Perlin: pre-pump positioning or token release?
Perlin is on radar today.
The project is about trustless market around an untapped computing power supply.
It has made it's first pump a month ago and corrected to almost initial levels.
Very noticeable DAA spike caught my attention.
A first all time high DAA level after listing.
Can it be a pre pump positioning?
Considering PERL is known to be a 'sleeping' project with strong marketmakers.
This is the most significant drop ever, from 97 to 91%.
Speaking of many other assets I'd call this bearish.
Not this time.
PERL feels in some case similar to MATIC, remember it's insane pumps?
And here's the pattern preceded each MATIC's pump:
Can it really be a pre-pump positioning?
7.4M PERL deposited to exchanges a couple of days ago. No significant price action yet.
5. From non-exchange holders balance which decreased the same time:
6. If it's market making activity happening, then no wonder Perlin is onboarding a solid inflow of twitter followers:
7. And development activity stalling:
There may be another explanation of what's happening.
Can be read from:
All coming from a single address which in fact is a Perlin Team Multisig.
In addition to PERL token release schedule...
... a significant amount of tokens is being released in February.
And all metrics above just reflecting these movements.
Anyway it might be interesting to watch how this picture evolves in Perlin next few days.