Distribution history of SAFEX tokens

This article will give you an insight of how the distribution of SAFEX developed within the last year.

Market trend of SAFEX within the last year

After the crypto-mania in December/January and the resulted all-time-high of more than 10c SAFEX had found its bottom at the old support line of 1c in April.

This downtrend was then followed by a steady price increase to 4c at its high. Now, SAFEX is nearing its old strong support line of 1c again.

USD/SAFEX chart (coinmarketcap.com)

Distribution of SAFEX coins among addresses

In order to find out whether the downtrend to the old support is driven by whales dumping their coins the distribution has to be analyzed. This is possible because the SAFEX coin is an omni token yet. The following analysis will not be possible when all coins are migrated to the new blockchain.

A good way to analyze the distribution is a chart of cummulative SAFEX holding increasings. What does this mean? The balances of a certain number of addresses get arranged according to their holdings, beginning with the highest balance. Afterwards, the balances of all arranged addresses get summarized. This would result in a cummulative holding chart. In order to get a cummulative holding increasing chart, the difference of two cummulative holding charts has to get calculated. This calculation was carried out for three different time frames: Jan-Jul, Jan-Oct, Jul-Oct.

The above-noted chart describes what percentage of the whole SAFEX supply a specific amount of top addresses has accumulated within the selected time frame. It can be seen, that the top 1000 addresses accumulated more than 3% of the entire SAFEX supply from January until July. Beside the major accumulation of the top addresses, also addresses with a minor balance accumulated coins. Summarized, the top 4000 addresses accumulated 4.5% of the entire SAFEX supply. Big sell offs only appeared in the top wallet ranges of 1–50 and 100–150. How does this time frame chart compare to the one from January until October?

The comparison of the two graphs shows that another big accumulation surge of coins happened among the top 1000 wallets. Summarized, the top 1000 addresses have accumulated 6% of the entire SAFEX supply from January until October. Those coins appear to have been sold off by the wallets below rank 2000. The little detailed chart points out that the top 50 addresses accumulated big. The last chart shows the distribution history from July until October in detail.

Remember from the market trend chart above that SAFEX has been in a downtrend from July/August until now. What has caused this downtrend? Have big whales dumped their coins? Clearly not. It can be seen that there was major accumulation of coins in the top wallet range again. In fact, the top 500 wallets accumulated nearly another 3% of the entire SAFEX supply within this short time frame. The chart clearly shows that the coins were sold off by wallets below rank 1000 in this specific time frame.

Conclusion

What does the analysis of the market trend and coin distribution tell us? It can be said with certainty that the whales in this project are continuously adding coins to their stash. From January until July also minor holders accumulated quite much as well. From July until October the downtrend appears to have been caused by impatient minor holders who sold their coins off into the bag of major holders who had their bids ready at the exchange. It is quiet now but a storm may be coming in once the marketplace goes live and the majority of SAFEX tokens belong to strong believers in the project.