$ICP ranking in CMC has fallen again, currently at 52nd place

Next goal: top 100 :rofl:

ICP top 3 by 2069, mark my words

Hold extra stable coins for drop under 2 usd. Sorry to say but there are idiots whos liquidation price is 1.5usd.

wake me up when it’s over.

People are selling theyr spot bags and open long positions to save investments. But with falling price they get liquidated and lose everything. ICP token is as valuable as people make it, so far its worth almost nothing. Might change when burn picks up.

Drop below $2 and we’re entering the death spiral. hope the Foundation doesn’t let that happen.

that doesnt even make sense. whatever im staked, don’t matter.

why not $1??

How not, whale buys 1mil usd worth at 10 usd. Price dumps to 2 usd, He sells all ICP that is only 200k usd worth and open x2 long position. Now only 2.5x is needed to get back the money he put in, if price goes back to 10, he made profit. Lets say price dumps instead to 1 usd, he loses entire position, but has 1 mil usd spot buy order at 1. Now he only need to get to 2 usd to get 1 mil back he spent, if price goes to 4, good job, 2 mil profit.

Dumb people dont have money so they try same thing, but no spot buy order below. And they lose everything.

I meant it doesnt make sense if you dont have the capitol and a complex risk management strategy.

Its basically like losing a coin flip and then saying “double or nothing” and as you illustrated most people end up with nothing.