“Exchanges are excited about Notcoin. They haven’t seen such an increase in users for a long time,” comments professional crypto trader Boris Zabavnikov. Notcoin created an abnormal influx of liquidity and trading volume of $3.3 billion per day in futures on Binance. This is second only to ETH, the second-largest cryptocurrency by capitalization. But “in all this euphoria” lies a danger for an inexperienced market participant, he notes.
It’s important to remember that “most people won’t make money in the end,” the trader adds. Considering that market making for Notcoin is carried out by DWF Labs, a well-known company in the crypto environment, it is worth assessing the risks even more carefully.
In early May, The Wall Street Journal wrote that the operations of the market maker DWF Labs on Binance with at least seven tokens revealed fictitious transactions and inflated trading volumes amounting to more than $300 million. DWF Labs called the accusations unfounded and distorting the facts.
When trading an asset such as Notcoin, it is worth partially fixing positions every 10-20% of the movement, advises Zabavnikov, reminding that “there is no endless growth.” In addition, it is worth controlling your own emotions and not neglecting the installation of protective orders - stop losses, especially at a time when the trader cannot monitor the market.
