Sunday, November 29

Crypto market crash may have been the result of market manipulation

Crypto Twitter is still capturing on, with just a few users experiencing confusion about the circumstance.

Early this early morning, crypto markets practically widely experienced a cost drop at around 5 am UTC. The other days crypto market rally was broken after the flash sale and markets have actually somewhat recuperated and are now fairly stabilized.

How can the entire crypto market crash like that?
— Sports Guy (@Jimbeamclassic) August 2, 2020

The marketplaces crashing generally at the very same time could be equated to trading bots reacting to arbitrage trading opportunities throughout exchanges. The uniform drop across most popular trading pairs (apart from stablecoins) leaves a lot of space for interpretation.

Let me know what you believe by talking about the following tweet.

What do you believe was the reason behind todays universal crypto market crash? #cryptonews #bitcoin #ethereum #therestofcrypto #defi
— Zoran Spirkovski (@SpirkovskiZoran) August 2, 2020

A glimpse at WhaleAlert, a twitter account that reports on large crypto motions, we see a strange phenomenon. Hours prior to the dump, approximately $52 mil USDT were moved from Tether Treasury to Binance, and another $55 mil USDT was moved from the treasury to Huobi.

an opportunity taken chance a profit-hungry whale? While there are hints pointing at an unholy collaboration in between iFinex( Tether), Binance, and Huobi in an effort to draw out revenues, there is no significant evidence on which we can make this claim.

Conveniently both Binance and Huobi are the exchanges that experienced the greatest levels of USDT-related volume in the previous 24 hours, showcasing them as the primary rate chauffeur behind the action. Was there nasty play and market manipulation behind the rally and subsequent dump, or was this simply

Theres yet to be a genuine description, but looking at the charts, only stablecoins experienced gains at the very same time, a signal that a whale pumped the marketplaces, before promptly heading for the exit door. So, lets look at the abnormality, i.e. stablecoins.

an opportunity taken chance a profit-hungry whale? While there are hints pointing at an unholy collaboration in between iFinex( Tether), Binance, and Huobi in an effort to extract profits, there is no significant evidence on which we can make this claim.

Easily both Binance and Huobi are the exchanges that experienced the greatest levels of USDT-related volume in the past 24 hours, showcasing them as the primary rate chauffeur behind the action. Was there foul play and market manipulation behind the rally and subsequent dump, or was this just

Discover the rest of the WhaleAlert tweets at the end of the article.

Discover the rest of the WhaleAlert tweets at the end of the article.

This was followed by an issuance of a new batch of $250 mil USDT, at the treasury.

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