Mega pump crypto

Here's what you need to know about crypto pump-and-dumps. What is a pump-and-dump scam? A pump and dump is a securities scam usually involving stocks. Scammers create false hype about a stock in order to generate interest. Once investors start buying shares, the price of the stock goes up. When the price reaches a certain point, the scammers behind the fake hype sell all of their shares.

This causes the stock price to plummet, which leaves new investors holding the bag. The movie The Wolf of Wall Street portrayed the infamous pump-and-dump scam conducted by Stratton Oakmont investment firm in the '90s. How does this scam work with cryptocurrency? It doesn't work much differently than with stocks. A certain crypto asset is pumped up by people in order to make the value increase. What's different is what's used for the pump-and-dump.

However, since creating a whole blockchain system for a currency takes a lot of time and effort, those knowledgeable about coding can create their own crypto tokens, which are digital assets using an already existing blockchain technology like Bitcoin or Ethereum. Now playing: Watch this: Dogecoin explained: The joke cryptocurrency worth serious Developers can also create billions of these coins, which in turn means they go for fractions of a penny.

Since someone can create billions of tokens easily that cost hardly anything, all that's needed is to convince enough people to buy these super cheap coins. This can be done through Discord channels, forums or social media, or by getting an influencer to promote the coin in exchange for their own trove of coins. If they dump it quickly, that'll cause its value to crash. Another small difference with the crypto pump-and-dump is the term.

While it's known as a pump-and-dump, in crypto circles the scam is referred to as a "rug pull," as in the rug was pulled right out from under the investors. Part of enticing people to buy these super cheap tokens is to say they're "rug-proof," which means there are measures in place to prevent people who have a large number of coins from selling them within a certain time period.

What are some examples of cryptocurrency pump-and-dumps? The pro gamers, along with other influencers, pushed the coin to their followers. A statement from FaZe Clan. Once people started buying, the organizers sold their coins and left everyone else in the dust. A study from the University of Technology Sydney and the Stockholm School of Economics in Riga found instances of crypto pump-and-dump scams over the course of seven months.

The organizers of these scams made millions. We highlight this channel as the number one, since it is not intended to be an investment channel, but rather a channel that supports the ecosystem and reports news about it. That said, the length of the videos can be a bit long. Gay, the Youtuber who is the face on the channel, can be funny with his British accent, but at the same time can be tiresome. You can subscribe to the channel through the following link.

His channel typically gives long-term investment view on different protocols and crypto projects. Healthy Pockets This is one of the Spanish-speaking channels that provides a higher quality content. You can access the channel through the following link. Alexander Lorenzo The American, Alexander Lorenzo, is an eccentric Youtuber that talks about the start of new projects together with a group of experts that give him support in technical analysis and others.

He defines himself as the hardest working Youtuber, broadcasting his long working days. Access his channel through the following link. Altcoin daily This channel focuses on explaining the crypto ecosystem, focusing on all cryptocurrencies and protocols beyond the Bitcoin. In this channel you will find the explanation of emerging protocols. Access their channel through the following link. Telegram 1. ICO Analytics This Telegram group includes announcements related to the launch of new projectsincluding Venture Capitals VC funding rounds, launch of new projects in Centralized Exchanges IEOs, and even the launch of new events within the crypto ecosystem.

If you want more information you can join the channel through the following link. The best part is that it always includes the information feed from the Telegram group. You can join the channel at the following link. Airdrops As you may know an Airdrop is when cryptocurrencies are given in exchange for the provision of a service. For example, sharing certain content related to a new project in social networks.

Attention, there is a large number of projects with low potential that Airdrops offer. This means that providing a service even if it is something as quick as sharing certain content on social networks can result in nothing. We recommend doing some analysis before providing any kind of service. To join the Telegram group you can access the following link.

LunarCrush Announcements LunarCrush is a website that measures market sentiment in relation to cryptocurrency projects. This sentiment is measured through user interaction with profiles on different social networks and mentions on digital channels. The Telegram channel includes daily notifications regarding the projects with the highest social engagement for that particular day. Join the channel through the following link. Bitcoin Industry This is one of the Telegram channels with the most followers where crypto industry news is published with the most agility.

The number of followers k. Join the channel though the following link. The number of followers is k. Join the channel at the following link. Crypto Mountains Crypto Mountains is a Telegram channel that informs about new trends within the world of cryptocurrencies. Crypto VIP Signal Provides trading signals and technical assistance as well as investment suggestions from a team of technical analysis experts.

Crypto Retro Like some of the other channels we have mentioned, this one is characterized by announcing new significant events within the blockchain ecosystem.

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