0xScope Newsletter #17: Smart Money
Also: We investigate the Unibot hack and the weird trade that turned $116,000 in FTM into $1M in WBTC, among many other things.
Research
Introducing the Smart Money Quarterly Report
Get access to exclusive intel on the best trades and the most profitable tokens made by Smart Money addresses during Q3 2023. Download the report here.
Tracking the Unibot hack
Unibot, a popular Telegram bot used to snipe trades on the decentralized exchange Uniswap, has recently been hacked, resulting in the loss of around $560,000 in user funds. We track what transpired and discuss the risks that come with using trading bots. Read the report here.
How a Fantom trader turned $116K into $1M in WBTC
The 0xScope team investigates an arbitrage play that essentially turned $116,000 in FTM tokens into about $1M in Wrapped Bitcoin, thanks to the supposedly defunct bridge Multichain. Read the story here.
Floki-made meme coin brings top profits, controversy
In this week's Smart Money report, we highlight the millions in profits from the recent, controversial $TOKEN meme coin launch, as well as an investor that earned $132K by buying more $JOE tokens despite a sell-off due to the Unibot hack. Read this report.
Bullish crypto week results in $8.8B TVL boost
Amid a bullish week for crypto, Web3 platforms gained $8.8B in TVLs. Ethereum accounted for $6.68B, with Lido contributing $2.67B. Bitcoin's bull run added $1.3B to Wrapped Bitcoin's TVL, while the Arbitrum Odyssey campaign resulted in healthy user growth numbers for projects such as TofuNFT and Abroad Exchange. More trends here.
On-chain Data
Exchanges see slower asset increases
In the past week, the prices of $BTC and $ETH have experienced relatively calm fluctuations. Every day, several tokens have seen substantial increases in value, but these gains have not lasted for an extended period. Data from various exchanges also show a relatively steady increase, with Kucoin and Deribit leading the way, experiencing gains of 5.79% and 5.72%, respectively.
Token cliff unlocks for HFT, SUI, GAL next week
In the upcoming week, there is a notable token unlock schedule to watch out for: HFT, which is set to unlock a significant amount, totaling 45.77 million HFT, equivalent to 74% of the current circulating supply. These unlocked tokens primarily belong to early investors, the core team, and ecosystem developers. If you hold HFT, it's crucial to consider the potential price fluctuations near November 7. Additionally, both SUI and GAL will also experience relatively substantial unlocks, with 16.01 million and 7.14 million tokens unlocking 1 and 3 days from now, respectively. If you're a supporter of these tokens, please be mindful of potential price fluctuations in the days to come, and follow the 0xScope Twitter account for more information.
Company Announcement
Be the next Scopescan Ambassador!
0xScope is looking for talent! Passionate about growing your community and showcasing your investigation skills? Become a Scopescan Ambassador, lead the charge, and get a chance to be featured here! If you think you are a good fit or know somebody who is, please reach out at hr@0xscope.com.
Scopescan Community Highlights This Week
Quick Bites
Bitcoin options data highlights traders’ belief in further BTC price upside - LINK
Bankman-Fried concedes that Alameda enjoyed ‘special privileges’ with FTX - LINK
Millions in altcoins sent from FTX and Alameda Research wallets to exchanges - LINK
Onyx Protocol exploiter begins siphoning $2.1M loot on Tornado Cash - LINK
SEC served PayPal subpoena 'relating' to firm's stablecoin - LINK
Good info!