ᐅ dump in cryptocurrencies: what it is and ⚡ how pump schemes work

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Dump (dump) – what is it in cryptocurrencies?

Dump (dump) – what is it in cryptocurrencies?

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Pump and dump – favorite manipulations of scammers to deceive beginners.

Dump (dump) – is a decrease in exchange rates due to a large number of sell orders.

Pump and dump – favorite manipulations of scammers to deceive beginners. These concepts are interconnected, as there is a clear sequence of actions. Initially, a group of traders organizes a pump of some fork, artificially increasing its rate, i.e., arranging a pump. As soon as the price seems sufficient to the scammers, they gradually start selling their assets. These actions trigger panic among traders, and they begin selling their assets. As a result, the rate collapses sharply, and a dump occurs.

The same scheme can work in reverse. Scammers may initially use a dump, crashing the currency rate through a large number of orders, and then start buying assets at a low price. It all ends with a pump, and in the end, the traders (scammers) come out on top as they make colossal profits.