markets solana FTX Pump and Dump

Serum price soars 140% in one week amid FTX 'exit pump' fears

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cointelegraph.com

Serum, a "decentralized exchange" on the Solana blockchain, has performed exceptionally well in terms of its SRM token price, despite it ties to the defunct FTX exchange.On the daily chart, the SRM/USD pair has gained 140% in the last seven days, hitting $0.319 on Nov.

21 versus $0.177 on Nov. 14. This pushed the circulating market cap to about $73 million and "fully diluted market cap," the market cap if the maximum supply was in circulation, to nearly $2.8 billion.SRM price rallied despite the ongoing delisting of Serum trading pairs across major cryptocurrency exchanges, including Binance, OKEx, Gate.io, and Phemex, thus raising fears about an ongoing "exit pump."Exit pumps are when large investors pump the token's price in a low-liquidity environment to attract new buyers, only to then dump their entire holdings on amateur investors as witnessed with numerous pump-and-dump schemes.Hahah.

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