/biz/ - Business & Finance

>>57369347
Look at that mc to vplume ratio. Look at it. Something is odd.

For the past few days we had a mc/volume ratio of anywhere between 2-5, and this trend held. Now that ratio is <1, and we are seeing more of the volatility/sawtooth pattern in the charts. Multiples of the market cap are moving in and out of this coin per 24 hrs but only after that dump down. Gas fees did get a little less oppressive, it could be that these are trading bots, or (and this is a hell of an optimistic guess) a CEX hoping to flood/strangle liquidity in order to accumulate at a certain price. Organically, volume should follow sentiment, leading to price action, and you can tend to see the peaks and valleys in a chart if you see volume begin to drop as it approaches those local mins and maxes. The 7d still looks fantastically healthy, but we went from 2m in volume from that ATH ride up to 8m in volume today on a much gentler slope. Are people beginning to believe? Someone is moving a proportionate assload of money (almost double the circulating supply of LINU right now) and we are only steadily climbing instead of exploding like yesterday. Curious.