31 [ALGO] New CEO

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    New boss

    Staci Warden was announced as the CEO of Algorand Foundation on February 10, 2022. She replaces Sean Lee who was the CEO for the previous 18 months. Prior to Algorand she was an executive director at JPMorgan, running multilateral institution relationships in Europe, Africa, Russia and central Asia, according to her Linkedin profile. She has also worked at Nasdaq, where she oversaw the development of the exchange's listed trading platform for microcap companies, the BBX.

    It's safe to say that Staci brings with her a ton of financial world experience but will that translate to the crypto world? That is TBD but let's look at the on-chain data whether this appointment brought any bullish news for the ALGO token which has been trading a long way from it's recent high of $2.3.

    Methodology

    In this analysis, I'm looking at the the movement patterns of ALGO tokens between the Central Exchanges (CEX) and non-custodial wallets.

    Observations

    1. After Staci is appointed, we actually see a remarkable reduction in the movement of CEXes to and from CEXes.
    2. There isn't a lot of difference in which direction ALGOs are moving but it's clear that we're consistently moving less than 40M ALGOs in total on most days after February 10th.
    1. The number of transactions also show a gradual decrease below 10K and only in the recent days of March have started to tick up.
    1. Using a 100% stacked chart we can confirm that the the daily direction of movement is almost 50-50.
    1. Overall, the number of ALGOs that have moved to CEXes are slightly more than those that moved to wallets since January 10th.

    Conclusion

    1. After the appointment of Staci, there seems to be a remarkable reduction in the movement of ALGOs. Staci's appointment might not have anything to do with this but it's still surprising for there to be that much reduction.
    2. The overall daily movement is not dominated by either direction and is usually 50-50.