Good evening to everyone , I hope you are all having a good day . Yesterday I posted about SPORTS massive buy wall of over 600 HIVE worth SPORTS but if you take a look at today's market it has already been destroyed .
I just grabbed a few sell order history images and you can see the massive dump .
Reason for the dump
- Actifit has been a great community , I have been a consistent Actifit user . It motivates me to keep fit but since it is linked to sportstalksocial and all the posts gets directly posted there , users wantedly or unwantedly get SPORTS token and once they get it , they just dump it .
- Lack of usecases. I won't talk in detail about this because I have kept on talking about this in my previous posts.
- Huge liquidity . Although 88.62% is staked , the 11.34% remaining that is
there is still 141,522,680 ( 141 damn million SPORTS token ) in liquid form . Even if 10% of the liquid holdings is actually sold off , we will clear off all buy orders at once .
Please correct me if I am wrong .
Regards, MR.