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EOS: crashing Ethereum price


On the morning of May 28, the volume of Ethereum trading on Bitfinex increased 9 times within an hour – from 20 thousand to 180 thousand. This means that someone sold a large amount of ETH on the exchange, reportsĀ Trustnodes.

EOS: crashing Ethereum price - Coinatory

We can assume that the massive sale was associated with insider information, but in this case, the sale would take place on several exchanges, rather than on one.

According to Trustnodes, there is a good reason to believe that there was one person or team standing behind the sale of ETH at Bitfinex. And it is very likely that it was EOS.

EOS: crashing Ethereum price - Coinatory

4 days ago the EOS team spent 1 million ETH. According to the latest data, recently another 300 thousand ETH were spent.

The EOS’ smart contract for crowdsale shows that they have 200 thousand ETH left, while another multisig address marked as “EOS owner” shows that the team has another 900 thousand ETH that in the total amount of 1.1 million ETH.

EOS: crashing Ethereum price - Coinatory

The fragment selected in the screenshot above is the address of the EOS crowdsale, while all funds received from the ICO go to the next wallet, and from there – to the exchanges.

In this case, the exchange of choice seems to be Bitfinex, where today there was much more trading volume than on other exchanges, as well as a lower price.

EOS: crashing Ethereum price - Coinatory

In February, Bitfinex announced the launch of the EOSfinex decentralized trading exchange on the basis of EOS.IO’s block-protocol, which implies a fairly close relationship between the project and the exchanger.

It should be noted that at the time of the collapse of the price of Ethereum, the Binance currency exchange started listing EOS / USDT. Now EOS is preparing to launch the main network, and the ICO project is scheduled to be completed in about 3 days.

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