Summary
- Kaiko said it repeatedly identified signs that some traders built pre-positioned trades before Robinhood's token listing announcements.
- The report said one example showed a specific wallet taking a long position about an hour before a listing announcement, while another took a short position ahead of an earnings announcement and closed it after the news.
- Kaiko said changes in open interest, funding rates, trading volume, and price gains just before listings pointed to the possibility that some participants had access to non-public information or were using sophisticated front-running strategies.
Forecast Trend Report by Period
Some traders appeared to establish positions before Robinhood announced token listings, raising the possibility of access to non-public information or the use of sophisticated signal-detection strategies.
Cointelegraph reported on May 5 that on-chain analytics firm Kaiko said in a report it had identified repeated patterns of pre-positioning ahead of Robinhood listing announcements.
In one example, a specific wallet opened a long position about an hour before a token listing announcement and closed it shortly after the news. In another, a trader took a short position ahead of an earnings announcement and unwound it after the price fell.
Kaiko's analysis of open interest, funding rates and trading-volume changes showed that some traders repeatedly built positions in a consistent manner before listing announcements.
Several tokens also posted gains just before listing announcements, which the report described as statistically significant pre-announcement moves.
The report said the pattern could indicate that some participants had access to non-public information related to listings, or that they were using sophisticated front-running strategies based on public signals.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
