These so-called VC value coins on Binance are all for harvesting retail investors.

Recently, I believe many people have been tricked by ME, raising nearly 150 million, with COINBASE as an investor, an issuance of 1.1 billion, and a circulation of 130 million. Why did it perform so poorly after going online? Before going online, ME opened pre-market trading and settlement contracts in advance, allowing these previous participants to acquire chips early. After ME went online, it soared around 30, and then dropped all the way down to about 3.6. This is the current result caused by the selling pressure from early participants acquiring chips. Investigations indicate that a large amount of selling was driven by retail investors, while the outflow from major players is negligible, only a few dozen to a few hundred, which can be disregarded as just a trigger.