It looks like someone or someone's unloaded hundreds of thousands of HIVE last night...
There was a motivated seller or sellers of HIVE last night.
And it looks like it was predominately coming from one exchange...
https://wallet.hive.blog/@hot.dunamu
(Source: https://wallet.hive.blog/@hot.dunamu/transfers)
What exchange is that?
Initially I was not entirely sure which exchange this account is used for as I have never used it, but I have seen some evidence it is related to the Upbit exchange.
Actually, digging a bit deeper there is some pretty good evidence that is exactly who it is right here...
(Source: https://wallet.hive.blog/@hot.dunamu/transfers)
Interestingly enough there haven't been any official announcements that the Upbit wallets are up and running, and a lot of the accounts doing the transfers look like they have been created just recently as well...
My guess is this is related to Justin Sun and him dumping intentionally the HIVE he received in the airdrop in order to drive prices down.
And if that is the case, and it is indeed him or someone from his team, he is probably selling the HIVE he received and using the proceeds to support the STEEM price.
It's either that or the Upbit exchange is just dumping their customer's HIVE they receive in the airdrop, which would probably be even worse, for them.
Stay informed my friends.
-Doc
I know for sure @hot.dunamu is connected to Upbit, as the parent company of Upbit is South Korean company named Dunamu (두나무).
Many users likely know who it is. Transfers to @tradingideas, @glory7, @marabara and other names I recognize from Splinterlands.
I was just surprised @jrcornel didn't know...
@jrcornel had never looked into it, but after 10 seconds of looking into it, it was apparent who it was, as I said in the post.
Some things are better unsaid... Especially if it makes oneself look bad...
From ~~~ embed:1247068586855858181: twitter metadata:dGhlcmVhbHdvbGY0Mnx8aHR0cHM6Ly90d2l0dGVyLmNvbS90aGVyZWFsd29sZjQyL3N0YXR1cy8xMjQ3MDY4NTg2ODU1ODU4MTgxOnw= ~~~
So upbit is an exchange that received these Hive as part of the AirDrop? Or accounts are transferring to Upbit now to sell Hive.
That tweet has next-to-nothing useful information...
Well I thought it was useful to have a reputable source stating they believe the account belongs to the Upbit exchange.
Believing and knowing are two completely different things... Like said already, it doesn't take more than 10 seconds to connect the two names...
The games that are being played just keep going.
Sun really is doing some tremendous marketing...for Hive.
In the meantime, the steemitblog cant even put together three days worth of posts.
Hive just keeps pushing along.
It's kind of funny that Justin is trying to dump the Hive price right now. People are too smart to think it isn't him. All he's doing is creating buy opportunities for people trying to rack up some Hive while the Steem price is higher.
This is going to turn into a huge money sink for Justin.
I think this motivated seller has something to do with @project7 and @steemhunt. They have clear connections with UpBit and were excluded from the Hive airdrop (so they probably have a lot of resentment towards Hive)
I met @project7 at STEEMFest in Krakow and I used STEEMHunt a lottt. Sucks to see the divide among the community thanks to the actions of a tyrannical dictator
https://steemit.com/steemhunt/@steemhunt/hunt-is-now-available-on-bitberry-a-wallet-app-with-100k-users
There is another possibility -- a lot of people loaded up on Steem just before the airdrop, and at some point, because they did it to double their money, they were of course going to take profits... while I don't deny that Mr. Sun and his associates have motive to do this, I would need harder evidence t be convinced.
I am concerned that we are giving Mr. Sun a lot of space, rent-free, in the "Hive" mind ... given the problems with Steem, he may not have as much time or ability to mess with Hive as we think he does... we came here to get past this, and although I know it has only been two weeks, still...
Bumpy ride ahead!
Another buy opportunities for us to buy hive at the discounted price..If this is related to Justin, I give up now🤦🏽♂️😂..every time when he’s making a move it benefits us..we just gonna dump steem for hive
Yeah Justin is actually footing the bill if he keeps propping Steem up to 17 cents while everyone is dumping it into Hive.
I bet he thinks no one will want to buy the Hive if it keeps crashing.
Like they'd rather hold Steem instead? Laughable.
Was watching this attack happen in real time.
There is a weird lawsuit going on.
Also a bunch of fake accounts were created to make it look like real users were dumping.
Once again we left ourselves open to attack by not freezing exchange accounts, and now one exchange is literally dumping coins they control onto another (Bittrex)
Can't wait for my next power down so I can dump STEEM for HIVE.
Not too long ago there was a tweet that Dunama was Upbit's hot wallet.
Did you check this?
Don’t care who’s selling, they’re doing a bad deal, I just scoop’em up!
I am now motivated to fucking shit on steem as hard as humanly possible. If I continue using the platform it will be only for duplicating content. I will not ever hold any steem ever again.
Fuck steem I am fucking selling and will continue talking shit about it as much as possible now.
https://peakd.com/hive-167922/@leeyh3/hive-upbit-hive-hbd-opening-of-the-withdrawal-support-of-hive-hive-hive-dollar-hbd
Thanks for the update. So, it looks like users can withdraw their HIVE/HBD but they are not making a market for it.
It sure looks like it, once other exchanges open up the withdrawals we should expect the korean traders to dump more tokens on the market.
I STAY CONNECTED BROTHER.
한국 거래소 'upbit' 에는 대략 2900만 'steem'이 있었다
한국사람들은 airdrop을 받기위해 구매를 하였고 가격을 주도했다.
그런데 hive의 진실을 알고 다들 판매를 대기중이다.
한국은 hive에 대한 여론이 안좋다
"Justin Sun and him dumping intentionally the HIVE he received in the airdrop"
Why did he receive HIVE?!?
He received it for all the steem he held in exchanges that participated in the airdrop.
How did we not see that coming?
That scammy guy Sun....
The good thing is that these airdropped HIVE received by people in favour of STEEM can only be sold once. Hopefully they will end up in strong hands that are in full support of the Hive chain.
Lol if they dumped last night they are half retarded at bare minimum. Lol you get 0.5 Steem per Hive recently on average.