One of the co-founders of the controversial same same Libra says that the project itself “pulled” the token just after its trip.
In Crypto Trading, Sniping refers to the practice of using bots or trading scripts to buy a newly launched part before large transactions or the entry of retail merchants.
Elite shooters obtain their advantage by buying early in anticipation of a massive peak of negotiation volume with the arrival of other investors.
In a new interview on the YouTube Voidzilla channel, the Balance Co-creator Hayden Davis said It does not deny that the portfolios linked to the project triggered the same on the launch day.
According to Davis, the balance had a separate treasure dedicated to swallowing up the token and racing at the front of other investors.
“”This money that we consider “sniping” is the money of the project. »»
Davis says that the teams behind Memecoin often launch sniping “to dissuade” the others from stopping early.
“From the point of view of the shoot, most of the time, when we draw shooters, we try to prevent other shooters from the shooters.”
He explains that the same projects must sniper their own parts to increase the chances of survival by inflating market capitalization to a level high enough for the market to absorb significant sales orders of deep pocket investors.
Balance, a crypto project initially supported By Argentinian president Javier Milei reached a market capitalization of more than $ 4 billion on the launch day before losing more than 95% of its value on the same day. Milei has since go back his support for cryptographic assets. The people behind the team, including Davis, are in hot water among the rug and initiate sidewall accusations.
But Davis denies any reprehensible act and says that the scale is a “plan that has miserably shot”. He also says that the team sits out of $ 100 million on the project money.
https://www.youtube.com/watch?v=eqizjtbxaem
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