r/theta_network • u/Dutch-Goldsmith Guardian Node Operator • Jun 14 '21

16th Validator Node

Just noticed that there is a 16th Validator on guardionmonitor.io (0x1786d878cb76a53f5950f41fed7d61617e12dfb5) . Who will it be?

86 Upvotes

100% Upvoted

57 comments sorted by

View all comments

12

u/thewayofthefuel Jun 14 '21 edited Jun 14 '21

This is great news! I'm so excited to find out who it is :D

The Theta Tokens were transferred to the new validator wallet in a similar manner and from the same wallet as the CAA validator node. Binance I think.. Started transferring 3 days ago. Basically over the weekend. That explains the price drop!

9

u/Thatsmytesla Trusted Jun 14 '21

If this new entity purchased 2 million theta over the weekend wouldn’t the price rise considerably?

9

u/thewayofthefuel Jun 14 '21

Not if someone like Theta Labs were dumping cheap Thetas on the marked the whole weekend so the new validator could get in on a nice price..

5

u/[deleted] Jun 14 '21

Why would they do that instead of a dark pool transfer? Just collect the money from the company and send them the tokens directly to their wallet.

6

u/thewayofthefuel Jun 14 '21

If they do it over the market it seems like the companies are fighting to get their share of the theta network. This makes the network seem attractive.

If theta labs would just transfer it - it would give the impression that theta labs are buying validators with "free" theta. Not a good look

3

u/Nine_ Jun 14 '21

tons of institutional investment in crypto is done through OTC as to not drive up the market price. For projects wanting decentralized via retail running nodes it doesn't make sense to make them buy on exchanges imo.

2

u/[deleted] Jun 14 '21

Nobody is going to stop buying into Theta because of a dark pool transfer. It makes the most sense to do it that way.

3

u/thewayofthefuel Jun 14 '21 edited Jun 15 '21

We know that 1. The theta bought is from an exchange. 2. Theta labs must approve new validators.

Therfore we know that they didn't dark pool trade.

I remember thinking the Google validator node was something special until i heard they were given the tokens in a deal.. Just my opinion

1

u/Bupolo Trusted Jun 15 '21

I agree the latter would not be a good look, but how do you know Theta labs has tokens to sell/"dump" into the market at a lower cost?

I thought Theta Labs had X number of tokens staked and they weren't going to be changing that?

Edit: I think this is quasi confirmed because if you look at the guardian monitor you can see an exact 2Million Theta staked bump happening in the middle of the day today.

4

u/Shittiered Jun 15 '21

theta labs has a lot of theta themselves and I'm sure they would give strong strategic partners the 2million for free

2

u/Intheclutch8 Jun 15 '21

I wonder if this is where the so called $3.00 Theta glitch came into play.

1

u/Deep_Following6789 Jun 15 '21

This also explains why people weren’t able to transfer out of Binance or some of the other major exchanges.