Short squeeze on negative funding rate.
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I swear XEC is the only coin that has these weird price movements like that. No idea what causes these mini pump and dumps.
Someone chose eCash to move money through the blockchain, probably as a bridge.
interesting theory, but due to low liquidity, i don't think that's the reason.
Many things happening.
i'd love to know why price pumps like that on significant volume then dumps immediately after but moving money doesn't feel like the answer to me.
1 reply
you may be onto something. unfortunately i'm not very knowledgeable on how this stuff works: https://www.kucoin.com/trading-info/futures/funding-rate/XECUSDTM