Lookonchain
Lookonchain

@lookonchain

5 Tweets 7 reads Oct 07, 2023
This address has been making money by taking advantage of $LINK price fluctuations.
1๐Ÿงต
Let's learn his strategy.
Address: 0xecded8b1c603cf21299835f1dfbe37f10f2a29af
2/
Over the past year, the price of $LINK has been fluctuating between $5 and $9.
SmartMoney noticed these fluctuations and started buying $LINK( or long $LINK) when it was at $6, and waiting for it to rise to $8 to sell( or short).
3/
So how does the address we shared use $LINK price fluctuations to trade?
The address withdrew $LINK from #Compound and sold on July 21 when the price of $LINK rose above $8.
Then shorted $LINK before the price of $LINK dropped on Aug 10 (borrow $LINK from #Aave and sell).
4/
When the price rose above $8 on October 1, this address withdrew $LINK from #Compound and sold it.
At the same time, this address also shorted $LINK by borrowing $LINK from #Aave to sell.
5/
Trading on price fluctuations is a great strategy, but be careful to leave enough margin on your positions.
Be patient and avoid #FOMO.
Follow @lookonchain and turn on notifications, or join our telegram group to receive alpha information.
t.me

Loading suggestions...