Trading share strategy to fight manipulators in NFT Marketplace by CoinEdition

• Manipulators typically engage in multiple bids, increasing prices over a short period of time.
• They rig the market to attract unsuspecting bidders on whom they would dump inflated NFTs.
• SD identifies @9082D2, ranked 5th on the BLUR NFT leaderboard as a manipulator.

A renowned NFT trader with the Twitter handle @nfexdragon used the social media platform to educate other traders in identifying manipulators in the BLUR NFT market. In one thread, the trader, also known as SD, noted that manipulators typically engage in multiple bids, increasing prices over a short period of time and attracting other unsuspecting bidders in an illegal practice called spoofing.

SD identified a manipulator ranking 5th on the BLUR NFT leaderboard, with ID @9082D2. According to SD, manipulators like @9082D2 typically bid on pools of over 30-80 items, increasing bids to large amounts to entice other traders. After attracting unsuspecting bidders, traders like @9082D2 would sell the lot in one fell swoop, leaving the other bidders with inflated NFTs.

The realization of a change in price dynamics will force unsuspecting bidders to sell the bags at a loss. The impact of this sale will reverberate across the market, transferring the manipulated NFTs to many rounds of bidders, all of whom will share in the loss until prices stabilize and the manipulators will repeat the cycle.

SD instructed his followers not to participate in bids where the buyers were unknown. It’s a trick to avoid falling victim to market manipulators. He also advised those who might want to profit from the activities of the manipulators to pay attention when they start buying. At such moments, SD advised traders to buy with them before the prices are pumped and sell to them while the fake buying is going on.

SD also noted that buying after a round of dumping is a good strategy, because during such periods the dumped NFTs are usually oversold, costing much lower than their actual value.

According to SD, the main goal of his education is not to promote spoofing, but to encourage the larger community to fight against manipulators. He believes that his approach will make the manipulators victims of their schemes and dissuade them from distorting the NFT market.

The post Trader Shares Strategy to Fight Manipulators in NFT Marketplace appeared first on Coin Edition.

See the original at CoinEdition

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