HEX SUPPLY SHOCKED!

March 05, 2023 Written by AXiS ALiVE

OG SHARK TURNS $37k TO $12.5 MILLION

HEX is currently rallying upwards off of a recent selloff from an OG wallet that first purchased $37,000 of HEX in 2020 and staked it out for years into the future. This player has turned that HEX into a whopping $12.5 Million over the three years since their initial purchase, amazing! One of their most recent stakes ended and the total liquid supply in the wallet came in around 127,000,000 HEX. That is almost double the supply for sale on the market. Please view this most recent episode of BLOCKCHAIN CODES for more information.

This particular wallet has only ever sold since its initial purchase. Naturally, chain analysts who have been keeping a keen eye on potential threats to price, have assumed this actor would continue to dump their stack.

As of this morning, there now sits 90 Million HEX for a total value of $6 million in their wallet. Originally the wallet began market selling and the price of HEX fell -12.5% in 12 Hours from 7.247 Cents to 6.347 Cents. The price has since started to recover as the selling from this wallet has stopped for the time being.

Part of being on the right side of the market is for looking at maximum downside if the actor were to market sell the remaining 90 million HEX in one go. If they were to do so, the price of HEX could fall another -22.6% off the current level of 6.83 Cents.

A -22.4% drop in price would bring HEX right into the fattest ranges of liquidity that are acting as support. We have detailed this at length in many of my recent public appearances on numerous different channels. Go watch this video here for more information on the bid side liquidity sitting at 5.4 cents.

Large players looking to buy or gain sizable exposure to HEX should be targeting the 5 Cent area where there sits about $400,000 of Liquidity. It is likely that if price were to hit this range, it would be a feeding frenzy for coins. This is the level where the new Genesis Ethereum Whale converted 1,000 ETH into HEX and accumulated their first bag and locked it up until May 6th. That wallet currently has $15,000,000 of ammunition and they would likely protect their position.

See the liquidity graph below. The 5.4 Cent level is roughly where that market buy came in. This was where the most liquidity was sitting across all of the major pairs. Very smart move of accumulation for someone with such deep pockets.

HEX MARKET SUPPLY

Looking at the liquidity pools today, I have noticed that the amount of buyers coming into the market is greatly exceeding the sellers. By combining the action on the HEX/USDC and the HEX/WETH pairs I am seeing about 894 BUYS to 363 Sells. That means there are almost three times as many buys in a 24 hour period as there are sells.

Another factor that is keeping HEX price moving higher is the ratio of USDC and Ethereum in the pools compared to the HEX for sale on Market. You can see in the table below that there is 186% USD denominated liquidity over HEX in the pools. In other words, there is 53% more USDC and ETH than there is HEX for sale in dollar terms.

Coin	Amount	USD Value
HEX	70,220,000	$4,774,960
Ethereum	1,940	$3,041,920
USDC	5,880,000	$5,880,000
​Total USDC + ETH	53% More than HEX	$8,921,920

This is bullish for price because it implies that HEX is rarer than the counterparts of its pairs. The Liquidity Graph below displays how that relationship has changed over time. Only a few months ago there was 300 million HEX in the pools at a fraction of the price.

Currently during this most recent selloff, you can see the shark wallet that is dumping is increasing the HEX supply for the market to absorb at these higher prices while pulling USDC out of the pools. The Ethereum pair is the most active in terms of volume and it is still holding its parabolic growth trend.

Courtesy: HEXFIRE.IO

PRE-ELECTION YEARS ARE STATISTICALLY POSITIVE

Looking at the past performance of the S&P 500 on pre-election years, we can see that these years are typically "up only" until May and then chop sideways until the final year-end rip leading into December. This is setting up to be another bullish example of a pre-election year.

Courtesy: Hirsch Holdings Inc

As January goes, so goes the year. The Contrarian speaks about this frequently. When January is a bullish month, it usually implies the year is going to be bullish. In 72 years of records there is substantial enough correlations to prove a remarkable 83.3% accuracy ratio, with only 12 errors. This year, January was bullish. Politicians can do a lot and move the markets to just get elected. Don't fight the Fed.

Courtesy: Adrian Zduńczyk, CMT

Here we can see the Correlations of the S&P 500 on different time frames. In 75% of the cases, the markets took a bullish path forward. The odds are in favor of the bulls this time on the condition that the markets are nothing like they were in 1947 through the context of efficient trading technology.

• 3-Month most like a bullish 1965

• 6-Month most like a bullish 1944

• 12-Month most like a bullish 2009

• 24-Month most like a bearish 1947

Courtesy: Nautilus Group

Taking into consideration what we know about the Bitcoin to S&P correlation, if the S&P is set to make moves higher, Bitcoin should do the same. BTC is invariably increasing its correlation to the larger global markets as its liquidity and volume structures mature. A good year for the S&P is a good year for Cryptocurrency.

Courtesy: Bitcoin Magazine

STABLECOIN INDEX AND DOLLAR INDEX

The Dollar Currency Index is taking its last breaths before making a major breakdown. This is signaled by the "blow-off" top on DXY price and the Monthly Sentiment Indicator as shown on stream here and in the Chart Sets.

The StableCoins are attempting to stage a rally on Bitcoin and Ethereum weakness. A successful break of the triangle, retest of the lower trend line, and resumption off of those levels would mark short term shakiness in the prices of ETH and BTC. However, taking into account all of the positive data we are seeing from the S&P and Bitcoin Market History, it is safe to assume a reversal to the upside is still in the cards.

UPCOMING LIVE STREAMS

There are some great shows coming up this week on the EVENTS PAGE.

• HEX Analytics and Charts on MoneyTalkWithDane Mon at 11AM EST

• Charting 101 with AXiS ALiVE and BlakcHEXican Tue at 03PM EST

• Deep Thoughts on Consciousness w/ The Beard Wed at 01PM EST

• HEX Data Deep Dive w/ AXiS ALiVE & ChrispyMan Fri at 06PM EST

Thanks for your support and all the best in securing freedom in your financial future.

-AXiS ALiVE

Any views expressed in the below are the personal views of the author and should not form the basis for making investment decisions, nor be construed as a recommendation or advice to engage in investment transactions.