What's happening with $Pyth over the past two days, as a large amount of Pyth Tokens have been unlocked?
A few days ago on May 15, 2024 I saw a price drop of $AEVO , when the AEVO token was unlocked. Based on AEVO's method, I tried to place a SHORT PYTH order to trade FUTURE at the price of 0.4478 on May 20, 2024. Initially, I won 100% with this order, when I thought that Pyth would like AEVO, will drop in price. If it fails, it does the opposite.
Pyth came back bullish and destroyed my SHORT order. It's interesting with this market. Although I suffered a loss yesterday, it had no effect because I only tried to experience Future trading with the mentality of understanding the trend.
From there I realized that no matter what cryptocurrency, you will never know how it will go, so it's best to invest wisely and not participate in the Future trading market. because it's too risky.
When trading Futures, if you think you will earn 10, 20, or 1,000 times your current account, that is a bad idea.
Futures trading will swallow all your investments if you are greedy or want to make money quickly. First, you must be good at calculation and judgment before trying to participate in the Future market.
Back to Pyth, I have practiced tracking the TOken unlocking timelines to keep up with the up and down trends, some are correct and some you don't expect. Going through the timeline, I saw many people commenting that Pyth lied about the unlocking time to distract the market (before AEVO had a large amount of tokens unlocked, a price push up occurred). , and after unlocking the tokens, the price drops dramatically, you can profit if you grasp the trend).
But no matter what, I don't have much risk with Pyth. This article is only about my experience of testing futures trading when I think I can identify the trend of a certain Token before unlocking time.
This is not an article calling for or encouraging you to invest, please do your own research.
