Joaquin Gonzalez

Today's $PLSX pump - an early post-mortem. Earlier today we saw ~$1.3m of $ETH and stables deployed predominantly into $PLSX (with some into $PLS) - the pump peaked at ~80%, followed by a drawdown of 27% (so far) - total net pump still sits at ~31%. We analyzed the top 10 net sellers of $PLSX to see who ruined some of the fun, and whether they look like: 📉 Traders (stables/ETH) 📉 Traders (rotatoooors) 📉 Exit sellers Of those 10 sellers, between them they offloaded ~$280k of $PLSX, broken down into the above categories they were: 📉 Traders (stables/ETH) - $72k (26%) 📉 Traders (rotatooors) - $198k (70.5%) 📉 Exit sellers - $10k (3.5%) 🔎 One bonus wallet honorable mention (that wasn't a PLSX seller) sold $171k worth of $PLS into stables, they certainly did their job personally taking the shine off the pump. Lots of rotation into $PLS, presumably as the ratio hit around 1:1 and lots of traders saw that as a local top - a small amount of rotation into $HEX as well (as we posted earlier, it's right near the bottom of a ratio range it's bounced off 3x before - teapaw.org/cryptosolv/status/1997…) Some of those that we've marked traders (stables/ETH) may end up bridging some of those proceeds out, but looking at their wallet history it's more likely that the capital will stay on chain to trade with. ✍️ Overall, a trader's game today. People looking for quick flips, a bit of front-running, and just a sprinkle of "I'm outta here" going on. Bridge flows since the buying started are overall positive, very little of the selling was true exit selling. Have we established a new floor?