Entity: CRYPTOPUMPS
CRYPTOPUMPS refer to a type of market manipulation in the cryptocurrency world where a group artificially inflates the price of a cryptocurrency by buying a large amount of it at the same time, leading to a rapid increase in value followed by a sharp decline.
CRYPTOPUMPS
Etymology
The term 'CRYPTOPUMPS' combines 'crypto' from cryptocurrency and 'pumps' referring to the action of inflating the price of a digital asset.
Definition
CRYPTOPUMPS are a form of market manipulation in the cryptocurrency space where the price of a digital asset is artificially inflated through coordinated buying, resulting in a rapid price increase followed by a significant drop.
Historical Context
CRYPTOPUMPS have been a common occurrence in the cryptocurrency market, often associated with pump and dump schemes where the value of a token is artificially inflated to attract participants, only to be sold off causing the price to crash.
Cultural Significance
CRYPTOPUMPS have raised concerns about market integrity and investor protection, leading to regulatory scrutiny and efforts to combat such manipulative practices in the cryptocurrency space.
Related Concepts
- Pump and Dump
- Market Manipulation
- Whales
See Also
CRYPTOPUMPS are a form of market manipulation in the cryptocurrency space where the price of a digital asset is artificially inflated through coordinated buying, resulting in a rapid price increase followed by a significant drop.