Whale Monopolizing the Market

Hi guys,

The largest CHIA seller sold the total of ~3x the farmed value. Is this a kind of market manipulator?

Wait. What? Are you saying they have sold 1.5 million in the first rank and that there is 0.6 million farmed???

Edit had to verify myself:

Please tell me there is someting I am misunderstanding here. I don’t want to contribute to any FUD so if this is somehow a misunderstanding please clarify. Maybe there is a more simple explenation like say wrong counting in the chiaexplorer?

Edit got a clarification in keybase so it seems like its tallying up after all Phew.

That was chia network distributing all the rewards for the pre farm. If you do some quickmaths it tallies up to the exact amount of chia minted on the first day of its release


I hope somebody says I am wrong.

Well I don’t know exactly how they come up with that number, but at least it doesn’t show buying.

It’s easy to spend that amount if you are actively trading all day long

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Also a fair point. Thanks. (then again it that would be quite a lot of trading!) But it seems this was some prefarm so if that is the case all is well. I am really nervous due to HPOOL having so large numbers and myself no chia for 18 days now so sorry if I am a bit jumpy.

That´s exactly the problem. Trading 3x the farmed CHIA means it bought and sold several times. Easy to manipulate the market price with such high frequency of trading.

If you whatch the numbers on firs pecture then you understand that 21 000 000 was premind before farming start. so 1.5 bilion chia can be sold.

I think this address is one person with ~2000 XCH sending the same coins to himself/herself over and over, basically spamming transactions to boost their gross coins received (meaningless, just complicates the blockchain). If you look at the parent coins in the transactions you’ll see it’s all looping back to the same wallet.

This address belongs to hpool, they just sent out most of the coins I guess.
They currently have ~1.8k XCH on that address (https://www.chiaexplorer.com/blockchain/address/xch1nrhexgfyrrqtwh6kmcyhfr2qwnv8xujzx3jtagxz6xc69j6407esad2hqc).

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