STORJ Halloween Pump
Looks like someone was celebrating Halloween and enjoying some PUMPkins with the taste of STORJ!
Let's see what happened around October 31st in the evening.
According to the social trends it's social volume increased rapidly:
If we have a closer look at the volume in comparison to the price (on data.santiment.net) with a 10m resolution, we will see a pretty obvious picture:
1) The pump organizers reveal the token name which is supposed to be pumped.
2) The main pump participants (the ones who are being actually fooled) start to by the STORJ tokens from the organizers.
3) The pump group starts to attack the telegram chats and creates artificial noise and fake local hype around the project (examples of the telegram messages can be also found here):
So now the picture is clear: STORJ was pumped and the scenario pattern is pretty classical, which we found out from the social data.
But are we able to recognize such actions by looking at the on-chain data? I think yes! Have a look at the exchange flow balance for STORJ before and right after the pump happened:
A pretty huge amount of tokens was transferred to exchanges, and right after the pump a part of them where withdrawn out of them which fits the general picture pretty well.
It's fascinating to dig both into the social and on-chain data, having the ability to get so much insightful information around even such small events like the one above. Happy Halloween!:)
Thanks for reading!
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