Veteran Bearish Coins Resurge with "Phoenix from the Ashes" Moment, Speculative Active Liquidity Providers May Be the Driving Force

BlockBeats News, April 25th. Recently, the old-time favorite coin experienced a round of surge amid a downtrend, with APE achieving a miraculous overnight doubling in price without any positive news. Of note, on-chain analysts quickly discovered suspected whale manipulation behavior, with a user profiting 14x overnight on APE by precise contract manipulation with only $170,000.

Various signs indicate a highly convergent trading strategy in such market conditions, with whales taking advantage of a prolonged bearish token to profit significantly in the futures market through funding rates and drastic price swings.

According to crypto influencer CryptoFearless, during the recent Hong Kong conference, a market maker named HSBG became a hot topic, as this market maker generated over $1.2 billion in profits solely by trading one project, RIVER. It is reported that this market maker's influence on project teams rivals that of centralized exchanges (CEXs), enabling them to even manipulate token unlock schedules.

As of the time of writing, including AXS and HYPER, several coins are still experiencing a rotation-driven surge. BlockBeats believes that participating in such market conditions is akin to "courting disaster," with high risks involved. Users are advised to exercise extreme caution and control their positions should they choose to participate.