0xScope Newsletter #24: BTC Ecosystem Brings Millions of Profits to Smart Money

Also: 0xScope's analysis on Web3 hot trends, token unlocks, exchange asset flows, and more.

Dec 21, 2023

Bitcoin ecosystem gives traders a happy holiday

In the latest Smart Money report, BTC ecosystem project Bounce brings $8.3M in total profits, with top traders earning as much as $1.3M. Meanwhile, a Worldcoin holder gained $1.5M, and an early Syncus investor turned 10 $ETH into $189,000 in profits. Read more here.

Solana, Avalanche shine as ETH TVL falls by $909M

Solana leads with a $242.5M TVL boost amid an industry-wide $387.1M loss, while Avalanche, Mantle's ETH staking product, and Base project Seamless Protocol also make notable TVL gains. More trends here.

On-chain Data

Bitget grows, OKX sheds assets

This week, assets on various exchanges have moved in different directions. Binance's assets grew by less than $100M, or just 0.13%. The biggest gainer is Bitget with 8.43% growth, followed by Kraken at 3.98%, while OKX and Crypto.com fell by 7.45% and 4.65%, respectively.

Token cliff unlocks for ID and YGG next week

In the upcoming week, you should pay attention to the unlocking of ID tokens, which is scheduled to occur on December 22, with a value of $5.59M ID tokens, accounting for approximately 4.29% of the current total circulation. Five days after that, YGG will unlock tokens worth $6.38M (5.94% of the circulating supply).

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

Introducing the Scopechat Product Change Log

Want to know what our tech team is doing to make Scopechat your ideal trading assistant? Check out Scopechat's Product Change Log to see the latest fixes & enhancements. For Early Access users, we encourage you to suggest new features through the Scopechat Feedback form.

Be the next 0xScope Ambassador!

0xScope is looking for talent! Passionate about growing your community and showcasing your investigation skills? Become a 0xScope 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.

0xScope Community Highlights This Week

Quick Bites

Bitcoin climbs near $44K as U.S. stocks nurse biggest three-month loss - LINK

Ledger dApp supply chain attack steals $600K from crypto wallets - LINK

US court approves order for Binance to pay $2.7 bln to CFTC - LINK

Ripple, Coinbase, a16z invest $78M in pro-crypto PAC ahead of US elections - LINK

3AC founders slapped with $1B worldwide asset freeze - LINK