Exit Liquidity
Buyers who purchase at high prices, letting earlier insiders sell out at a profit.
Every seller needs a buyer. When early investors or scheme operators want to cash out a large position, they need fresh money flowing in to absorb it without crashing the price. Those late buyers are the exit liquidity.
The term is almost always an insult. If you're buying the top of a pump while insiders dump, you are the exit liquidity. Pump-and-dumps and rug pulls run on it.
Related terms
A scheme that inflates a coin's price with coordinated hype, then sells into the buying for profit.
Rug PullA scam where a project's creators drain its funds or dump their tokens, leaving investors with worthless holdings.
Bag HolderAn investor stuck holding a token that has collapsed in value, with little hope of recovery.
Wash TradingFaking activity by repeatedly buying and selling the same asset to inflate volume or price.