Thread by @PLMKR10

How are whales playing the $CHZ rallye? 🧵

#Crypto #Chiliz #CHZ

1/14

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