The Binance Launchpad for EDU came and went yesterday, and as usual I was there for that initial listing chaos... ready to dump into the chop, make back the initial commitment of BNB, take profit, and then sit back and see what would happen.

Normally, you can expect a pretty huge spike and crazy volatility in that first 5 minutes or so, followed by a slow decline over the next day or two as more and more people dump into the inflated prices. Those people generally being the ones who picked up pre-listing allocations as developers, early investors, and community members... and the Binance Launchpad participants.

I mean, with a Launchpad purchase price of 0.05 USD in BNB, well... you would be a fool not to offload at LEAST enough to cover your initial outlay!

Anyway, I dumped about 25 percent of my allocation straight into the first few minutes of chop in about 10 chunks which landed me prices around 1.0-1.2 USD per token. That was more than enough to cover the initial subscription and then some... then I went to work setting limit orders gridded as high as I could go... but as I was doing that, I was a little bit surprised to see them keep triggering!

So, as you can see on the zoomed-in 15 minute timescale of the EDU/TUSD chart... well, EDU seems to be defying the listing dumpers! Weird...

.. and if you are asking why I'm using the unusual pairing against TUSD, well, I am currently using TUSD to take part in the Launchpool for Radiant (RDNT) which is the other accepted token in addition to BNB. Currently TUSD is the replacement for BUSD, but I'm not sure that I would trust it long term.

Well... this might be the reason... there is something or something putting up a comparatively gigantic buy wall to backstop the price. I'm wonder if it is there out of conviction, or to hold up the price in order to pump and dump? In any case, I'm not really going to stick around to find out... as I had mentioned before, I'm not really keen on the project and will only keep the smallest of moonbags for this in case I'm wrong on a price front. I will stick to my strategy, keep my limit sells in place, and keep my buy grid in place at the 0.25-0.5 region.

... zooming out a bit further on the depth chart does really make it look like that the price is backstopped a few more times on the way down. I'm really curious about that... I didn't think that this token was really worth that much, but as always, I could be wrong... but I'm happy, I have taken a profit and will leave things as they are. Sure, I probably could have made more... or I could have made less if it had gone the other way.

... but I'm going to keep following it for a few more weeks and months once the limelight is gone from the listing and Launchpad. I do want to see if my intuition was in line with what the market (or at least the movers and shakers..) thought...

I can also be found cross-posting at:
Hive
Steem
Publish0x

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