China's New Pump and Dump | IOTEX $IOTX | Quarkchain $QKC | Is this Fair????????

7,854 Views · Posted 6 years ago

IOTEX $IOTX and Quarkchain $QKC

--Is this the new China Pump and Dump?--
Today, I would like to discuss the new way projects are going about using this cryptocurrency hype to fill their pockets with sweet ICO gains, while leaving the crowd sale investors left with bags that dip way below ICO (initial coin offering) price, sometimes for the coin to never recover.

It goes like this, instead of having a regular ICO where 60-70 percent of the coins are sold in ICO and presale and then somewhat fairly distributed, these coins are having tiny ICO where only 20 percent to as low as 5 percent of coins are sold.
They take that money they raised, and instantly use 5 million of it to get listed on the Binance exchange. This of course generates hype and a significant boost in the price, while also giving them massive amounts of liquidity.

They then slowly offload their tokens held by the team, and receive 10x on what they would have raised if they had done a regular ICO.

Two coins who have begun to popularize this are IOTEX and Quarkchain.

Tune in as I go over how each of the projects are pulling this stunt!

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