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EOSCrowdsale Withdraw 470,000 ETH, Price Manipulation or Fuel BPC Campaign?

According to data on eos.icocha, over 470,000 ETH was withdrawn from EOSCrowdsale address yesterday on the morning of April 23. It’s worth about $300 million at current prices. The recent two months have seen four intensive large ETH withdrawals from the address:

  • On Feb 23, around 417K ETH was withdrawn from EOSCrowdsale address;
  • On March 27, over 610K ETH was moved out of the address;
  • On April 9, some 410K ETH was withdrawn;
  • On April 23, about 470K ETH was withdrawn

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The withdrawal history of EOS ICO address (real-time data)

Every big move triggers speculations that it might crush the ETH market and then great bull time for EOS. As EOS ICO only takes ETH as payment, a reasonable explanation for their doing this goes that they need to cash out ETH when it is at the recent peak soaring from $760 on 16 April to $1560 on 24 April, or they just want to give some boost to their own token price.

But the fact is that ETH was almost unaffected during the periods when those large withdrawals above happened, and EOS price was indeed eye-catching. As per data on coinmarketcap, ranking 5th by market cap, EOS climbed 16% from $11.5 yesterday to some $13.5, the surge was believed to continue. It was speculated by some media outlets that the EOS team was managing to manipulate the price via buying in massive EOS with ETH. Regarding this, both the EOS team and Block.One made no official response.

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Anyway, EOS has been winning increasing eyeballs, as the recent contributed ETH into EOS ICO address indicates. EOS wins particular popularity in China for its ongoing 21 supernode candidates campaign.

70 block producer candidates from 25 countries are running for it, as the latest weekly report of EOSgo shows. 29 out of them are from China (Hong Kong and Taiwan included)with a plurality of big names from Chinese crypto community. Famous angel investors like Xue Manzi, Li Xiaolai and Lao Mao have announced their running for it. Even sophisticated Wenzhou investors, known for their business and money-making skills, also joined the game in the name of EOSWenzhou. Recently, F2Pool, Antpool and INBlockchain also follow the suit.

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Crypto exchange Bitfinex today has announced that it is pleased to present itself as an official EOS Block Producer candidate early in the morning. The list keeps growing, and at press time, as reported by 8BTC, another Chinese BP, Huobi.pool, announced they are in.

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