A few signs of Chiliz accumulation
1. The first sign is increased Exchange Outflow:
The chart is showing CHZ exchange flow balance. Spikes up indicate tokens moving into exchanges, spikes down point to CHZ being withdrawn from exchanges.
We can see that last few days more Chiliz were withdrawn from exchanges than deposited.
It's a good sign. Why would users move CHZ to personal wallets. Definitely not to sell.
2. Supply on exchanges:
Next metric is about how many CHZ from total supply are sitting on exchanges.
This amount is drying out. Less tokens on exchanges decrease possible sell pressure and increase upside potential. Less risk short to say.
3. Supply Distribution:
This 'rainbow hill' is indicating a consensus in Chiliz holders behaviour. All CHZ holders, owning from 0.001 to 1,000,000 tokens are increasing their stack. All groups are accumulating, from shrimps to whales.
Overall this set of indicators could possibly reveal a sort of an accumulation of token. It could continue for unknown period of time. And we don't know how could it end up. But we consider there is probably a nice risk/reward currently in Chiliz.
All charts used: https://app.santiment.net/s/Vo47xR9F
Disclaimer: The opinions expressed in the post are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security or investment product.
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