Serum price soars 140% in a week amid FTX 'exit pump' fears
FTX Exposure Risk Didn't Stop Serum Price From Massive Rally Despite Massive SRM Pullback by major cryptocurrency exchanges.
Altcoin Watch
Serum, a “decentralized exchange” on the Solana blockchain, has seen outstanding price performance for the SRM token, despite being tied to the former FTX exchange.
SRM price up 140% in one weekOn the daily chart, the SRM/USD pair has gained 140% over the past seven days, reaching $0.319 on November 21 from $0.177 on November 14.
This pushed the outstanding market capitalization to approximately $73 million and the "fully diluted market capitalization", the market capitalization if the maximum supply was outstanding, to nearly $2.8 billion.
SRM/USD daily price chart. Source: TradingView
SRM price rose despite continued delisting of Serum trading pairs on major cryptocurrency exchanges including Binance, OKEx, Gate.io and Phemex, raising fears of an ongoing “exit pump” .
Exit pumps occur when large investors raise the price of the token in a low liquidity environment to attract new buyers, only to then release their entire holdings to amateur investors, as evidenced by many programs pumping and emptying.
Ahaha. This pump here, is meant to trap anyone in position on kucoin
FTX Exposure Risk Didn't Stop Serum Price From Massive Rally Despite Massive SRM Pullback by major cryptocurrency exchanges.
Altcoin Watch
Serum, a “decentralized exchange” on the Solana blockchain, has seen outstanding price performance for the SRM token, despite being tied to the former FTX exchange.
SRM price up 140% in one weekOn the daily chart, the SRM/USD pair has gained 140% over the past seven days, reaching $0.319 on November 21 from $0.177 on November 14.
This pushed the outstanding market capitalization to approximately $73 million and the "fully diluted market capitalization", the market capitalization if the maximum supply was outstanding, to nearly $2.8 billion.
SRM/USD daily price chart. Source: TradingView
SRM price rose despite continued delisting of Serum trading pairs on major cryptocurrency exchanges including Binance, OKEx, Gate.io and Phemex, raising fears of an ongoing “exit pump” .
Exit pumps occur when large investors raise the price of the token in a low liquidity environment to attract new buyers, only to then release their entire holdings to amateur investors, as evidenced by many programs pumping and emptying.
Ahaha. This pump here, is meant to trap anyone in position on kucoin
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