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.
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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