“But corelation isn't causation!” chant the cyber hornets.
Yeah well… I'm far from done, my pointy-arsed friends.
For starters, let's also note the same delta with Kraken here:
8/
Post by twetch#7124
Someone will ask about my thesis because FinTiwt so just to really drill it out,the thesis is:
“Under a capital flight condition, having BTC on a real dollar exchange will be more valuable than on a USDT exchange, and market dynamics will reflect that.”
9/
What the chain says
- Block
- 668 977
- Time
- 2021-01-07T18:02:58Z
- Signer
- 19CZX2Au1CCbFug3HjjtevywLSRXCm1AZf
- App
- twetch
- Type
- post
- Content type
- text/plain
- Name in tx
- twetch#7124
Fields the transaction did not carry are omitted. Open the payload to see the bytes as stored.
Signed by
19CZX2Au1CCbFug3HjjtevywLSRXCm1AZf VerifiedReplies (11)
But wait, this sandwich comes with chips!
Digging in more, I found the following useful twitter search string:
"from unknown wallet to #Coinbase" (from:whale_alert)
Go ahead: try it out, I'll wait here.
10/
Interesting right? What you're looking at is a transaction record of large, unknown actors moving money to Coinbase, a real dollar exchange.
You can sub 'Coinbase’ for ‘Kraken’ or whatever, but let's stay here and poke around for a bit first.
11/
Note that our hypothesis has 2 dominant capital carriers: BTC and XLM.
If we chart these volumes out, it’s curious to note the large spikes during USA holidays:
12/
These BTC/XLM flows represent roughly $3.6B of capital flight since November-to Coinbase alone!
I didnt go back farther because I had to hand-collate all this, but it could be interesting for someone who, like me, obviously lives in moms basement.
13/
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