What is Undercutting?
The practice of pricing an item to sell lower than the lowest available in the market in an attempt to sell quickly.
All the paper hands undercutting each other is driving down floor prices in the market.
Undercutting is the practice of selling something lower than the floor price (sometimes significantly) in order to drive a quick sale.
On drop days, prices often start out high when the FOMO is the highest and delivery is low, but then drops lower and lower as sellers undercut each other in an attempt to sell their collectible while there is still demand.
Many longterm hodlers of collectibles disparge undercutting because it lowers the floor value of their collectibles and it can also be a frustrating experience to constantly get undercut by other users while you are trying to sell a collectible.
Nevertheless, undercutting is a legitimate way of trying to stand out in the marketplace and get a sale.