It's been a while since we have seen this pattern
At least on this scale. It's been over a year since we have seen volume going above 25M Hive on Binance (and several times higher than that on Upbit). The volume spikes are quite frankly speaking pretty impressive. I don't really know of any other coin that has these kinds of massive volume spikes. Look at the chart here:
Yes, my last post has performed really badly
I argued that we wouldn't see the usual pump and dump scheme. But as it turns out it was a classic one. Price dipped even below pre pump levels. What does that tell us? To me it suggests that Upbit whales are just making a quick buck from Hive - leaching out value and making us look like a shitcoin. If we didn't have such good fundamentals I'd even start to side with that argument.
But now for the 12am/pm scheme
2 years ago I already looked into this matter and analyzed the time of the pumps. It's overwhelmingly at 12am with a second peak at 12pm as can be seen here:
There are time number of pumps occurring at the time of the day. Someone or some group is triggering them pretty much always at the same times. Why? I have no idea.
Conclusion
If you have any idea of why we are eeing this pattern let me know - I know of no other coin having it (but I haven't looked too deeply into it). To me it seems that we have some very big whales that don't care for Hive other than knowing how to make some profit with a pump&dump scheme. Not sure if we can ever get a bigger portion of the 120M+(!) Hive stored on Upbit ever back on chain.
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It would be interesting to see where in there world both times of the day are at reasonable hours. 12am is kind of late for whales to trade. So I don't think it's your timezone. Unless it's fully automated?
it's UTC time; don't think it would be fully automated as there was literally $100M+ traded on Upbit. Boggles the mind really
Yes you are right I have also marked this pattern. I have been observing regular hive for some time it used to happen that hive price on Binance would pump from 0.05 cents to 0.10 cents at a certain time and then it would come back to normal range. @tobetada
In the past it was so frequent that one could have made massive gains by simply shorting Hive every couple of days around that time
@tipu curate
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