big marketcap coin like ETH Already pumping hard.It's already crossed $300+ level.
no that is not a pump, in fact in most cases that is a moderately big dump even if it doesn't look like it.
what happens is that whenever bitcoin price goes up, all these shitcoins like ETH have to do is to remain close to their previous value against bitcoin so that it looks like they are pumping.
for example if a shitcoin is worth 0.1
BTC and bitcoin is worth $100 that shitcoin is $10 and when bitcoin goes up to $120 and that shitcoin dumps down 10% to 0.09
BTC it shows a gain since it would be worth $10.8 but in reality it did dump.
in this scenario a pump would have been if it gained more than 20% to stay with bitcoin rise not lose -10%.I'm confused at what you're saying here, quick maths says that last week:
BTC +7.9% and ETH +30.3%. So ETH up 20+% against BTC. Coin go up.
So Ethereum did gain more than 20% than Bitcoin last week, not lose -10%?
when a project promises a lot of things that delivers the exact opposite, that project is garbage.
I'm not so convinced, I still think Lightning Network is pretty good to be honest, even if there's still a lot of hot air surrounding it.
Even if there's already a dozen shitcoin defi protocols with more liquidity, I like to look at the longer-term picture personally.