Weekly Report

Weekly Report, April 10: SunContract, Dent, Monetha, Own

William · Blockchain Analytics and Research
5 months ago

Top Deposits of the Week

Large deposits of tokens on exchanges could indicate intention to sell.

# Token Exchange Deposit % Supply % 1W
1   SunContract 17,094,876 SNC 13.9% +15.0%
2   Dent 26,592,960,203 DENT 26.6% +14.9%
3   Covalent 1,065,612,785 COVA 16.4% +14.5%
4   Aergo 19,946,831 AERGO 4.0% +14.4%
5   Spendcoin 53,561,331 SPND 2.7% +12.2%
6   Monetha 209,948,307 MTH 52.2% +11.5%
7   SwftCoin 2,814,648,202 SWFTC 28.1% +11.4%
8   Celsius Network 7,569,308 CEL 1.2% +10.8%

Top Withdrawals of the Week

Large withdrawal of tokens from exchanges could indicate intention to accumulate.

# Token Exchange Deposit % Supply % 1W
1   Huobi Token 17,754,494 HT 3.6% -41.3%
2   Bibox Token* 12,929,694 BIX 4.8% -19.5%*
3   Elixir 13,040,037 ELIX 38.7% -11.0%
4   Gemini Dollar 3,231,369 GUSD 20.3% -8.5%
5   Bitmax Token 35,111,590 BTMX 0.4% -8.1%
6   Gnosis 67,199 GNO 0.7% -7.4%
7   Dai 3,919,233 DAI 4.2% -5.6%
8   Own 8,031,005 CHX 4.8% -5.5%

*Note that since the posting of this weekly report, massive quantities of Bibox Token has been deposited on Bibox exchange wallet, erasing the withdrawal it had over the past week. 

Weekly Analysis

Here we dive deeper to look at what are driving these movements.

 SunContract (SNC)

SNC is a blockchain-based P2P energy marketplace. 

Holders appear to be taking advantage of the recent price rally to sell their tokens, with exchange deposits surging by +15.0% over the past week. 

Outlook: BEARISH


 Dent (DENT)

DENT aims to disrupt the mobile industry by creating a world-wide marketplace on Ethereum to sell and buy Mobile Data. 

Despite the recent recovery of bitcoin and major altcoins, Dent continues its relentless down trend since January 2018 with sellers showing no signs of tapering off. Exchange deposit has surged by +14.9% over the week, while price has declined by -15.5%. 

Outlook: BEARISH


 Monetha (MTH)

MTH is a decentralized reputation platform.

Holders appear to be taking advantage of the recent Bitcoin rally to take profit, with exchange deposits surging by +11.5% over the past week. 

Outlook: BEARISH


 Own (CHX)

CHX is a tokenizing platform for issuing securities tokens.

There appears to be accumulation of CHX, with exchange deposits declining by +11.5% over the past week. This could be in anticipation of the upcoming launch of MyOwn app, which is a securities token exchange platform. 

Outlook: BULLISH


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