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Indeed this is what’s happening with TRXC i believe. Someone buys any amount, making someone else think that the coin is reviving (most probably, bots will pick the coin up), then selling when someone else (or bots as i stated) is willing to buy at a higher price than the one they bought (keep in mind that the price is minuscule, talking about $0.000000xx dollars per coin, so even 5$ are enough to move the price by gigantic percentages). That was the first case, pump and dumps. The second is that when someone is willing to buy any amount at any price, whoever is holding most of the TRXC will fulfill the buy order immediately, so, dumping their own coins. DeFi is a beautiful place if used properly by everyone, but people are too greedy to use it correctly unfortunately
Benefits: No middlemens. This means that you are the true owner of your money, no banks, no instituions, no taxes involved. If you will, you can give a fuck to everyone and anything and do whatever you want. Negatives: No laws. This means far west, like literally. If someone wants to manipulate the market, they can do it, without being accountable for anything. If some whale wants to push the price of a coin to 0 by dumping everything they have or just by paying various entities to make bad publicity, they can and most probably will do it if it’s for their own interest. Also, scams everywhere. In an unregulated market, everyone can do anything, this means that someone can create a project, even go ahead for various years with the development, then decide to dump their own coins and discontinue said project. This will result in them banking a shit ton of money and people left with literally 0$. If you want a good example of how a manipulated market looks, look up at TRXC on coinmarketcap. Gimme a min and i’ll share the link
TRXC is my favorite shitcoin at the moment
Didn't listen watching my TRXC moon
U guys need to get on the TRXC train.