Analysis of 6.1 million trades of 4.7 million NFTs shows that the top 10% of traders have traded 97% of NFTs which definitely puts meat on the bones of the hypothesis that a lot of NFT trades are wash sales intended to artificially boost prices. https://t.co/ufgmhE2iBi— Dare Obasanjo (@Carnage4Life) November 30, 2021
Different beasts a little imo, not sure how to even think about the comparable statistics for the stonks at large
Cause the tweet mentions sale volume explicitly; so for stonk, more of a AI-traded vs human kinda thing, but not exactly.
I think this 10% of crypto traders are just pumping in order to dump and exist purely to “excite” the market with inauthenticly-high demand data (inflated sales volume).
I’m not really sure what the equivalent would be for the market at large. Enron types for sure I guess, and what percentage of firms are just various forms of Enron behavior probably depends on your cynicism levels
now do the numbers for stocks/equities
https://www.cnbc.com/2021/10/18/the-wealthiest-10percent-of-americans-own-a-record-89percent-of-all-us-stocks.html
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Different beasts a little imo, not sure how to even think about the comparable statistics for the stonks at large
Cause the tweet mentions sale volume explicitly; so for stonk, more of a AI-traded vs human kinda thing, but not exactly.
I think this 10% of crypto traders are just pumping in order to dump and exist purely to “excite” the market with inauthenticly-high demand data (inflated sales volume).
I’m not really sure what the equivalent would be for the market at large. Enron types for sure I guess, and what percentage of firms are just various forms of Enron behavior probably depends on your cynicism levels