Sweeping the floor refers to the practice of buying up lower-priced assets or tokens in a particular market, often aiming to consolidate ownership of them. This strategy can help create a sense of scarcity, potentially driving up prices as demand exceeds supply.In the context of NFTs, for example, this might involve purchasing multiple tokens from a specific collection that are priced lower than their perceived value. By increasing the number of assets one holds, the collector can impact market sentiment and influence pricing trends.This tactic is often seen during periods of low demand, where prices may dip. Traders who sweep the floor aim to take advantage of these conditions, believing that the value of the assets will rise again. It can be a speculative move, involving both risk and reward, as the success of the strategy relies on market trends and sentiment shifts. Ultimately, sweeping the floor is about capitalizing on perceived value disparity while aiming to create a more favorable market position.
Avalanche Treasury Co. to Go Public in $675M Deal With Mountain Lake Acquisition
Avalanche Treasury Co. (AVAT), a digital asset treasury company aligned with the Avalanche Foundation, said Wednesday it has agreed to