hello dear friend hope you all are fine .
today i just talking with myself about new project of crypto , at launching their projects they promise big and big
but after months or even some projects in a days go down and did not comes up ...
why this happens ?
share your thoughts .
Generally, new projects are usually volatile. It takes time before volatility reduces. There are other factors that are responsible for dump of new projects, this encompasses:
- When project isn't built on strong foundation and shill without real use case.
- Bad news aren't good for altcoins especially when there is hack attempts and bug on smart contracts, it has happened to many DeFi projects like Yam, Kimchi and Sushiswap
- Bitcoin dump always has negative impact on altcoins generally, this has always been the culture of the market. We hope things change in the future.
- Sell off, some investors especially early ones tend to take profits and move to another one.
- Whales games and manipulation, they shake the weak hands and buy at the bottom hoping to sell at the top.