Chiliz Whale Moves 20 Million CHZ, Could Price Dump Next?

The Chiliz Whale has but once more transferred 20 million CHZ tokens. Will it impression the worth in a low-volume market?

A whale wallet that begins with 0x8163, holding almost 650 million Chiliz tokens (CHZ), has transferred 20 million tokens. As we speak the CHZ chart has shaped an indecisive Doji candle, however with the low quantity out there, is a dump incoming with the switch of those tokens?

The Whale Transferred 20 Million CHZ

The 0x8163 pockets transferred 20 million CHZ round 6 hours from press time to an tackle, 0x4da2. Then, the 0x4da2 has moved over 18 million CHZ to a number of addresses in transactions, primarily consisting of a batch of two million CHZ every.

Chiliz whale activity
Supply: Etherscan

Besides for 2 wallets beginning with 0x4044 and 0x1ae0, all the opposite wallets nonetheless retailer the CHZ they obtained from the 0x4da2. These two wallets collectively transferred 373,999 CHZ to the OKX trade.

A Value Dump Incoming?

Practically 374 thousand CHZ transferred to exchanges can’t put promoting stress in the marketplace. However, if the whale steadily transfers the remaining 20 million tokens unfold throughout a number of wallets, it could actually impression the worth, contemplating that the quantity is low.

Earlier on Dec. 19, the whale transferred 14 million CHZ tokens in a similar way. They first moved 14 million CHZ to 0x4da2, after which the tokens have been unfold throughout a number of wallets in batches of 1.4 million CHZ. The CHZ worth fell by almost 10% on Dec. 19.

Beforehand, the pockets 0x8163 used the identical sample and transferred 20 million CHZ to 0x4da2 on Dec. 8. Thus far, the worth has been down by over 32%. The pockets holds almost 650 million Chiliz presently. In the event that they proceed this sample of transferring the tokens to trade, it could actually have a big impression on the worth of CHZ

Chiliz price action
Supply: TradingView, CHZ/USDT, Binance

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