Written by: Fairy, ChainCatcher

A hidden and efficient trading game was staged on the weekend.

In just a few weeks, an unknown entity acquired more than 20% of the total supply of AUCTION, driving trading volume to soar, holdings to grow, and CVD continued to rise. Everything seems to be a strong market dominated by bulls. However, behind this, the "banker" is shipping accurately without hesitation.

The token price has emerged from the "Christmas Tree" market, which seems to be rising steadily, but in fact it has hidden murderous intent. What kind of trading layout is this? How can "bankmakers" complete large-scale shipments in a situation where "seemingly bulls dominate"? This article will deeply analyze the truth about this trading layout.

AUCTION Market dynamics: The trajectory of giant whale trading emerges

AUCTION is the governance token of Bounce Brand. Bounce is a decentralized auction platform that integrates liquidity mining, decentralized governance and pledge mechanisms.

Last night, Bounce Brand issued a statement clarifying that the team was not involved in AUCTION price manipulation and disclosed a series of market dynamics:

In the past few weeks, an unknown entity has acquired more than 20% of the total AUCTION supply.

AUCTION trading volume has risen sharply on major exchanges, and the AUCTION futures trading pair on Binance became the third largest trading pair after BTC and ETH. AUCTION spot trading volume on Upbit surpassed BTC for many consecutive days.

Upbit's AUCTION trading price showed a significant premium, and a large number of AUCTIONs were withdrawn from mainstream exchanges for arbitrage trading.

In addition, market liquidity has also shown a significant imbalance, showing a series of unhealthy conditions:

Binance hot wallet positions have plummeted, and currently only less than 10% of the total supply of AUCTION.

The annualized lending rate exceeds 80%, and the capital fee rate remains at -2% over multiple cycles.

Main exchanges adjust position restrictions and risk control measures for AUCTION perpetual contracts.

According to the monitoring data of Embers, we have sorted out the recent key operation trajectory and changes in the currency price of AUCTION giant whale:

From the Giant Whale's series of capital mobilizations and market abnormalities, the price trend of AUCTION is not a simple capital promotion, and there is a more complex trading layout behind it.

Hidden shipment technique: "passive selling order" trading strategy

In the process of AUCTION plunge, market data showed a seemingly contradictory signal: CVD (accumulative trading volume increment) continued to rise, capital rates continued to rise, and position volume also increased. According to conventional logic, when CVD rises and positions increase, it usually means that a large number of active buy orders are pouring in in the market, and the price should rise. However, the price of AUCTION has been falling all the way, showing a clear market divergence.

According to the analysis of encrypted KOL Biupa-TZC, AUCTION's "banking maker" adopted an extremely hidden "passive selling order" shipment strategy, completing large-scale shipments in a seemingly bull-dominated market.

1. Put a huge number of passive selling orders

"The dealer" keeps placing super large passive selling orders at the market close to the market price, so that the active buying orders can be caught up and completed the transaction.

Because spot stock is mainly controlled by the "market maker", there are almost no active selling orders in the market. The calculation method of CVD is to minus the volume of active buying orders minus the volume of active selling orders. In the absence of active selling orders, CVD continues to rise, but the price is always under pressure.

2. Create the illusion of "strong price"

"Business makers" avoid actively smashing the market, but make it seem like they are buying in the market, creating the illusion of the market rising for investors.

As CVD continues to rise and the holdings are also increasing, retail investors mistakenly believe that funds are actively pouring in, so they may actively go long or buy at the bottom.

3. Gradually absorb market buying and complete shipment

"The dealer" will eat up the active buying orders one by one by one by continuously placing new passive selling orders.

Whenever active buying strikes passive selling orders, a brief liquidity vacuum appears in the market, and the "market maker" adjusts the selling orders downward again, causing the price to gradually fall.

Due to the large trading volume, these sell orders are not just a price reduction, but are really selling, which ultimately leads to a plunge in the AUCTION price.

The trading game ended, and the market alarm bell rang. This sharp rise and fall of AUCTION was behind the carefully planned capital allocation and trading layout by the "market maker". Although Bounce Brand has provided liquidity support on several exchanges to stabilize market liquidity and locked in about 1.5 million AUCTIONs, this incident still exposed the hidden risks and complexities in the crypto market.

For ordinary investors, this is a profound lesson: in the face of high volatility assets, blind signal trading will only become a bargaining chip for "market makers". Only by staying alert and deeply analyzing market trends can we be invincible in the changing trading market.