2026-01-20 00:23:37

Did you notice lately? The crypto ecosystem is undergoing subtle changes. New projects are being cut in half immediately after launch, small coins in hand remain stagnant, while the contract space is experiencing daily swings of wealth. What underlying logic is behind this? How should ordinary retail investors respond?

**The Fate of New Coins: A Pre-Determined Ending from Birth**

Imagine a scenario: a newly opened casino, before opening, gives away 90% of the chips to insiders, while the remaining 10% are sold at sky-high prices to outsiders. This stark distribution was doomed from the start.

The issuance of new coins today is very similar—

Project teams and institutional investors acquire large amounts of tokens at nearly zero cost, with valuations pumped to hundreds of millions or billions from the outset. The product has few users, yet the market cap is astronomical, and growth potential is severely limited. Tokens for teams and early investors are gradually unlocked, with only one goal: cash out as soon as possible. Spot buyers become the final bagholders, buying high and only able to be repeatedly cut.

The result is obvious—the spot market stalls, trading volume dwindles, and no one dares to truly participate.

**A New Harvesting Technique: From Pumping to "Pinning"**

Instead of wasting effort to pump the price to attract spot traders, smart market makers have found a more efficient way—transferring wealth through the contract market.

The common approach involves two steps—

First is "farming fish." Let the price slowly decline over several months, gradually dissipating market interest, with more and more traders shorting. Second is "closing the net." At an inconspicuous moment, use relatively small funds to quickly push the price up, triggering stop-losses on many short positions, leading to a chain reaction of liquidations.

This strategy is more cost-effective than traditional pump-and-dump tactics, leveraging the leverage effect of the contract market to amplify gains. The price doesn't need to rise significantly; just enough volatility is enough to harvest a large number of contract positions.

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AirdropHunterWang

· 01-20 00:53

Damn, it's the same old trick... I've seen it all before. Now they're even starting to manipulate contracts with pump and dump schemes. Retail investors are really just sitting ducks.

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MevShadowranger

· 01-20 00:51

Damn, the pin insertion is happening again, and I'm losing money... I really should stay away from contracts.

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LightningHarvester

· 01-20 00:50

Wow, this method of cutting really is amazing. I was completely blown up by the injection pin in this way last time.

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MetaverseVagabond

· 01-20 00:25

It's the same old story, basically institutions finding new ways to trap retail investors. Spot trading is stagnant, and contracts are causing chaos every day. It's really outrageous. --- I've seen many of these pump-and-dump schemes. Every time, just a few thousand yuan can trigger a flood of explosive orders. Anyway, the losers are always small retail investors like us. --- So, don't even bother with new coins. From the moment they start the IDO, it's designed to trap the chives. I’m just playing with old coins in spot trading now, at least I can sleep peacefully. --- Wait, are you saying market makers can make money just by relying on volatility? Then why do they bother to manipulate the price? Just do the pump-and-dump directly, right? --- Damn, got caught again. This time, a short position was liquidated. Contracts really are ruthless. --- Who still trusts new projects? As soon as they go live, there's a hundredfold expectation, but then they get cut in thirds three times before it's over. Those who buy in end up in ICU. --- You're right, but the problem is, retail investors knowing this logic doesn't help—they still can't avoid it. --- Contracts are just like gambling, the higher the leverage, the more exciting. But in the end, it's all the same result—liquidation.

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