Strange sells happening on the moon chart now

****IMPORTANT EDIT**** This is most likely Kraken trying to recoup what they can. They got screwed same as the rest of us.

This address (0x4EaE9d9Bd3d660908496c19e5E151C21850DA482) has been selling moons in batches of 500 multiple times a minute ever since The Incident® earlier today:

https://preview.redd.it/l93p5cuf5vub1.png?width=1385&format=png&auto=webp&s=d56370fdcdba214bf1a8a6ed1a7075927681e0b1

Not only that, but it's being refreshed with moons from at least these two addresses:

https://nova.arbiscan.io/address/0x964409310371a594494ec8ef84581bc3473188c9https://nova.arbiscan.io/address/0x782ea844921f53e431fa0358c1f146ea432ea0de

At the time of writing, here's what 88c9 is holding:

https://preview.redd.it/9xyycdg55vub1.png?width=719&format=png&auto=webp&s=3a268214141abd60d3b5723fe4c5865dbcd097f3

And here's what a0de is holding:

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https://preview.redd.it/hu29sf695vub1.png?width=651&format=png&auto=webp&s=57a3da33b871c84ae7130d84bc6c87b506ced322

Definitely sus. Don't have the time or the capabilities to look into this further, but it's definitely weird looking. No idea who these wallets belong to, but the logical conclusion here is someone, whoever that is, wants to keep the price of at least Moons suppressed.

Haven't seen the same pattern with Bricks yet, but I imagine it's only a matter of time.

EDIT TO ADD: It's the third and fourth largest wallets that are feeding the one that's selling.

EDIT TO THE EDIT: This is most likely Kraken trying to recoup what they can. They got screwed same as the rest of us. Thanks to /u/conceiv3d-in-lib3rty for the insight

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35 thoughts on “Strange sells happening on the moon chart now”

  1. Yesterday I said moons were stupid and refused to open my vault. Whos stupid now.

  3. It’s either a liquidity pool or something similar, or a tornado cash arbitrum nova variant 10000%

  4. > whoever that is, wants to keep the price of at least Moons suppressed

    It’s not a conspiracy to “suppress the price,” it’s someone who has a ton of moons is exiting that position while they’re still worth anything at all – likely using bots to sell in batches in some attempt to cut down on slippage during trades.

  8. Man, I’ve just found out about the moons thing. Shit, it hurts seeing an +%80 drop

  9. Maybe a frustrated whale angry at some people* (those who sold their bags before telling you what was going on)

    Or an angry exchange, for the same reasons. Who knows..

  11. 0x964 is Kraken for sure, but likely both addresses are Kraken. My guess is they’re trying to recoup some loses of their original purchase a few months ago by selling what they can 500 at a time on Sushiswap, before it goes to 0. That’s my best guess, this is obviously just speculation.

    If my memory serves me, Kraken didn’t have any OTC deal set up to buy moons from Reddit, they purchased their starting amount from the market. MEXC if i’m not mistaken. I’d imagine the amount they made on fees these past 2+ months wasn’t nearly enough to cover that original purchase, which is why they are selling whatever they can now.

  12. They’re just selling what they can. There are other whales who will also be trying to find exit liquidity.

    I loved the idea of Moons…hopefully a decentralized social media exists one day where we can have something similar happen. I would be all for it.

  14. there’s no conspiracy: reddit made stupid decision, holders of moon react.

    the sheer size of this just means it’s either an exchange wallet or some giga whale

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  17. The bigger question I have is… who’s buying and what do THEY know? 🤔

  24. Why do people have to question every little trade. Like something sinister is happening, just because there is a particular pattern to the behaviour.

    Who hasn’t wanted to sell gradually, instead of selling all at once and thus affecting the price you get?

  26. Wondering if tied to Kraken or MEXC as they’ll be wanting to unload their moons more than likely.

  28. Literally have not been following moons price for months and the the one day I open up my Moon price chart and this happens. Can’t make this up.

  35. I just exited moon the moment I receive the notification. This spez guy really need to be reconsidered by reddit board.

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