Uncovering EGLD and FTX Market Manipulation Activities
EGLD and FTX Market Manipulation Unraveled
In a recent podcast episode, cryptocurrency executives exposed serious market manipulation tactics used by the now-defunct FTX exchange. Executives from MultiversX Labs outlined how FTX, led by Sam Bankman-Fried, engaged in various manipulative practices detrimental to EGLD and other cryptocurrencies.
Details on Market Manipulation
- Manipulative Activities: These included pumping, farming, dumping, and shorting, significantly affecting EGLD's price.
- Broader Impact: Reports suggest other projects like Avalanche suffered similar fates due to FTX dealings.
How FTX Affected EGLD
DavyCrypto stated that FTX's involvement inflated EGLD to an all-time high but ultimately exacerbated its decline to under $40.
Learning from the Past
As analysts speculate a potential bull market, understanding the ramifications of FTX's actions is crucial for investors. History teaches vital lessons for future investments.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.