I am underwater with my wMEMO position and not selling.
I have some “hot” money that I just got out of a trade and I’m thinking of swing trading either wMEMO, on Sushi, or TIME, on trader joe to make back some of my losses.
The TIME price fluctuates between $750 and $850 roughly today.
Is anyone doing it, or is there anything to watch out for?
The money is on Fantom at the moment, so I’ll have to bridge it with anyswap. I haven’t done anything yet. I’m just thinking.
How is this good for Wonderland ?
I’m trying to make up some of my losses on Wonderland.
I’m not sure if this is bad, good, or neutral for the project. Buying at a low pumps the price. Selling higher up depresses it.
I see… Well, wouldn’t you be able to do it with wMEMO directly on FTM ?
I don’t think I could do anything on FTM.
BTW, did you notice that the buy/sell difference for wMEMO is 10% on Sushiswap? If you want to sell wMEMO you take a 10% hit compared to what purchasers pay.
On traderjoe the buy/sell difference is 3.5%.
What is going on? These are crazy spreads.
If you want to sell wMEMO, unwrap it and send it to gate.io where there is a better and cheaper market.
The prices for TIME and wMEMO are actually higher than reported on coingecko and similar sites.
Not looking at selling, so didnt notice haha… Would not have answer.
You are free to do whatever you like with your tokens
Me, personally I am holding and not swing trading.
I’m holding on to my tokens. What I’m talking about doing here is bringing in some more money to trade on the volatility of TIME/wMEMO.
But when I looked at the buy/sell spread I found that the market is a rip off. You are far better off turning your wMEMO into TIME and sending it to gate.io to trade.
It also looks like the low prices displayed on Coingecko are fake. At least, you can’t buy for anything near those prices.
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