Weekly Report

Weekly Report, April 3: Bitmax Token, Bibox Token, Ambrosus

William · Blockchain Analytics and Research
1 year ago

Top Deposits of the Week

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

# Token Exchange Deposit % Supply % 1W
1   Bitmax Token 38,247,675 BTMX 0.4% +551.2%
2   Bibox Token 16,775,636 BIX 6.3% +47.8%
3   Ambrosus 165,851,068 AMB 45.9% +44.2%
4   USD Coin 50,916,212 USDC 19.8% +23.1%
5   Ankr Network 1,587,284,292 ANKR 15.9% +22.6%
6   Aurora DAO 18,973,907 AURA 1.9% +22.5%
7   Metal 27,276,857 MTL 41.0% +19.9%
8   BitKan 1,711,155,444 KAN 17.1% +19.4%

Top Withdrawals of the Week

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

# Token Exchange Deposit % Supply % 1W
1   Dai 4,086,836 DAI 4.7% -12.5%
2   OpenANX 16,880,709 OAX 16.9% -10.4%
3   Moeda Loyalty Points 14,625,096 MDA 74.5% -9.8%
4   NKN 113,384,635 NKN 16.2% -6.1%
5   OmiseGo 20,453,490 OMG 14.6% -5.9%
6   Auctus 6,903,378 AUC 10.5% -5.2%
7   BlockMason Credit Protocol 85,421,049 BCPT 73.5% -4.5%

Weekly Analysis

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

 Bitmax Token (BTMX)

BTMX is an exchange token issued by Bitmax exchange.

The exchange deposit has surged by +551.2% in the past week. As mentioned in our last weekly report, we warned readers to proceed with caution regarding the BTMX token as its exchange deposit history show signs of whale manipulation. 

Outlook: BEARISH

 Bibox Token (BIX)

BIX is an exchange token issued by Bibox exchange. 

BIX holders appear to be taking profit on the recent pump, with exchange deposits increasing by 47.8% over the past week. BIX/BTC price may see further downside or remain stagnant at best. 

Outlook: NEUTRAL

 Ambrosus (AMB)

AMB is a blockchain-powered IoT network, enabling secure and frictionless dialogue between sensors.

Despite a brutal downtrend for the last 11 months, Ambrosus does not appear to be getting any relief soon. Exchange deposits has surged by +44.2%, with whale investors capitalizing on the recent Bitcoin rally to cash out. 

In addition, there is some controversy surrounding a possible acquisition of Ambrosus by Vechain. According to a document released by the Swiss Official Gazatte of Commerce, Ambrosus has changed its company name to Vechain and has transferred ownership from Angel Versatti (Ambrosus CEO) to "Stefan Meyer von Blatten". On the other hand, Vechain has stepped forward to deny this is true. Regardless of what is happening, investors should stay vigilant and proceed with caution with AMB. 

Outlook: BEARISH

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RIP to Ambrosus hodlers. Some shady shenanigans going on there.