Weekly Report

Weekly Report, March 27: Lambda, Everex, NKN, Bitmax Token

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   Lambda 725,087,373 LAMB 12.1% +129.9%
2   Bibox Token 11,351,013 BIX 4.2% +92.8%
3   Spendcoin 42,282,261 SPND 2.1% +91.1%
4   Everex 9,981,545 EVX 39.9% +34.2%
5   BitKan 1,432,980,710 KAN 14.3% +25.0%
6   NKN 120,812,751 NKN 17.3% +22.2%
7   Maker 3,753 MKR 0.4% +21.0%
8   TrueChain 36,823,496 TRUE 36.8% +20.8%

Top Withdrawals of the Week

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

# Token Exchange Deposit % Supply % 1W
1   Bitmax Token 5,873,312 BTMX 0.1% -51.6%
2   Gemini Dollar 3,549,187 GUSD 22.3% -29.7%
3   Aurora DAO 15,488,124 AURA 1.5% -24.9%
4   Augur 1,076,977 REP 9.8% -13.2%
5   Patron 42,730,466 PAT 10.7% -6.7%
6   Huobi Token 30,831,617 HT 6.2% -6.7%
7   Mossland 99,371,602 MOC 19.9% -4.6%
8   Mithril 171,850,295 MITH 17.2% -4.1%

Weekly Analysis

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

 Lambda (LAMB)

LAMB is a decentralized storage network.

The 129.9% surge in exchange deposits comes after a three-month long rally, which suggest the rally may be cooling off as whales begin to take profit.  

Outlook: BEARISH

 Everex (EVX)

EVX is a money transfer and remittance network. 

The 34.2% surge in exchange deposits comes after an inexplicable 400% pump in EVX, which suggest the whales are taking the opportunity to sell into the rally.  

Outlook: BEARISH


NKN is a P2P network connectivity protocol for a decentralized internet.

We maintain our bearish outlook from last week as whales continue to pour in deposits to sell into the rally.

Outlook: BEARISH

 Bitmax Token (BTMX)

BTMX is an exchange token issued by BitMax exchange.

Exchange deposit has declined by -51.6%, which may indicate accumulation going on. But on closer inspection of the chart, there may be intentional spoofing going on. In January 18, 2019, there was a huge spike in exchange deposit with no adverse impact on the token price. In our experience, tokens with regular spikes in deposits (followed by periods of decline) are manipulated by whales who control a large portion of total supply. Such tokens are prone to abrupt pumps and dumps. Proceed with caution. 

Outlook: NEUTRAL

 Huobi Token (HT)

HT is an exchange token issued by Huobi exchange.

Exchange deposit has declined by -6.7% over the past week, which may indicate some accumulation, likely due to the recent hype surrounding exchange tokens. However given that the rally has already run its course and its BTC price is approaching its previous high, we are cautiously optimistic for now. 

Outlook: NEUTRAL

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