Recent Pump from NuBits action or external?


#1

Was the recent pump in value due to direct internal NuBit’s action?

It seems odd and unlikely that an individual with the liquidity to pump NBT up that high would do so when they could just allow people panic selling to sell in to them at a much lower price. So I assume this was some internal action.

Where did the funds come from?


#2

from selling NSR


#3

If that is true then why did the funds not show up in any of the public wallets?


#4

This was an external thing. A whale bought at 30 cents assuming Nu would stabilize over the coming months. Arguably, this type of price action is what Nu is banking on.


#5

@jooize and @Phoenix will know:joy:


#6

Thanks for the response @Nagalim.

Just to be clear, we think, for reasons unknown, a whale placed a market order causing the price to rocket and paying well over the odds for half their coins, rather than just placing an iceberg order and waiting for people to sell in to them over the coming months?

Seems like odd behaviour… unless they’re pumping and dumping… And as the pump is over and the price has hardly dumped (relatively speaking) that also seems unlikely. :confused:


#7

Not if you look at the last time it crashed. It went to $0.20 for a little while then floundered around 70 cents then came back to $1. Looking at it as an outsider, one could expect a similar return this time as well. It’s not so far-fetched to presume someone might speculate in this way.


#8

@Nagalim The situations are very different. The capital shortfall is vastly larger this time and wont be so easily resolved.

However, I agree with you that someone looking as an outsider might not realize this and may view the charts as similar.


#9

The volumes are also much higher. There are a lot more speculators this time around.