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An interesting observation. Suppose the Shenzhen richest person's driver account belongs to a market maker or an insider position; then the logic makes sense. We've all dreamed of bottom fishing, but in the end, a 50U Ant position gets tortured by endless declines, while someone opening a 700K position can walk away unscathed? That doesn't seem right.
Looking at the mysterious Xiao K's operations. After experiencing MYX and COAI, he understood the trick of negative fee rates—profits and losses are clearly disproportionate. If Xiao K is an actor hired by the market maker, then it all makes sense: he opens short positions at key points, and the market maker repeatedly hits his cost price. Instead of fleeing, he adds to his position, even ignoring fee issues. This pattern makes perfect sense.
Just yesterday or today, after topping up his margin, PIPPIN surged. Connecting all these phenomena, every move Xiao K makes can be explained. This is the market's flavor.