GAS continues to rise: is there manipulation?

In order to support the activity of the Neo network, the GAS token rose by more than 150% in a week on the influence of futures trading. The cryptocurrency market has seen a ridiculous rise, in which market makers have played a significant role. Amid these bullish scenarios, the GAS token also achieved stellar results.

GAS, which emerged to enhance the network capabilities of Neo, known as the Chinese blockchain, saw its gains exceed 120% last week. However, more and more opinions believe that price manipulation is the reason behind the rise of GAS. Binance announced on October 24 that it would launch GAS futures with 50x leverage. #GAS

Since the listing news was released, GAS prices have increased by 660%. While the price of GAS was $2.61 during the Binance announcement, it reached $6,950 a few days ago. GAS, which had a market value of US$25 million before listing, now has a market value of US$70 million. But the rise in GAS is not organic and could fall by 34% under possible selling pressure.

For cryptocurrency traders, it is important to be careful and follow market conditions when trading on GAS.