Oct. 20, 2021: CVX Wars: Tetra Strikes Back 🐳🐰

Whale moves threaten $ROOK's gambit

Remember just yesterday when $ROOK was considering buying up $CRV? They quickly started running the math on what it would look like to buy $CVX instead.

Well, wars can turn hot in a hurry. This particular window may be closing quite swiftly. Pretty shortly thereafter, technical analysts observed a rare β€œTetracandle” pattern in the Convex charts.

The sudden pump would cause shockwaves across the ecosystem. If $ROOK is planning to strike, their window of opportunity is closing. After falling off quickly, the price has mostly aligned with the pump.

As it turns out, the chad move had nothing to do with trying to frontrun $ROOK. It’s been a Michael Saylor inspired microstrategy of turbo-buying.

This wouldn’t even count as insider trading if there was such a thing in crypto. This alpha has been fully public. It’s up to regular people to choose whether to follow the trail being clearly signaled by an actual whale, or sitting around doing nothing.

It also appears to not so much be an intentional splash. More that from the point of view of a whale, what feels like a small ripple is considered a major wake to the rest of the ecosystem.

Other major players announced some big moves in the wake. @CryptoMessiah responded by rebalancing his portfolio toward $CRV.

It also appears as if now the majority of CVX is locked for 16 weeks.

The fun part of all this is that the expertly balanced flywheel means that $CVX and $CRV tango together.

This war is playing out fast. It’s fun to look back at just before the summer and see how well this thread aged, and how far we’ve come since then.


Disclaimers! Author is a $CRV/$CVX maxi.