Lebit btctop
< First, DMM stopped operation
the defi money market used to be a loan platform, causing some serious concerns in the cryptocurrency community. One of the reasons – this is a popular defi project, supported by some celebrities, including drapper gorenholm – Tim Draper, the partnership between alon Goren and Josef Holm, committed to investing in blockchain solutions
unfortunately, supporters of the project received bad news today as the team behind DMM announced that it would stop operations immediately
e to the inquiry from the regulatory authorities, DMM is being closed. With immediate effect, mtoken casting is no longer available. Although the interest rate of mtoken will be reced to 0% around February 10, 2021, the redemption of mtoken will be provided indefinitely. At present, there is capital and interest available to redeem all outstanding mtoken and accrued interest. – Read the official website
however, e to many changes in the price of protocol management token DMG, many communities have lost great value, which shocked the community< Second, the price of DMG is 90%
the management token of DMM, and the price of DMG has plummeted by 90% in less than 60 minutes. It rose from more than $0.50 to about $0.05. The market is still open, so it has recovered slightly, but it is obviously not good for those who fail to dispose of the token in time
FTX, one of the exchanges where DMG uses leverage to trade, also provides some enlightenment for the event. Sadness depends on what happened with DMG today. We will keep the DMG market open and allow people to trade according to their needs. Leverage is likely to dominate a lot of the time. We don't know what evil has happened, but we will investigate in the abnormal price mode.
I think it is closely related to the whole market, especially the stock market. There is a saying that pigs can fly when they stand on the air, and vice versa< in this instry, bitcoin is the top 1, and the leading tycoons have lost the key price. What's better for the younger brothers who follow him to beg for food and stay warm? Naturally, they are like dominoes
however, I think the high leverage trading risk provided by bitcoin to investors is really high, which itself allows investors to finance 10 times and 20 times. At one time, it even reached the super currency leverage of 50 times< therefore, in the event of such a death style short attack, investors will be in an awkward situation and face a dilemma of "fight left and right". Therefore, it is suggested to be more cautious when investing in such things strong>
