11-25-2019 – DATA and NAV pump on Binance.
Every few days, 200,000 strangers come together online to buy little-known cryptocurrencies, also known as altcoins, at exactly 2 p.m. Eastern time. Then, anywhere from 30 to 120 seconds later, they sell them en masse. The members of the Discord group, Big Pump Signal (Source: https://discord.gg/RFYuhZb), buy and sell at the right time and make out like bandits.
The pump group ethos is simple: Buy low, sell high. The implication is that investors outside the pump group will see the rapidly rising price and rush to buy in, anxious not to miss the next Bitcoin-style gold rush just like today, with the NAV and DATA pump.
In most established groups, the pumping process itself is surprisingly well-organized. Group leaders provide specific instructions to their members that include the exact time a pump will occur (translated into multiple time zones), what exchange the pump will take place on, what the “target” inflation price is and a number of other helpful tips and tricks.
On January 13, Big Pump Signal announced the pump of the day would be GVT, a four-month-old Russia-based altcoin created by an apparently product-less company called Genesis Vision. All of Big Pump Signal’s take place on the cryptocurrency exchange Binance.
Thirty-four seconds before the pump signal was given for GVT in the general chat room, the coin was trading for approximately $29.22, according to data collected by CoinMarketCap. Almost immediately afterwards, it began to rise in value. Four minutes and 16 seconds after the pump signal, it was at $35.05, and at nine minutes and 16 seconds post-pump-signal it had reached its peak at $45.41. Anyone who invested immediately and dumped right at the peak could have potentially earned a 55.51 percent return on their investment. In other words, if a participant invested the equivalent of $1,000 immediately after the signal dropped and happened to randomly guess when the peak would be and sold exactly then, they would have made $1,555.10
Today, November 25, they pumped NAV and DATA. They announced the DATA pump at exactly 11:53 PM (GMT +1) after which it soared up with 450%.
The members of the group Big pump signal, got out at the top while outsiders were FOMOing in.