No Expectations Address 7/25-7/27 Activity Research notes

No Expectations address sent 10B PLS to 125 different addresses.

On july 25, two addresses sold PLS.

0xff sold 1B for DAI and 200M for PLSX, but then swapped it all back to PLS after a few hours
0xB97 sold 6.5B for DAI and bridged out to Ethereum, transfered it around to a few addresses, then it was sent right back to that address and bridged back to PulseChain.

Lets dig more into the addresses 0xB97 interected with on Ethereum.

Timeline

0xB97 Sold 6.5B PLS for 620k DAI
1. https://scan.pulsechain.com/address/0xB9714FADB0eCED0fe41f0491e2859b6d19035fd2/transactions#address-tabs
Bridged 620k DAI to PulseChain
1. bridge transaction: https://scan.pulsechain.com/tx/0x46b54a56dfaddc037674248246fb8a0f2f8e2c270a6fa3b320f543234807c102
2. ETH Address: https://etherscan.io/address/0xB9714FADB0eCED0fe41f0491e2859b6d19035fd2#tokentxns
0xB97 sent 619k DAI to 0x553. This was the first transaction ever into 0x553
1. transfer tx: https://etherscan.io/address/0x553cde496cfd11480a98c1be7166dfaed9dfb997#tokentxns
2. moments before, this wallet was sent 0.043 ETH for gas from 0xD3b: https://etherscan.io/tx/0x8db00f94680734515e1a9977c709c07978092796a3b853825c8709a7fb92273b
3. 0xD3B https://etherscan.io/txs?a=0xd3b386468e5ccd7207622650d9935ae1c850388c
  1. bought 37k HEX for $11,130 in September 2021, staked it for 1 year, sold the resulting 42,514 when it ended for 1.037 ETH worth $1,674 at the time.
  2. bought 33,791 HEX on september 6, 2021 and received 120,000 HEX from address 0xf4 which had been bought 9/5/2021 and sent to 0xD3B and 0x3199
    1. 0x3199 has a history of buying, selling, and staking HEX going back to september 2021 and as recently as 7 days ago when it bought 2.5M HEX. 0x3199 sacrificed 9,000 HEX for PulseX. It also sent 900k HEX to 0x7Ff. and 375 ETH to 0x3333d7. Many other transactions to other wallets, transacted a total of $4.4M
      1. 0x7Ff was trading like a pleb when hex first broke down to around $0.02. swapping back and forth over and over but not making any money.
      2. 0x7Ff bridged 60 ETH to PulseChain and sent 70 ETH to 0x3333d7.
      3. 0x3333d7 sent 240 ETH to 0x718 on June 3, 2023and 50 ETH to 0xA8ea on may 23, 2023
  3. has a deep history interacting with other wallets.
0x553 received 619k from 0xBD7 and sent a 25 DAI test transaction to 0xD8F3 followed by a 599,975 DAI transaction on 7/25
0xD8F3 sent 600k DAI to 0x3356 on 7/25
1. 0xD8f appears to be like an exchange hot wallet or exchange deposit router wallet because every time it receives a transaction, it sends it to 0x3356 five minutes later.
2. 0x3356 further appears like an exchange because it holds a $22M balance and regularly transfers in and out huge sums of money. There are also what appear to be bots that send spoof transactions from fake tokens with addresses that have teh same first and last characters of this address, apparently trying to trick people into clicking copy and paste to send funds to that address.
on 7/26 0x3356 then sent 1.3 DAI back to 0x553 and then on 7/27 it sent 599,997 DAI back to 0x553
0x553 then swapped some wETH to get 18.58 more DAI bringing their total DAI back to the amount that was originally sent
0x553 sent 619,003.86401184 DAI back to 0xB97
0xB97 then bridged the DAI back to PulseChain
On PulseChain 0xB97 then bought back 6,097,633,901.687 PLS.

TLDR:

0xB97 sold 6.5B PLS for 600k DAI, bridged DAI to ETH, sent the 600k DAI to another address 0x553 which then sent to what appears to be an exchange. Then two days later the exchange sent back 599,997 DAI to 0x553 which then sent it back to 0xB97 which bridged back to pulsechain and rebought 6.1B PLS. 0x553 is related to some very active wallets with large balances and interesting histories.

Key Takeaways: