guys, listen to me, I have a strange vibe that 3ac, from @zhusu is the one shorting EGLD along with AVAX, he is #1 on bitfinex leaderboard this week. For sure he is short, and which coins had the most worse week?
IMHO LKMEX rewards are dragging the price down day after day. We have over $1mil worth of LKMEX generated every day( based only on MEX and EGLD-MEX farms), Assuming only half of the users are selling LKMEX for EGLD means we got around 7k EGLD available for sale . Let's say half of it goes to the stake , the rest of 3.5k are sold for fiat. Not to mention Agencies and Whales rewards in EGLD - can bring a lot more selling pressure . . . UTK announcement yesterday generated more selling pressure with users converting/ selling EGLD to buy UTK etc.
Fr I'm feeling both Zhusu and SBF
IMHO LKMEX rewards are dragging the price down day after day. We have over $1mil worth of LKMEX generated every day( based only on MEX and EGLD-MEX farms), Assuming only half of the users are selling LKMEX for EGLD means we got around 7k EGLD available for sale . Let's say half of it goes to the stake , the rest of 3.5k are sold for fiat. Not to mention Agencies and Whales rewards in EGLD - can bring a lot more selling pressure . . . UTK announcement yesterday generated more selling pressure with users converting/ selling EGLD to buy UTK etc.