Most of you are still to uninformed... This is a liquidity grab.
152,025 traders were liquidated, the total liquidations comes in at $620.51 million.
All your leverage 50x or above uPNL wins are borrowed liquidity.
There's some truth in this but also some generalisation that means it's not the full picture.
I want to start with the individual (or the seller) - you have to be educated. You should know the value of what you want to sell, you should do your research, you should be prepared to negotiate.
Every time I see one of these threads it's like "oh you need to accept 80% from vendors" - no you don't. You have to have the knowledge and the ability to negotiate. If you don't think the price is fair, go to another vendor, negotiate harder, show data, understand your cards.
Now on the flip side of that, if you don't have knowledge, have no interest in learning the market, and just want to get your profit/money back for a card, then the 80% you receive is you paying for the vendor providing you with the pricing and giving you a SAFE selling source. Let's not forget that.
As a seller dealing with a vendor, you have trust and instant cash out. There are multiple sources to sell, eBay (with fees - and a significant disposition to siding with buyers in case of problems), FB Marketplace (meeting random people irl), and other marketplaces that incur similar options.
Sometimes selling to vendors or utilising a card show is simply a safer way of getting your cash, without any risk - especially in the current environment of card robberies.
Now on the vendor side. Vendors can absolutely be predatory, which highlights even more why you need to come in with knowledge. Some vendors will try to fleece you on %s, some vendors understand your cards may be significant and may want to offer far better prices to stock the cards.
Recently I had someone approach me with a card that I offered to buy at 110% of market value - the card was a very cool card, not super low pop, but I wanted to stock it.
All vendors are different, so cannot be tarnished with the same brush, but of course I won't ignore the fact that the OP is correct in some of the analysis for the way certain vendors operate.
What this comes down to is you have to come in armed with knowledge, a price, an understanding of the market, and an ability to negotiate.
If you don't, be prepared to accept lower to make up for your lack of knowledge or awareness.
And for some people the ability to sell a card they are multiple X's up on at an easy and safe location is worth taking a % decrease in the final payment.
@gnarleyjs@MagicEden Something is off with your info. I only have like 1k tokens (~$120 usd) staked and just claimed almost $2 usd in the latest award… it isn’t that bad imo