Why the Big Sell-Off of HIVE? See the trail below:
So who is @hot.dunamu? I have seen on a Twitter post by @therealwolf4 that this account is associated with Upbit:
Dunamu is apparently the parent company of UpBit.
So let us look at what @hot.dunamu is doing with their substantial holding:
Just looking back in the past 24 hours there has been transfers of over 400,000 HIVE to @probithive. In just the past 10 hours this account has sent almost 500,000 HIVE and almost 50,000 HBD directly to Bittrex. Along with other transfers to individual, Blocktrades, and Ionomy.
So where did all this accumulation come from, one might ask. The wallet tells that tale as well for some substantial deposits in the past 24 hours after another large deposit 18 days ago:
And you might also wonder what @probithive did with all these transfers. Again, the wallet shows up - more transfers! to @probitred and @probitblue.
@probitred has been busy transferring its newfound wealth to - you guessed it - Bittrex! To the tune of over 207,000 HIVE. So why send this HIVE round and round the mulberry bush, just to end up on Bittrex crashing our market?
That, my fellow Hive community members is the $63K dollar question.
Why?? Who is behind this?
There is also a substantial amount of distribution to a long list of what look like individual accounts (although @bunbury33 is a big winner here) about 12 hours ago. This is just a clip out of the middle of multiple transactions - you can see the entirety for yourself by visiting the wallet transactions:
I just wish my current power down of STEEM, which won't hit my wallet for another 4 days, was available NOW, so I could take advantage of this market crash. Someone else is obviously planning on doing that in a BIG way, I just hope it's not for nefarious purposes.
#posh link to Twitter post
If this is more exchange collusion with Justin Sun, then some kind of legal action should be initiated. I wouldn't think such collusion would actually be legal anywhere.
I saw this last night and raised an eyebrow. Then, after raising said eyebrow, I wished my powerdown happened at that time instead of tomorrow afternoon. 😉
A lot of talk in the Hive Discord about Korean exchanges and them being highly untrustworthy... dumping airdropped tokens and giving users an equivalent of another korean coin instead, etc.
I think it's all to be expected though. The price is going to fluctuate wiiiildly for a while. I like it; I can actually afford to buy small chunks at this level!
Yeah, I'm also looking to buy HIVE in a few days and suspect the low price won't be available still then. So funny to me that people dislike low prices. I guess if I was selling I might see it like that. Me, I like low prices because I'm buying and then holding for at least a year. The concern more is with who buys huge stakes at these deflated prices and how do they then use it to affect the community?
Very good information, thanks for this. I saw the big drop and bought some HIVE at a great price. But I also had bought some at the higher recent prices, so this just moves my average cost down. This does make me think we can expect further volatility so everyone fasten your seatbelts, it might be a bumpy ride!
I bought about 500 HIVE myself today, but I wish I had more of my powering down STEEM available at the moment. Definitely some shady dealings going on but might as well take advantage of the lower price.
Interesting finding!
@tipu curate
Upvoted 👌 (Mana: 7/28)
It's all a temporary thing, when they dump it all, then the fluctuations are all over and done with as far as the "airdrop" goes.
This was all predictable and actually helps in the long run, as that HIVE was purchased by various different people from around the world (presumption). Hence adding to the decentralization of the DPoS ecosystem here.
Nothing bad in it, all going as predicted.
I myself am thinking that it is possible that not enough of the 'ninja stake' was ID'ed and removed from the airdrop...
OKAYBEE, I think I like this post-age but before I vote you up with lots of NEOXAG, Can you draw any conclusions? I am thinking these accounts have links back to someone in league with the Justin Sun Gang?
I tend to stay out of the politics of Steem, so I might be missing some of the implications here...
Voted the post up 100% but bonus points for a reply ;)
I fully believe it was a huge dump of the free HIVE given to Justin Sun supporters. Anyone has the right to sell off their stake if they don't wish to participate in HIVE. But the fact of all the huge amounts being bounced to all those alt accounts, and then dumped to Bittrex. Why all the subterfuge? But like someone else pointed out, we are probably better off with those STEEM lovers dumping their HIVE and letting us believers buy it up cheap and decentralize it to the masses who want to be a part of HIVE. I've benefited by selling off my powered down STEEM and buying HIVE at the cheaper price!
Excellent analysis!
Makes a lot of sense...
check out my voting input on the neoxian.city site, that is where it really shines!