DATA's Binance trading competition - Who are the real winners?

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Apr 29, 2020
DATA's crazy price action

DATA saw a +64% gains (24hrs) after Binance announced a trading competition for it today.

DATA's Binance trading announcement

However, folks were quick to point out how price shot up 1 minute before the actual announcement was released anywhere.

Cryptotwitter calls out pump before annoucement

But even so, for those quick enough, they were actually able to ride the pump up as news of the trading competition spreads. In fact, some folks took this opportunity to offload some of their bags as we see an a positive flow balance of 3M DATA tokens into exchanges.

Within the 2 hours, there were more inflow than outflow into exchanges that took advantage of the high volume trading activity.

Top 10 non-exchange holders vs Supply on Exchanges

It's worth noting that the top 10 non-exchange holders have reduced their holdings significantly since November last year.

Top 10 non-exchange holdings vs Supply on exchanges

And with each dip in holdings, Supply on Exchanges spiked up significantly as well, indicating that Top 10 non-exchange holders probably sent DATA straight into exchanges - At times, right at the top of a pump, and at times in anticipation for the next leg up.

Also, DATA supply on exchanges is now at its highest ever. Given that there isn't any exchange facilitated token swap going on, this is pure sell pressure that comes in time for the trading competition.

And as with most trading competition goes, it's usually temporary as traders tend not to become holders. Seems like a game of hot potato, just don't be the last one holding it.

Trading competition = Big pay day for Black Thursday buyers

So who's really benefiting from this trading competition? The tradings jumping in now or?

Well, looking at the Average Token age consumed in days where it shows the average number od days that tokens were idle before being moved on a certain date, we can see that the DATA tokens that moved today had an Average Token Age consumed in Days of 6.68 weeks, which......coincides nicely with the Black Thursday meltdown period

Given that most altcoins have liquidity issues for people with large amount of tokens, the well-timed Binance trading competition gives enough liquidity for all those that accumulated during the Black Thursday meltdown at $0.006471 USD to lock in returns of more than 10x at $0.077795.

Well played sir, well played.

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Apr 29, 2020

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