Whalestats reported a BSC whale purchase of over $24 million worth of Polkadot (DOT) tokens within the span of just a few hours. The wallet address of the whale in question is 0x174b229d397af711da58bfddb142f1babe6bfaad. The purchase totalled at 884,992 DOT took place within minutes from eachother in 8 transactions.
The values for the eight transactions are as follows, starting from the earliest, going down to the latest.
- 99,999 DOT’s for $2,167,999 USD
- 114,999 DOT’s for $2,511,599 USD
- 114,999 DOT’s for $2,509,299 USD
- 104,999 DOT’s for $2,293,199 USD
- 89,999 DOT’s for $1,965,599 USD
- 119,999 DOT’s for $2,620,799 USD
- 109,999 DOT’s for $2,402,399 USD
- 129,999 DOT’s for $2,839,199 USD
A closer examination of the Polkadot purchase movement.
The value of the transactions is astronomical and there appears to be something fishy going on behind the screen. The wallet holdings do not mention the purchase of the DOT tokens.
According to the wallet data on Whalestats, the aforementioned wallet address only holds $7.5 million worth of DOT tokens, with a 24h movement of 0%. This seems a little strange as it contradicts the purchases reported.
The data on BSCscan concerning the wallet’s asset movements suggested something to do with a VDOT token (Venus-DOT). There were several inflows of Polkadot tokens and a corresponding outflow of VDOT visible on BSC.
It is difficult to pinpoint what is causing such an imbalance in the data due to the anonymity of the wallet. There could be multitudes of reasons for such a heavy movement and lag in recording them by WhaleStats like exchange stocking up on Polkadot tokens or a big holding Whale.
In a recent development, all DOT tokens from the wallet, worth $7.5 Million were also sold.
At the time of publication, Polkadot was trading at $21.74, up by 1.2%. However, the small increase in DOT prices does not support the idea of market manipulation.