Beware of; There may be an “exit pump” in PERL, WTC, BTS and TORN, which are listed by Binance.
Binance will delist BTS, PERL, TORN and WTC on December 7. After the delisting, there were sharp declines in the altcoins subject to the delisting. WTC in particular took the post-delist crypto community by surprise.
With Binance announcing that it would delist four altcoins, WTC dropped by 75 percent, PERL by 70 percent, TORN by 60 percent and BTS by 50 percent.
As the day when Binance will delist approaches, the large wallets remaining in these altcoins may have resorted to the “exit pump” method. Seeking to cover their losses, market makers appear to be trying to attract new investors by upgrading the coins. The biggest risers on Binance during the day were the delisted cryptocurrencies.
They have become delists but they are at the top!
WTC, BTS, PERL and TORN, which are well known in the crypto market, are preparing to say goodbye to Binance. Binance will officially remove these 4 coins from the exchange on December 7.
Local tokens of the projects to be delisted from the stock exchange were the most rising cryptocurrencies of the day. Especially on the PERL side, there was an increase of over 100 percent. While crypto investors were trying to understand this rise in delist projects, the exit pump strategy came to the fore.
Exit pump means that large asset owners involved in any project make an artificial rise in order to sell to new investors before abandoning the project. In other words, major wallets in cryptocurrencies such as WTC and PERL may be trying to leave the project by minimizing losses before delisting. Therefore, large wallets seem to pave the way for artificial increases in order to attract new investors to projects.
No other detail can be seen except the exit pump. Because the projects received strong sales after delisting and were pushed to the background. The remaining investors may want to sell their coins to new investors and exit.
According to CoinMarketCap data, WTC’s trading volume increased by 1,548 percent in the last 24 hours. Additionally, the WTC market value has increased by 100 percent in the last 24 hours. According to the data, PERL’s transaction volume increased by 3,700 percent, while BTS’s transaction volume increased by 1,943 percent. On the other hand, TORN has achieved a 700 percent increase in transaction volume in the last 24 hours.
Crypto investors are advised to be careful when approaching rising crypto currencies and not to get involved in projects that give the impression of an exit pump.
