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Two of the most chaotic tokens of the year-motion laboratory-movement laboratories and the collapse of the mantras OM-Posses via the market companies Crypto.
In both cases, fast price accidents revealed hidden actors, dubious token unlocking, and alleged secondary agreements that blinded the market participants, and OM dropped by more than 90% within a few hours at the end of April without an apparent catalyst.
Unlike traditional finances where market creators provide a proper range of bid ASK in regulated places, the creators of the market crypto often act more as a high -share shop.
This is not just prices; They negotiate allocations before starting the token, accept blocking, structure liquidity for centralized exchanges, and sometimes take justice or consulting shares.
The result is a murky space where the provision of liquidity is involved in private stores, tokenomics and often dedicated policy.
AND Coindesk was exposed to At the end of April, some managers of movement laboratories agreed with their own market creator to throw up $ 38 million in the open market.
Now some companies are asking if they were too occasional in the credibility of the counterparty. How do you ensure a position where the plans are opaque? What happens if Handshake quietly suppresses DAO proposals?
“Our approach now includes extensive preliminary discussions and educational sessions with project teams to ensure that they will thoroughly understand the mechanics of market creation,” she said in an interview in the Hong Kong division on the market.
“Our trade structures have evolved to emphasize the long -term strategic alignment of short -term metrics and include specific guarantees against unethical behavior, such as excessive token and artificial trading volume,” he said.
Behind the scenes, the conversations are deepening. The trade conditions are more careful. Some liquidity tables reassess how they subscribe to the risk of tokens.
Others demand stricter transparency – or leave completely from dark projects.
“Projects no longer accept the prestigious reputation in the nominal value, as they have witnessed how even the introduced players can use shadow allocation or participate in the harmful sales token,” said the head of the ecosystem web3 Metalpha Max Sun. “The era of the assumed confidence has closed,” he said.
Under the polished surface announcement of the triggering of the token and an agreement on the creation of the market lies another layer of crypto financing-secondary OTC market, where locked chips quietly change their hands before hitting cliffs.
These shops under the table, often affected by early supporters, funds and syndicates, are now distinguishing the dynamics of offerings and discovering prices, some traders say. And for market creators, the task of providing proper liquidity is becoming an increasingly opaque and dangerous variable.
“The secondary market has changed the dynamics of the industry,” said min Jung, analyst PSESTO Research, who runs a market unit. “If you look at chips with a suspicious price action – such as $ layer, $ OM, $ movement and more – they are often the most active trading on the secondary OTC market.”
“The entire range of offer and development has been distorted because of these shops outside the market and for liquid funds is a real challenge to figure out when the offer will actually unlock,” Jung added.
On the market where the price of fiction and offer is, it is negotiated in the back rooms, the real risk is not volatility for traders – they believe that the float is what Whitepper and founders say.
Read more: Movement laboratories have secretly promised millions in tokens, the documents escaped show
