PIPPIN shot up to 0.48 this morning, and the story behind this market movement is interesting. A mysterious Large Investor suddenly poured in over 6 million U in Margin, directly confronting the market maker. What exactly is going on here? Is it to prevent a market manipulator from stealing, or is there another purpose?

Thinking carefully, the market maker is also having a tough time. To maintain the market, continuous capital input is required, and this is not a small amount. On the other hand, Large Investors have to spend a lot of money just on capital fees every day. Who can afford this kind of war of attrition?

Interestingly, this situation is likely to turn into a lose-lose scenario. Once the situation reverses, retail investors might actually benefit from it. In the history of the crypto world, this is indeed rare. Because what is usually the case? Market makers and large investors team up to harvest the retail investors. But this time it’s different – they have turned from a union into a confrontation.

This is the charm of the market. The level of capital games often allows us to see some things that we usually don't notice. How will it proceed? We need to continue observing.