$RIVER All internal transactions are conducted by the market maker's internal bots; all other non-internal trades are monitored by bots. The market maker employs high-frequency quantitative bots to repeatedly harvest, with each transaction amounting to less than an ant coin, executing tens of thousands of trades every 10 seconds. This results in ultra-strong market control, with fluctuations of only 0.0% or so, making it difficult to do T+0 trading. They control the coin price, go long on contracts, and steadily earn funding fees through a "pig slaughter" scheme, harvesting wave after wave. Trading volume remains high, and the market maker hasn't had enough yet. The market maker holds a large number of low-priced long contracts, using profits from funding fees to push up the coin price, which in turn allows them to collect even more funding fees. This way, they step on the gas with the left foot while the right foot is on the pedal, soaring into the sky. Anyway, over 95% of the coins on the market are in the hands of the market maker. Raising the price to dump is less effective than raising and stabilizing the price to steadily collect funding fees. From 15:00 on January 5 to 06:00 on January 6 (inclusive), the total funding rate was: 19.55%. In just 15 hours, nearly 20% of funding fees were collected, which is more profitable than dumping, and it’s sustainable profit. As long as the coins are being flipped back and forth in their hands, bots controlling the price can endlessly harvest. Careful observation shows that every major bearish candle, which is about to trigger a chain of forced liquidations, is always supported by buying power. Looking at the data, in the past day, all liquidations were shorts, with a loss rate of nearly 70%, while longs made huge profits. Because the behind-the-scenes market maker is actually long. From then on, countless "pig slaughter" schemes that earn funding fees will appear. Long positions, unless they have advance news to buy the dip, will be killed by sudden dips midway, handing their chips over to the market maker. As for shorts, it’s even more obvious—the market maker’s counterparty always loses money. Range-bound trading loses funding fees, and closing a position in a downtrend doesn’t earn enough to cover the funding fees. When prices rise, forced liquidations happen, and they are always under control.