Jiang Zhuoer Calls ZEC a Pump-and-Dump Coin, Will Not Participate in Trading

On September 20, Jiang Zhuoer, the founder of the Liebit mining pool, stated that after ZEC fell to $1,445, agent Garrett Jin shorted ZEC and faced market skepticism, possibly creating a counterparty to attract retail investors to go long. With the disappearance of the large spot holdings he showcased as a "target," the approximately 200,000 ZEC he holds (about 1% of the total supply) may become a potential selling pressure, leading to the judgment that the current ZEC rally may be nearing its end. Jiang Zhuoer indicated that in the face of such a "pump-and-dump coin," there is an information disadvantage compared to the counterparty, and therefore he will not participate in trading.

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