Coin Edition -
- Twitter user Andrew Kang reminds the community of the power of a China pump.
- Kang mentioned that these whales were mostly net sellers from late 2020 to 2022.
- He also asserted that China’s economy is 10x and so are their pumps.
Twitter user Andrew Kang recently took to his Twitter account to warn about the China pump. He stressed the fact that a lot of people have entered the cryptocurrency realm in the last few years and haven’t witnessed the true power of a China pump.
A lot of people in crypto that joined the last few years have never witnessed the power of a China pump since China whales were mostly net sellers from late 2020 to 2022They only know the power of Korean pumpsLet me tell you the economy of China is 10x and so are their pumps— Andrew Kang (@Rewkang) February 21, 2023
Kang also mentioned that the China whales were mostly net sellers from late 2020 to 2022. He also highlighted that the new cryptocurrency users are only aware of the Korean pumps. Kang warned users that China’s economy is 10X as are their pumps.
There has been a visible pump in several altcoins, including Neo, Conflux, Filecoin, VeChain, etc. Some even suggest that these pumps are mainly caused by Chinese and Hong Kong whales.
Then a clear-cut question arises: why a pump now? One cannot clearly ignore the fact that cryptocurrency whales have the power to pump and dump coins. This is mainly due to the sizable portion of tokens or coins that they hold, giving them the power to push the price of the coin.
Over the last few years, the Chinese economy has been hampered by the COVID pandemic. This has also affected the economy, which seems to be improving in recent times. Even though cryptocurrencies, including trading and mining, are prohibited in China, the power vested in the Chinese whales is unimaginable.
Additionally, Kang has also suggested that the FUD created by the US is causing market shorting. He claims that this is causing a tight squeeze, forcing traders to buy back higher.
The post Andrew Kang Reminds Crypto Community of the Power of a China Pump appeared first on Coin Edition.