$USUAL This wave of selling pressure is said to be due to a bug where redeeming pledges does not require a handling fee. Those who have pledged can verify this themselves.

I reviewed the events of the past few days, my personal opinion:

After the market opened, the price was pushed up, pledging was opened, high returns, and the price of the coin rose... A large number of retail investors withdrew their coins to pledge. Due to a 7-day verification period, logically, the first batch of mining and selling should start dumping after 7 days...

The market was pushed up for a few days, spot profits were taken, long positions were profitable, and the market capitalization surged. Continuing to push up would come at too high a cost...

Started to offload, dumping the price, adjusting the K-line...

Clearing out long positions: from a high of 1.63 to 0.94, long positions are basically done for...

No handling fee bug for redemption: with the price of the coin in a downward trend, a large number of retail investors hurriedly took their coins back to sell, preserving the profits from previous pre-market trading.

Reducing the risk of future dumping: since everyone redeemed before the 7 days of pledging were up, they lost out on the subsequent interest, significantly lowering the risk of dumping when mining and selling later...

Profit-taking and exiting: many who entered during pre-market trading will choose to exit to preserve profits. Those who entered at high prices and are risk-averse may panic and cut losses, further reducing the burden...

Harvesting chips: those who needed to leave have mostly done so; the market maker picks up chips at low prices and is well-prepared. What about the shorts? Everyone can think for themselves.

These are all my personal opinions; don’t take them too seriously! #USUAL走势分析