and this wallet holds almost 115M Hive. So only around 5M are left liquid on the exchange?
I think this could explain why we do not have big Upbit pumps and dumps anymore (I just checked, and the big volume stopped exactly in April when they moved the funds). This would suggest to me that it has always been Upbit themselves that created these massive movements to dump on people buying Hive... that's a bit of a revelation to me since I have been pondering over these big moves for a while (I guess it should have been obvious- exchanges are only interested in profits)
but continuing this train of thought... since they did this very often it must have been profitable to do so; which begs the question, why stop this scheme and lock funds? Perhaps stricter regulation in S. Korea?
that makes sense..
Am I reading this right: Upbit moved thier funds to a cold wallet last year https://peakd.com/@cold.dunamu/wallet
and this wallet holds almost 115M Hive. So only around 5M are left liquid on the exchange?
I think this could explain why we do not have big Upbit pumps and dumps anymore (I just checked, and the big volume stopped exactly in April when they moved the funds). This would suggest to me that it has always been Upbit themselves that created these massive movements to dump on people buying Hive... that's a bit of a revelation to me since I have been pondering over these big moves for a while (I guess it should have been obvious- exchanges are only interested in profits)
but continuing this train of thought... since they did this very often it must have been profitable to do so; which begs the question, why stop this scheme and lock funds? Perhaps stricter regulation in S. Korea?