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Bidao🍀MEME艺术家
The pump mode of $MYX is different from previous coins; this design can only be described as impressive.
Because Binance hasn't listed the spot market, the overall spot liquidity is very low, and most of the spot trading is on-chain.
Only a few small exchanges like MEXC and ZB have listed the spot market, and the liquidity there isn't significant.
With a market cap of 20 billion and a BNB pool worth 1.5 million, it reminds me of those self-pumping meme coins that went viral like Aave.
In fact, there isn't much spot liquidity; the main liquidity comes from contracts.
Currently, Binance's contract positions are at 200 million USDT, which is 100 times the size of the on-chain liquidity pool.
So this pump has a low cost.
Not much BNB is needed in the pool to float the on-chain price, with a daily on-chain trading volume of only 48 million (contract trading volume is 6.6 billion). The unrealized gains and losses of the contracts are just data reflected on the exchange.
No wonder they haven't opened the spot market.
The size of the liquidity pool for a 10 billion project is similar to that of a 1 million project.
Because there is no spot liquidity, the changes in contract positions do not need to be reflected in the spot buy and sell orders (when large contract orders for BTC and ETH are opened or closed, there is also a corresponding spot transaction, which can either crash the price or pump it up). $MYX is purely a contract, and contracts are primarily data-driven.
So the cost of the pump is actually very low; even market makers don't need to engage in high-intensity market making, nor do they need to outsmart retail investors when the market cap is low. Considering the short-seller fuel, it's even easier.
It's really impressive; buying spot can basically only be done on-chain, and the price fluctuations caused by buying and selling spot are significant, but in contracts, it's all controllable by the exchange.


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(eth)Aped a bag on $DOGENARII CTO.
Narration from $dogecoin official Twitter, the concept of dog in Roman mythology,Solid narrative.
The Market Maker of $WLFI, $MANYU and $NEIRO is working on $DOGENARII!!
1.9M MC. launch only 15hours
@DOGENARIIoneth
CA
0x8D548DbC4c689cFA5E5925d52b9Ac358b3913653


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