0x facing some volatility ahead. 🔼❓

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Garry Kabankin
Jan 29, 2020

#6 in top 30d DAA within Top 50 ERC-20 list is ZRX today:

Unlike other coins in this list, 0x's latest DAA pattern contains a batch of anomalies and looks quite interesting:

This chart can be found in Sanbase and is available for registered users for free.

The above DAA pattern usually precedes a positive price action. Especially when supported by other metrics.

First level of support is the Network Growth. How is it doing?

Network growth is a blue line on second chart

Support detected, but not complete. Yesterday's abnormal DAA spike is not followed by the Network Growth.

Next metric is the Token Age Consumed:

Oh. it's spiking lately quite hard. Means - volatility is coming.

Transaction Volume and it's fare sister Token Circulation:

Nice confirmation from both!

Taking a deeper dive into ZRX onchain data using Sandata.

Mean age, two years time span:

Very slight drops can be seen. It's usually a sign of the top.

More details about why it's working like this are available in great post by @tzanko - https://insights.santiment.net/read/%F0%9F%93%A2-mean-age-653

Once again, this is the first and light signal opposite to all above.

Percent of coins active last 90 days:

A slight increase is visible on this metric. Standing for possible slight price correction.

Cause basically percent of active coins tends to go opposite with price as discovered by @dindustries

This is the second opposite signal.

Next is MVRV. It usually tops before the price top. And opposite.

What's seen here? 60 days MVRV diving down yesterday. Price may follow.

It's a third potential conservative signal.

ZRX holders distribution:

Heaviest ZRX holders tend to offload their bags except last few days.

Top Holders changes:

Three changes in holders, ranks from 18 to 50 recently.

What kind of changes?

One whale seems extremely confident in accumulating ZRX, LINK and REP:

Noticed what's common within these three tokens?

All are easily available on DEXes. But I'm not saying bought initial stacks on decentralized exchanges in 2018. Exactly on top by the way.

Although wallet is holding 0.1% of ZRX supply, this alert will trigger when ZRX will start to move out - https://app.santiment.net/sonar/signal/1210?title=ZRX%20whale%20dump%20alert

Same for LINK - https://app.santiment.net/sonar/signal/1211?title=LINK%20whale%20dump%20alert

Why not to consider shorting these tokens on fulcrum when signals fire?

Who knows.

Finally, the important social part.

What kind of mood is attached to ZRX these days?

I have used the Social Data Feed interface (available for Sandata users) to create an overview:

Quite negative, right? Lots of space for price to go up.

To sum up: I have a positive feeling about ZRX after writing this.

And you?

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Garry Kabankin
Jan 29, 2020

Thanks for reading!

If you enjoyed this insight please leave a like, join discussion in the comments and share it with your friends!


Assets from this insight

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$ 0.361983

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Conversations (2)

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8 months ago

Garry, thanks for the detailed report. Have you made this "whales movement" signal public? So that it will appear in the Sonar Feed.

Yes, signals are public and will appear in Feed when triggered.