Pudgy floor is crashing because of loans There are 550 leveraged loans on pudgies on blur, for context there are 215 loans for bayc When eth price crashes lenders pulling out is normal It’s important to always look at fundamentals, it’s usually not some rumour but Economics

It’s normal behaviour for people trade like this when something is hyped and anticipated Especially with abstract tge It is however wild behaviour to do this because their tge is somewhere in Q4 so buying this on blur is the craziest mistake Because unlike other lending platforms which are time based and fixed date payment plans , on blur the lender can pull liquidity anytime they want. Giving a 24 liquidation window if someone doesn’t step in or u dnt buy it u loose it Which is like trading 50x leverage