DYDX has a chance to become a strong narrative for the coming weeks. The strength of this narrative depends on what's happening on the market, will we see a next wave of liquidations or not. It's good to have a chart layout prepared. We did it for you.
Our eye catching a few pieces, but especially looking into the last one, token holders balance trend, with accumulation with of perhaps a smartest group of DYDX token holders so far:
They were able to do a great job, adjusting their position at the right time. Having strong nerves, they sometimes buy during a crash. They seem to be knowing what they doing so far.
While we see kind of bit worrying pattern on many coins, like ETH...
... where there is divergence with latest growth which often leads to decline, AAVE tries to do something different:
If it will not be enough to keep the price, we dump. But we never know.
Santiment has a powerful feature, called "Screener".
It allows to produce a live list of tokens, filtered by specific criteria.
One of our public screeners, "Exchange Inflow" is set to highlight assets with increased exchange inflow, x3 compared to yesterday.
And there was DYDX on the list.
Looking into DyDx we found out that there was indeed a high exchange inflow, interestingly, a few hours prior to dump:
The top transactions table reveals a whale address initiatiting this move:
This is how his DYDX holdings chart looks like:
His funds ended up on Binance.
Yeah, even whales are getting desperate.