The uptick in the lead-up to the airdrop snapshot and the subsequent sell-off is related to the “buy the rumor, sell the fact” trade often observed in stock markets and recently seen in bitcoin. The concept is based on the belief that market participants, being forward-looking, tend to buy an asset when expecting positive developments and take profit, driving the market lower on confirmation of the news.
OMG Tanks Over 25% as Exchanges See Record Inflows After BOBA Airdrop snapshot
