[Ukiyo-e in the currency circle] Most of the new coins are money traps, which will make you lose your money in an instant!

The author chose an exchange that claims to have a quarter of the world's cryptocurrency users as a laboratory, took ten recently issued new coins as a sample, analyzed their trading status on the day of issuance, and used myself as a white mouse to invest in one of them. In the new currency transaction, to see what exactly happens, the results are as follows:

First of all, let's take a look at the terrifying situation of the ten new coins' worth skyrocketing. I recorded it in the form of a chart. I can see that the price changes in the first one or two minutes of the sale are very amazing. Half of the new coins are worth in the first minute. Inside, it has skyrocketed more than 100 times, the highest is 150 times, the smallest is 98 times, only three of the other five are more than double, and the other two are also 10 times and 15 times respectively, and then 10 times in the second minute. 7 new coins fell back to one or two times, the gap is very, very large, but since then their prices have not been the lowest, only lower, which is quite scary!

Now, let's take a look at the price comparison between these new coins on the day of the launch and today (11:16UTC) on December 20th. We find that the highest price on the day of the new coin's launch has become the coin's all-time high, and then with Time has been slipping, and today, compared with the current price, four new coins have fallen by more than 90%, that is to say, your principal has lost 90%, and the least three are on average. To lose one third, the other three range from 50% to 80%. The worst new currency is XTAG, and the rest is less than 3%. It's really worthless!

In the end, I used myself as a white mouse to trade one of the new coins, CHMB. The sale price of CHMB was $0.001, and the sale time was at 2:00 p.m. on December 17th. I prepared $350 to wait for admission, but when it arrived At the moment when the sale started, the exchange's order book showed that the price had already jumped to more than 0.11 US dollars, which means that its price had risen 110 times at the time of the opening, and then in just one minute, the price reached 0.12798 US dollars , which is 128 times the original price. In the next few moments, it set an all-time record at 0.144. I entered the market from $0.14, but the price kept falling. After three minutes, the price fell to the level of $0.073, and I lost my capital. Half of it, from this personal experience, it has been verified that many new coins are actually money traps set up by some people. Before the sale, most of the new currency owners, including developers, new currency airdroppers, and farmers, etc., They already have a lot of new coins that have been developed or bought at the original price, and then they raise the price to sky-high in the first minute or two of the sale, and then sell off a hundred times the price in the next few minutes. I used the new coins to make money. I originally sold CHMB worth $350 for $0.1 and exchanged it for $249. I lost $100 in just three minutes. The current price of CHMB is still only $0.08788, which is the same as mine. Compared with the selling price, it is still a bit worse!