In half a day, REEF coin plummeted nearly 50% from its highest point. The dealer made a lot of money whether it was long or short. Even when it was long, it could make another profit by charging the short funding rate. I remember I mentioned it before. When the shorts were almost eliminated, the dealer turned to short again and continued to harvest retail investors who chased high.
Even if it faced a 3% handling fee yesterday, the price was still pulled up all the way. It was all the result of short forces pushing up the price all the way, pushing the price to 0.01049 at the highest. After clearing at least 80% of the shorts, the project party began to attack retail investors who chased high and bought.
In the end, those innocent retail investors were hurt.
For this kind of coin, if you don’t have a deep understanding and cognition, it’s best not to touch it, otherwise you may suffer a price plunge. I remember that there should be a buddy in the square who played REEF back and forth a lot. I don’t know how it is now.
