Cortex. It took 4 days to recognize it's 270% pump
Have you ever heard about Cortex?
The word on top of "Emerging Trends"
>>> Emerging trends is free to use without any subscription and login. Details <<<
Cortex (CTXC) is implementing a machine-learning platform that allows users to post tasks and submit AI DApps (Artificial Intelligence Decentralized Applications), released early 2018.
First of all what does the project's page tell us?
>>> Cortex (CTXC) project page is free to use without any subscription and login. Some limitations may apply. <<<
First of all there was a significant delay between the tasty price action and when the bees were attracted (social volume spike) - 4 days in between! Have you ever observed this before?
Next, the action itself:
- Price went up from around 0.073 to 0.198 USD in one day (×2.72)
- Trading volume swelled up from 1.35 to 46.8 MUSD (×34)
- Social volume ran from something near one bee a day... sorry from 1 mention a day to around 300 (×300)
See the red dots on the right? These are the bees 😉
I mean that's the points when crowd was attracted and the word "Cortex" appeared on "Emerging trends" page.
Usually these red dots suck all the juice from the price taking off and then it falls down heavily into the ground. But some prices just don't give a honey and continue to take off.
Ascending blue tops indicate the Cortex development team invested more and more efforts in its product before the price took off.
Well, it's mostly a common pattern here. The DAA usually spike along with the price. In some cases shortly before the price.
From what's seen on this chart I can say there was a real chance to pump up the price in October but it didn't work somewhy.
This metric is well known as a top/bottom indicator. Means big players either consider the price topped and exit the game (this is a top) or lose any hope, sell their bags and go away (then this is a bottom)
We can see above that big players made a perfect exit a while ago, while the others...
...the others are trying to catch the tops here and there without much confidence.
Switching to Sangraphs
The chart is dipping on the right when selecting hugest CTXC holders. Simply: they offloaded on this top.
Simply again: vertical dotted line on the right may be considered as a signal to sell. It shows a critical divergence between price and volume trends, common for a top.
Okay, now what are people talking about in CTXC context?
Why we should vote Aergo than Cortex in Binance Community Voting?
Aha! ☝️ This might be a reason why CTXC appeared on radars. On November 14th Binance announced the Community Coin Vote Round 3 - AERGO vs CTXC
Trading volume and price went up immediately, but not the social volume.
Join us in 1 hours time for an AMA with @CTXCBlockchain in the #Binance English Telegram group! There will be a $1,600 airdrop of $CTXC so don't miss out! Prepare your questions and get involved
The above tweet from November 19th may could have triggered the social volume increase.
To sum up. Grab your honey and run!
Serously: looks like a top. But may continue building new tops for a while.
Signed up to Sanbase to explore data yourself?
Thanks for reading!
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