COINOTAG reported on November 25th that following the recent launch of Binance perpetual contracts for 1000WHYUSDT and 1000CHEEMSUSDT, market insiders have been urged to exercise caution in their selling activities. The abrupt decline in the prices of WHY and CHEEMS has translated to a staggering 100% loss for many traders, raising significant concerns regarding trading sentiment within the crypto community. This downturn highlights the critical impact that insider trading behaviors can have on market dynamics.
The tumult surrounding the launch of these contracts has ignited fervent discussions among stakeholders, emphasizing the need for a more robust trading framework. The immediate and adverse effects on crypto asset valuations showcase the volatility that permeates this market. As Binance continues to roll out new contracts, the call for a more tempered approach to selling among early participants has become increasingly relevant to maintain a more stable trading environment.