What are crypto pumps?

Crypto pumps are an artificial increase in demand for cryptocurrency, which is carried out by buying assets by a group of individuals. Pump groups, which usually create private chats to discuss their plans, choose an asset, and start an organized bulk purchase of it. After that, active advertising begins with the aim of selling the asset at inflated prices to crypto “hamsters”. A massive sale causes a rapid fall in the rate, which provokes a crypto dump.