From the chart above shown us the total amount withdrawal from all alcx pool daily. On 3 march 2021, alcx announced new adjusted reward portion with greatly reduce the apr for alusd pool. This caused the spike of withdrawal amount on 3 march (highlighted in red box). After that, farmers are constantly withdraw from all alcx pools each day.
The highest deposit amount is on 7 mar on aave, follow by vesper finance and harvest finance. After that there is dropping amount of deposit or staking in any of the protocol. Next we will have to look through their wallet to find out what’s happening to the decreasing amount of deposit.
From the chart above we observe the daily eth balance. The low balance of eth starting 26 march is because they sold their eth (highlighted in red box). Since neither of these eth is being deposit on any of the protocol. This make sense by comparing the price chart of eth.
Price action of eth is dipping between 26 march to 3 march. This explained the reason of low balance of eth in top 20 alcx users. After 5 april the price of ethereum is going up and same is the eth balance in top 20 alcx users (highlighted in yellow). Nevetheless, the whale in alcx is accumulating ethereum instead of depositing into any of the protocol.