You can follow me and leave me comments to communicate with me.