Whale Activity on Thorchain

black and white whale in water

In this article, we will look at the whale activity of Thorchain, as well as which pools they currently supply liquidity to.

Whales and Crypto: How They Impact The Market?

In the crypto market, whales are investors who have a lot of power. They have so much money that they are able to change the market. A whale is someone who has the financial power to alter the value of a coin in a huge way. There is no doubt that if you see a drastic and abrupt jump on the chart of your coin, there is a whale or whales together influencing its value.

When a value rises or falls, it is always decided by the whales. Imagine, for instance, that five Bitcoin whales come together one day and decide to all sell their coins at the same time.This would cause a catastrophic price fall, as immediately after selling coins, they would repurchase them. This would result in them buying more at a lower price thanks to the profits they made from selling.It will allow them to become even wealthier than they already are. If they continue on this path, the value of bitcoin will be impacted accordingly.

Here is a discussion of the whale activity on Thorchain by examining wallets that own 10k+RUNE. They are currently LPing into which pools?

Whales and Liquidity Provider Transactions

In the graph below we can see how many whales participate in the liquidity pool. During the past 6 months, we counted 1,499 whales in 34 different pools.The lowest total whale count (BNB.FRM) and the highest total (BTC.BTC) are 1 and 240, respectively.A maximum number of 331 whales were observed in week of Oct31-Nov6, 2021, while a minimum number of 3 was observed in week of Apr18-24, 2021. Both BNB.BNB and BNB.BUSD maintain consistency.

Whale & Liquidity Provider Transactions According to Pool and Trend can be seen here.There are 15 different Pools and 17,909 transactions were recorded in the last 6 months.The maximum number of transactions came from BTC.BTC pools in May 23-29,2021There were 18 transactions (BNB.BTCB) at the lowest level and 5,263 transactions (BTC.BTC) at the highest level.May 23-29, 2021 saw the highest number of transactions (3,587) and July 11-17, 2021 saw the lowest number (18 transactions).Transactions of ETH.ETH and ETH.USDC are positively correlated

Whale transactions make up 8% of total transactions.The maximum number of whales was 331 seen in Oct 31-Nov 6, 2021 and the minimum number of whales was 3 seen in Apr 18-24, 2021. Total Whales and Transactions shows a decreasing trend.

They are currently Looping into…

What is the current location of whale liquidity providers as shown in the below graph? Both BTC.BTC and ETH.ETH contribute 55.86% to the total transaction volume.BNB.FRM has the lowest Total Transactions at 1 (BTC.BTC) and BTC.BTC has the highest Total Transactions at 5,282. And also here we can see BTC.BTC and ETH.ETH carried out more than 5000 transactions.

Observations

  • According to the above analysis, the number of whales from ETH.THOR pool only appeared from Oct31,2021 onwards.
  • There were the most whales participating from the BTC.BTC pool.
  • There were more whales participating in the ETH.XRUNE pool during the week of 27Jun-03Jul 2021.
  • Finally, the most whale liquidity providers were hanging out in ETH.ETH and BTC.BTC pools.

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