@Danielle68u5 I believe that funds will buy hoards and still own it, but take less out of circulation via staking, and then sell 500k when they originally bought maybe 5M. The 500k is noticeable to create havoc then they sell another 500k, create more havoc, then buy back 5M at the lows again
@muminek1980@uncNav_ The psychology of this is textbook by institutions.
As ETH made a new ATH it immediately went into Wyckoff distribution. Were closer to the lows than the high.
I am in big and down big but believe in ETH. In time, it will prevail
@dannycheng2022 It needs to correct eventually. There are too many inefficiencies (gaps that havenโt been filled) during this bull run. It would be healthy to know weโre not getting too far infront of our skis
@ZenobleResearch@plsmaxi365 They wouldn't be buying it at a discount - they're buying it at 5 years Forward PE which if ETH is at 15-30k/ETH. SBET would have to sell their ETH at 2K (currently) for it to make sense, but why would they do that?
@ZenobleResearch@plsmaxi365 $BMNR purchasing $SBET doesn't make financial sense. Paying for a company with forward looking projections by 5 years would be like buying ETH at 15-30k assumed expected growth
A merger is more likely with equitable and relative staking comp. but pointless for $BMNR