Number of Ethereum whales has greatly increased – suspicion of manipulation!

There is an influx of new ETH-whales, while some of the ETH-whales manipulate the market, so Adam Cochran, a Partner at the decentralized Autonomous organization, a meta-cartel Ventures.

Cochran explains in his first of several announced to Reports that he had examined the 10,000 most important Ethereum addresses manually, to learn something about the liquidity, profitability, and market manipulation. Here are some of his results are.

1. There are more new whales in the area, which now constitute about 6% of the 10,000 addresses. Among these top addresses a “significant” number of them their first transaction in connection with the Fiat-exchanges, such as Gemini, Kraken and Coinbase. had These new addresses are bought often ETH in the value of 100,000-250,000 USD, i.e., there was a total of around 100 million USD at the new ETH-purchases in the last six months. Together with the “old” whales, the number increased to over 650 million USD, says Cochran. According to recent Reports, the Grayscale Ethereum Trust bought, based on a Reddit post, this year of all mined ethers of the half.

2. A group of at least 12 whales seems to manipulate the market, and the author says that this happens “in coordination” with the crypto-Exchange Bitfinex and may BitMEX. According to the report, there is first an increase in the number of persons, make short sales with the ETH, where they usually start with BitFinex, then BitMEX, and then with other exchanges. These whales to catch, to send over a couple of days transactions in the same batch of Bitfinex, Coinbase, Kraken, Bitstamp, and Bitflyer, by repeated small transactions, which would not be noticed by systems such as Whale Alerts, and, finally, “all at once, dump in the market. You benefit from their giant Shorts and buy back at a lower price“. The Batch-transactions, then go back to your addresses. Sometimes you need more than two weeks to migrate their ETH back, but always with a profit. In General, these Wallets still buy 4-6 weeks after your unloading new ETH.

3. The miners have started hoarding. In the same period in the last 6 months, have accumulated the Miner 1.15 million ETH, which are currently around $ 240 million in value. Only about 20% of the Miner hoarding, but you do this “on the aggressive level.” Probably, however, is that the ETH Miner to prepare in view of the forthcoming Phase 0 of Ethereum 2.0, the Mining and convert it to a Staking operation, which will reduce according to Cochran, the cost. On the other hand, there are miners that continue to sell strongly, which could mean that they will operate no Staking, and it could also mean that about 80% of the miners will switch to other Proof-of-Work block chains, as soon as Ethereum Proof-of-Stake transitions and the “could be great for the little brother of ETH, ETC,”. One way or the other, so Cochran, “the profit-hungry miners are optimistic about the future of the ETH”.

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This is strange because miners have hard costs to cover in their mining operations as they very rarely ever horde any ETH at all.

We’ve never seen such a rapid increase in miners hording on ETH. Ever. pic.twitter.com/QvsL76x2vV

— Adam Cochran (@Adam Cochran) April 29, 2020

4. The foreign Exchange deposits grew in the last six months, CA. five-fold, from 11,000 per day to >55,000 per day. This tends to be the early indicator of a bear market or a mass closeout, writes Cochran, as the last three times have been such a increase of 4-5 times, would show. This Time, however, the price of the ETH increased despite the increase in Volume. “The market is showing a very positive mood,” says Cochran.

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