I don't follow the price too closely but I love the all the analysis from @bidaskspread
Some information I can maybe contribute here:
* Up-front, I've personally been a big net buyer of DESO during the past few months or so, from $6 through $40+ to now, and never in my life a net seller. I only even say "net" buyer because we do market-make with things like HeroSwap which lets people buy and sell against us purely for user-convenience, otherwise there would be no "net" (and note that we tend to get *even longer* on DESO through those operations). Moreover, just to be clear because people sometimes try to be sneaky with their words: When I say "I" that includes any entity I'm affiliated with. For the avoidance of doube, there is no entity that's affiliated me that is a net seller-- it's diamondhands all the way down. Recently, as in for the past month or so, I believe we have converted over $1M of our funds to DESO as well because we think it's cheap, and we plan to continue to do so. In addition, whenever someone sells to us on HeroSwap, we've just been absorbing it to get even longer. If you've been paying any attention to all of the public information we've been putting out there about Revolution PoS and Focus, it should be abundantly clear to you why we take this position.
* With regard to selling on the market, I don't know who is selling but I can say that I'm not aware of any person or entity ever buying more than ~5% of the supply, and that was the absolute max that anybody I've ever known of being able to get (and the next highest was like 2%). Over time, people may have been able to accumulate more than this but if they did that then it had to happen through peer to peer or on-exchange purchases that I don't know about. It was a top priority when we launched the network to ensure that the distribution of coins could be as decentralized as possible. That's why there is no "lead investor" and why the maximum amount I'm aware of anyone buying is so low. Other teams like Solana have foundations that own 50% of the supply. There is nothing like that here. In fact, the largest holder of DESO right now is the Focus cold wallet, which you can verify for yourself on-chain here:
- node.deso.org/supply-stats
* Last thing I'll say is don't sweat the selling. It's much *much* better to get the paper-hands people out now while the price is so low rather than after Revolution+Focus launch and everyone sees the full potential of DESO. When someone asks me if they should hold DESO I say the exact same thing: "If you believe in the long-term vision then you should hold forever (or at least the next ten years), and if you don't then I would sincerely appreciate it if you would sell now." That is because every time someone dumps, it's an opportunity for us to gain a long-term holder who's a true believer. Indeed, if some trader lazy-holds through the launch of Revolution+Focus, they could make millions that could otherwise have gone to someone who actually cares about creating a more decentralized world. To be clear: I'm not saying I like the price going down, but rather just saying that I'm so confident in the fundamentals of what we're launching that my dominant feeling is to feel bad for the paper-hands who are missing out on one of the greatest platform shifts of our generation.
And so, my recommendation to everyone is the same: If you feel like you understand and believe in DESO then hold it for as long as you can, and if not then just sell it now. After all, wouldn't you rather hold onto something you really believe in?
Almost comical at this point. The TWAP seller has increased his size to just under 3 DESO sold every single minute. This has been nonstop for a long, long time. You can see it at the :50 mark of every minute in the trade history on Coinbase.
This is now the equivalent of a 15% inflation rate or emission. People wondering why the coin is underperforming the rest of the market by such a wide margin have to look no further.
The only saving grace is that this holder can only keep this up for another year assuming he started with 30% of the total supply. He has sold well over 1 million DESO in this TWAP the past year plus. This should spring like a beachball being held under water… eventually.
@nader - who were the biggest preferential buyers the BitClout bonding curve in March of 2021? You must know the players who had this much supply to dump like this. It’s undeniable at this point and the sheer size is astounding.
I know people are looking for positive vibes but that’s not the reality in the DESO token market right now… I’ll be back when there is some positive activity to report. The negative stuff is exhausting. Cheers all and good luck.
TWAP seller increasing his size by about 70%…. Now selling approximately 1.2 DESO every minute. It’s hitting the book on the 40 second mark of every minute on Coinbase. This is approximately 1728 DESO sold every day which is the equivalent of a 6% inflation or “emissions” for DESO.
Most of this finds its way into the hands of the market maker/s on Coinbase who then sell it back into the market.
The nonstop TWAP seller on Coinbase for what seems like a year and a half or more is like repetitive paper cuts to the market, or Chinese water torture. It won’t do fatal damage but it is incredibly irritating and exhausting.
DESO holders have been put through the wringer.
I wonder what the motives of the seller are. It’s not rational in my opinion. The seller could sell for a much higher price if he’d just let DESO do its thing. 🤷🏼♂️
60k / day
I think its people who bought during the hype between $8-25 hoping to sell for $50 and over. All those orders are sitting there for couple months now. They got tired of sitting on that cash when rest of the market pumping and they could at least double $$ already. So they give up and sell when BTC drops.
Deso going down 😭
That's quite the aggressive selling strategy. It must be draining for DESO holders. 💸
Hang in there. And thanks for sharing. Just watching you cope helps me cope!!
This is one of the strangest things i've seen. They sell at the worst possible time, who is doing this. A billion $ clueless tradfi fund who bought all the way down from $180? A shop with all the early VCs as clients, so they'll all selling in a similar way?
This participant doesn't even know what they're trading, it's like a zombie algorithm still running a fund after all the humans are extinct
"I’ll be back when there is some positive activity to report. The negative stuff is exhausting."
personally, i'd appreciate if you kept reporting the negative stuff that's going on; a lot really.
ty for considering this.
I am just going to have fun with deso and hold on, that is my plan.
There is still lots to learn on deso for myself.
Thanks mate.
zuck after reading this rn
Sir, as far as I know, there are a lot of diamondhands in the Chinese community, the maximum position of an individual is about 150,000 DESO, and a large number of believers hold positions between 5,000-50,000 $DESO. Most of us cost per unit is about 25-30 dollars.
No single entity over 5% .. feels great to have over 1% loaded
I dont think this seller had >10% or anything like that. They likely bought a basket of cryptos when Bitcoin was ~20k and selling them all after the market has gone up without care for the fundamentals of the projects. They always sell after Bitcoin goes up, they don't care about the individual DESO market dynamics
the rich list API is brutal 🤣 can you add pagination so it's possible to load all 3,028,710?