Everyone’s favorite crypto exchange – YoBit – has been pumping and dumping tokens since the day it went live. It has never attempted to legitimize itself and become a top-tier cryptocurrency exchange, but that’s why we love it so much – it’s this fun and wild party animal. Back in October 2018, YoBit openly admitted to pumping and dumping tokens, and was heralded as the king of pump and dumps. While it’s stopped publicizing these pump and dumps, tokens are still shooting up to the moon and falling back down to earth with a big thud over on YoBit.
Huge Pumps Followed by Huge Dumps
If you like the sound of 280% gains – and sometimes an awful lot more – you’re going to want to head over to YoBit and play the pump and dump game. Earlier this week, YoBit led the charge on SocialCoin, causing it to pump by more than 300% at its peak. YoBit’s massive buy volume of the token caused a buying frenzy on exchanges all around the globe, helping the token outperform the entire crypto market. However, as traders look to cash out and take profits, the market sentiment for the token moved to a sell position, forcing the token to start looking like a mega dump.
Letting You Take Part
YoBit launched its famous pump timer to let you take part in the fun and games. While it’s not advised that you take part in these elaborate practices, many traders decided to ignore the warnings and play anyway. A lucky few were rewarded with 1000% gains, while the majority got burnt, left holding a worthless token. Crypto is still a haven for pump and dump groups, with 2018 being a popular year for pump and dumpers.
Trying Out the IEO Hype
Everyone knows that IEOs are the next big thing in crypto, and YoBit isn’t missing out on the action. It’s launching an IEO every week and is giving users tips on how to maximize profit early on. YoBit has added an IEO timer to allow traders to plan their day around the next IEO launch. As well as this, YoBit has set up buy limits, buy walls and an InvestBox plan. With the latest IEO, YoBit is giving investors 7% returns with its InvestBox plan – pretty decent going.
New Yobit IEO (ICO) in 117 hrs!
ICO coins: 49,900,000
ICO price: 0.00000100 (100 sat)
ICO amount: 49.9 btc
– 100% buy wall
– InvestBox Plan – 7% / day
— Yobit.Net (@YobitExchange) April 25, 2019
YoBit is still the king of the pump and dump world and isn’t to be taken seriously. If you’re taking part in any of the YoBit IEOs or pump and dumps, be very careful as it’s an unregulated exchange and one wrong move will leave you holding a pile of worthless tokens! You’ve been warned.