Jed mccaleb is carelessly dumping xlm on binance
he periodically market sells 1 million or more xlm for btc, causing the price to sink 1% or more, this is clearly visible when you look at the 1m volume on the xlm/btc pair
now i will explain
the "non profit" stellar foundation still holds over 90% of the xlm suply and the network has a built in inflation of 1% anually, thus, they receive ~900'000'000 XLM every year
which they can freely dump into the market, and they do
source:
https://dashboard.stellar.org/ -> Lumens Distributed = 8,657,842,676
go take a look at binance's xlm/btc on the 1 minute candles
all the crashes were caused by jed
now lets look at jed's wallets
https://stellar.expert/explorer/public/account/GBNDKFMGZWYOUA3K5PKSDT677HHQNUM7VFYVAZPJVGA73NXRWSWLGIMC?filter=paymentsthis is one of jed's wallets that has been sending xlm to binance
all the balance of this wallet came either from the inflation wallet or the sdf operational wallet
which are also jed's wallets, but of course jed wouldn't send xlm to binance directly from xlm's "official" wallets
xlm inflation wallet:
https://stellar.expert/explorer/public/account/GDWNY2POLGK65VVKIH5KQSH7VWLKRTQ5M6ADLJAYC2UEHEBEARCZJWWIsdf's operational wallet :
https://stellar.expert/explorer/public/account/GB6NVEN5HSUBKMYCE5ZOWSK5K23TBWRUQLZY3KNMXUZ3AQ2ESC4MY4AQsee in the balance chart how it took a big dip at some point, that was jed sending "supossedly to be distributed" xlm, to his personal wallet (sdf operations)