Got to say, tonight's moves by Ersheng + MMT did ease the market's completely pessimistic vibe a little. There’s already been plenty of commentary on Ersheng, so I won’t go into that. As for @MMTFinance, this wave of not opening trading and directly tanking below the issue price, then pulling off a short squeeze, is definitely worth talking about. First, they announced that only those who don’t withdraw from buildpad can enjoy the break-even protection for the issue price, instantly locking up a large amount of chips that would’ve otherwise been dumped onto the market right away. This made it easier to focus firepower on Binance to absorb the first wave of selling pressure at launch. Second, they’ve been holding all withdrawal requests from buildpad, preventing additional selling pressure before the Upbit launch. At least so far, no one around me has successfully withdrawn . That’s why MMT could go from 0.3 with full negative funding rates all the way up to 0.45. Haven’t seen a new coin short squeeze like this in ages. Most likely, they’re saving the suspense for the 9:30 PM Upbit launch. If the Koreans come through, there could be another wave of pumping. If not, they’ll probably have to release the tokens, right? Can’t keep them pending forever. Even though it’s a bit of a cheeky move, I personally don’t oppose it. After all, if even @buidlpad’s grand slam launches end up below issue price, and only the bears are making money in the market, then things would really be over.