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![cryptosolv Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1856490323192803328.png) Cryptosolv [@cryptosolv](/creator/twitter/cryptosolv) on x 2592 followers
Created: 2025-07-12 21:30:12 UTC

Lots of premature bullish speculation around these wallets, as they've dumped 184m of their ~660m pHEX so far, but we're here to remind you of what's still to come.

We've included the 'pre-dump' in the figures as that's directly related. 

The USD price of $HEX has gone down ~20%, but the HEX/PLS ratio is down ~27%. Doesn't seem so bad, right? Remember, there's still 476m HEX to go. He's only dumped XX% of it so far - that's still a lot of dip to buy. 

Once he's done dumping the HEX, the pain is over, right? No. Remember, he's still going to dump all of the $PLS he's acquired. That'll probably end up being roughly $3m worth of PLS, a little under half of what he dumped from his $PLSX dumping extravaganza. 

The wider ecosystem prices have been saved from the pain so far because the bulk of the damage is just HEX/PLS ratio, but once that PLS hits the market the full extent of the selling will rear it's ugly head.

He also has ~660m eHEX, and whilst he's likely to dump that over on Ethereum, it'll still drag pHEX and ultimately PLS price down due to arbitrage and how the liquidity dynamics work over on Pulsechain. That'll likely be another ~$1m of sell pressure.

What's the tl;dr?
✍️ pHEX is in for quite a bit more pain.
✍️ The full price impact has been delayed because so far it's mostly ratio dumping. Once PLS dumps, it drags the rest of the ecosystem down with it.
✍️ There's likely to be ~$4m of wider ecosystem price impact yet to happen. 

What's the good news? 
✅️ At this pace, he'll be done within the fortnight. 
✅️ Lots of people rotated out of HEX into PLS, other cores, or stables - nearing the end of the dumping, the reversal may well be swift and violent.
✅️ This is by far the single largest 'bags of concern' we've been watching, and dumping at these levels is great news for the long-term health of the ecosystem.

All-in-all, this is short term pain for long term gain. Just don't get too excited just yet. You've got a few more weeks to DCA at these levels.

![](https://pbs.twimg.com/media/Gvr_qqvWwAA6rhp.jpg)

XXXXXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1944147303662858644/c:line.svg)

**Related Topics**
[$pls](/topic/$pls)
[diving](/topic/diving)
[hex](/topic/hex)
[$hex](/topic/$hex)
[united states dollar](/topic/united-states-dollar)
[coins wallets](/topic/coins-wallets)
[$plsx](/topic/$plsx)
[pulsechain](/topic/pulsechain)

[Post Link](https://x.com/cryptosolv/status/1944147303662858644)

[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]

cryptosolv Avatar Cryptosolv @cryptosolv on x 2592 followers Created: 2025-07-12 21:30:12 UTC

Lots of premature bullish speculation around these wallets, as they've dumped 184m of their ~660m pHEX so far, but we're here to remind you of what's still to come.

We've included the 'pre-dump' in the figures as that's directly related.

The USD price of $HEX has gone down ~20%, but the HEX/PLS ratio is down ~27%. Doesn't seem so bad, right? Remember, there's still 476m HEX to go. He's only dumped XX% of it so far - that's still a lot of dip to buy.

Once he's done dumping the HEX, the pain is over, right? No. Remember, he's still going to dump all of the $PLS he's acquired. That'll probably end up being roughly $3m worth of PLS, a little under half of what he dumped from his $PLSX dumping extravaganza.

The wider ecosystem prices have been saved from the pain so far because the bulk of the damage is just HEX/PLS ratio, but once that PLS hits the market the full extent of the selling will rear it's ugly head.

He also has ~660m eHEX, and whilst he's likely to dump that over on Ethereum, it'll still drag pHEX and ultimately PLS price down due to arbitrage and how the liquidity dynamics work over on Pulsechain. That'll likely be another ~$1m of sell pressure.

What's the tl;dr? ✍️ pHEX is in for quite a bit more pain. ✍️ The full price impact has been delayed because so far it's mostly ratio dumping. Once PLS dumps, it drags the rest of the ecosystem down with it. ✍️ There's likely to be ~$4m of wider ecosystem price impact yet to happen.

What's the good news? ✅️ At this pace, he'll be done within the fortnight. ✅️ Lots of people rotated out of HEX into PLS, other cores, or stables - nearing the end of the dumping, the reversal may well be swift and violent. ✅️ This is by far the single largest 'bags of concern' we've been watching, and dumping at these levels is great news for the long-term health of the ecosystem.

All-in-all, this is short term pain for long term gain. Just don't get too excited just yet. You've got a few more weeks to DCA at these levels.

XXXXXX engagements

Engagements Line Chart

Related Topics $pls diving hex $hex united states dollar coins wallets $plsx pulsechain

Post Link

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