Whales still hold large amounts of $CHZ.
🟢 Whales = 67% (6.0B CHZ)
🔵 Investors = 16% (1.4B CHZ)
🟡 Retail = 17% (1.5B CHZ)
It obviously matters what they do.
2/14
Historically, the # of large transactions >100k USD, of course, strongly correlated with the $CHZ price.
Large T/Xs caused high volatility.
We saw peak large T/Xs at $0.90 ATH Apr 21 and at $0.55 Oct 21.
3/14
If we zoom into the last six months, we can see that pattern too.
Testnet launch in March 22 led $CHZ to $0.30.
This was a major buy the rumors sell the news event, as we crashed to $0.10 afterwards.
The level of large T/Xs right now is almost as high as in March.
4/14
Also, peak 24H Trading Vol in March exceeded $1.2B, a level which we almost touched yesterday at $1.1B.
Could be another local top signal.
Looking at the YTD chart, it also gets clear, that first $0.25 and then $0.30 are heavy resistances.
5/14
But back to the whales.
On-chain data shows that daily net flows to exchanges this week are on the highest level in three months.
Yesterday 70m #CHZ have been sent to #Binance, the biggest exchange for CHZ by liquidity / trading volume.
6/14
Whales are of course playing their games as $CHZ is talk of #crypto town right now.
The #Ethereum merge narrative is gone and #Chiliz offers a decent swing trade opportunity.
7/14
Looking at the balances by holdings, however, one can't see huge distribution by whales to retail here yet.
And frankly, this might make sense from an eye test.
#Chiliz is still in an uptrend, strong against #Bitcoin and the rallye doesn't seem to be over just yet.
8/14
Also, the TOP100 #ETH wallets are still positioned right now, as #CHZ is among their top 10 holdings.
This could speak for a (short term) continuation of the rallye.
Especially as both main catalyst (CC2, WC) are still a few weeks away.
9/14
Whales have positioned themselves here to play the #CHZ narrative.
From the data points I looked at, I can't see the big distribution has started just yet.
The rallye might find some continuation, if macro events like #FOMC allow for it.
10/14
Chiliz has been showing remarkable strength all year, pushed by strong fundamentals and narratives.
I'm sure in a different market environment we'd have seen totally different prices right now.
The question is, what will be the top of this bear market rallye and when?
11/14
I don't know and nobody will be able to tell you.
But be aware that no party lasts forever and there will come the time that distribution starts.
Profit taking, especially in a bear market, has never made anybody broke.
12/14
I still believe the peak of the rallye might be closer to the mainnet launch and world cup than just now.
We might however see a short term correction before there comes another runup.
Whales are definitely in the ring and are preparing their game plan, so should you. 😉
13/14
If this provided value for you, make sure to retweet the first Tweet to help others find this information too. 💪
I cover #Chiliz, #Socios and #Fantokens - leave me a follow at @PlaymakerChiliz if you want to stay up to date about this ecosystem. 🙂
Have a great day ☕️
14/14
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