STRK is the native token of Starknet, a validity rollup scaling solution for the Ethereum blockchain.
I - Onchain data from 52Hz Onchain (in Vietnamese)STRK's past flow: Nethermind & Flow Trader sold causing the price to dump - Flow Trader stopped selling - Bithumb, Wintermute accumulated tokens - Accumulation phase - Price pumping phase - Present
[1].
Nethermind withdrew 300k STRK ~ $678K to sell directly to USDC right after STRK price increased on March 5.
Looking at Nethermind's token sale volume, one thing can be certain: Nethermind does not want to dump STRK, so what is their main purpose?
>> Their selling of those STRK tokens may mean they want STRK to temporarily stop increasing in the short term, this will impact the price sideways and Market Makers can take advantage of this time to continue accumulating more STRK tokens.The MMs navigating the STRK price chart are Wintermute and while Nethermind was selling tokens and creating a price base, Wintermute had accumulated about additional 16M STRK: Nethermind sold 678K STRK < Wintermute accumulated an 16M STRK.
Each Nethermind order sells an average of about 50K STRK, while Wintermute only make buying orders with a volume of 100-1K STRK, so STRK only increases sideways even though the amount buyed and sold is very different.
So we have confirmed: Nethermind is creating a small frame re-accumulation price base for Wintermute to continue to accumulate in large quantities to carry out a stronger price pump in the near future.
Current Flow: Wintermute will pump and create a price push - Nethermind will sell STRK to stop the price from increasing - Create a small price base for Wintermute to accumulate more STRK.
II - Technical analysis (1H chart)Both Kumo cloud (Ichimoku) and 1H EMA34 (Sonic R) are providing very good support for STRK price chart, there is no signal of a reversal from increase to decrease of STRK in the near future.
The volume in the bullish candles is much larger than in the bearish candles, reconfirming the ongoing bullish trend.
[1]
Flow Nethermind