Chiliz price spikes following Binance listing
Looks like the good ol' Binance surprise listing pump effect is back in play.
The latest one being Chiliz (CHZ) which saw the price going from $0.006646 USD (just prior to announcement) to $0.012253 USD when Binance trading begun. That's a whopping +84% within ONE DAY.
Not bad, not bad indeed.
Latecomers to the pump game though will not be enjoying the ride as usual, as CHZ has fallen -20.53% to 0.00954 USD since the listing.
- chiliz soon to be a unicorn big time!
- Chiliz will grow I am sure
- Those chiliz shillers joined Binance group today just to shill chiliz
- Done, Bags full - GO GO CHZ
- Whales don't sale CHZ. This is a great sign for a crazy announcement coming!
- CHZ to the MOON!!!!🚀🚀🚀
- 1 purchase CHZ of Cristiano Ronaldo will double the price.😅 I Full hodl .💪💪💪
Social volume reveals that Chiliz didn't get popular until the recent price action/Binance listing. Likely thanks to the crowd just chasing pumps in this altcoin bear market and people shilling as much as possible to dump on those that doesn't know better.
So who's benefitting from this pump?
Token Age Consumed spiked and Exchange flow balance saw a huge increase in deposits, indicating that Long-term large holders likely took the Binance listing opportunity to offload their bags.
Below are the addresses responsible for the large transfers to Binance.
- 0x89213E67cBEDd240928b90673eE099Aae2052729 transferred a total of 43,750,001 CHZ tokens ($428,387 USD) to Binance.
- 0x9c8cc312e433F54897084b2636C43034106aB167 transferred a total of 57,079,879 CHZ tokens ($558,909 USD) to Binance.
Tracing this address leads to another address 0x2fe3ee9f48ee75bda34ef88ec39a620effdecbf5 that received 234M CHZ tokens back in December 2018. These tokens did not move until June 2019 and since then, the address has been steadily moving tokens to Bilaxy exchange and now Binance.
Now that's quite a bit of constant sell pressure from the above addresses. Anyone looking at picking up CHZ should keep an eye out on these addresses instead of just blindly following any shillers in Telegram.
Stay safe out there folks! DYOR.