Sell Your $PYTH !
I made a post about the PYTH token unlock and it has cost me hours and hours of my life because I went down the rabbit-hole and did research.
What I found is not good,the project looks to be a rug pull project with even the recent token unlock schedule not going on time and large portions being unlocked without data or reasoning.
I have read about early supporters and top 100 wallets who supported the project from the start being ignored and given no answers regarding the project.
To me this project looks like thousands of others made to manipulate the market and make profits off retail.
Calling it a scam based on my knowledge would be misleading but I do feel the project team have lost interest in the community who supported it and have done things that show dishonesty.
Comments from a $PYTH early investor and community member(top 100 wallet)
“Before unlocking, there were two airdrops, one to the community and one to the cooperative project party, but the specific data flow was not made public, and it was questioned by the community. The project party DAO existed in name only and was useless. This time, the large-scale unlocking was very early, and there was no explanation to the community. No matter what the reason, it exposed the dishonesty of the project party. Although the price has been pulled up, is this a deliberate smokescreen to let everyone digest the negative information of the huge unlocking and maintain a gambling mentality? I think the next step is the beginning of a negative decline”
I have just shorted $PYTH with high conviction( Mid-long term short im not looking to scalp)
Shorted at 0.4659
I will start taking profit at 0.35 ,then close at 0.32.
I shorted at LOW leverage 3x(I can’t get liquidated) don’t be stupid and 25x it because of this post, that’s how manipulated tokens wipe you out (or i could be totally wrong, this is only my opinion,you have no idea who i am or if i am legit,yet.., lets see in the next 1-2 months)
Do your own research.
Peace.