According to BlockBeats, on November 25, NDV co-founder Christian posted on social media, “Many friends have sent me private messages about the contract on Cheems. Some congratulated me, while others were puzzled. Now I can finally calm down and sort out the cause and effect. I hope to communicate more candidly with my friends in the community and continue to rebuild consensus.
I was shocked to see the news of the listing tonight, because no one mentioned this to me. I asked the official operation team, and they didn’t know about the listing news at all. After analyzing the reasons for the sharp drop, I found that the “rat warehouse” addresses that entered the market on the 19th continued to raise the price, and the robots on BSC generated millions of dollars of selling pressure in the short term until the bottom was caught.
We will not maliciously speculate whether these large purchases were made based on insider information or whether they were just speculation based on predictions, but the bottom line is that the consensus on Cheems tokens is not strong enough to be worth $200-300 million. It is supported by unrealistic expectations of listing (spot), and a sharp drop is inevitable when expectations are not met.
I know that some people will doubt whether the so-called "banker" (that is, me or some big investors) is cooperating with the harvest and intends to leave the market. But I believe my friends will know that on the one hand, this practice will hurt the trust of the community, and on the other hand, tracing the addresses will find that these addresses have not made any money at all.
Back to my personal thoughts, the news of the listing, which should have been good news, has instead created a big negative line like a pillar of shame. This is a blow to the community, but it is also an episode in this story. Overall, liquidity has improved significantly. The high trading volume means that everyone's trading enthusiasm is still high, and the community really has a consensus. The carnival of the BSC ecosystem cannot be achieved by forcing growth, and unrealistic expectations are also a way to kill the hype. The establishment of the community requires one step at a time.
I don’t think contracts are the antonym of spot. Only failed projects and failed communities, only large investors and market makers without a vision who use contracts as a way to exit, and some insider trading have created the recent bearish situation for contracts. But there is nothing wrong with this in itself. After putting aside emotions, it is more realistic to be able to analyze logically.
I will keep persisting and we will keep moving forward. I am happy to see the community full of encouragement and positive energy."
