0xScope Newsletter #26: Whale Action After $ARB ATH
Also: Scopechat reveals plans for new trading-oriented features, plus 0xScope's Smart Money analysis, notable token unlocks, exchange asset flows, and more.
Research
Scoped on Scopescan: Whale activity after Arbitrum’s ATH
Arbitrum started the year strong by hitting its all-time high of $1.90 on January 4. Here are some of the major market movements observed by the 0xScope team on Scopescan, some of which are connected to Arbitrum’s milestone:
Whale 0x6244 has accumulated 2.6M $ARB ($5.2M) from Coinbase.
Wintermute transferred $5.7M worth of $ARB to OKX.
In other news, Upbit shifted 7.3M $POWR tokens ($4.1M) to Binance. Soon after, the price of $POWR recovered and grew some more.
BitMEX founder Arthur Hayes minted $735K worth of $USDe stablecoins with 310 $wETH and staked them. He now holds 1.7M $sUSDe.
Don’t miss out on the latest whale movements. Sign up for Scopescan here.
Smart Money: BTC DeFi project, crypto index fund start 2024 on top
Newly created BTC ecosystem DeFi project Ordiswap ($ORDS) brings $15.6K in profits/investor.
Crypto index fund project Peapods Finance ($PEAS) sees 9.7x growth in 2 weeks, leading to $15K in average profits.
Arbitrum ($ARB) becomes 1st Layer-2 to reach $10B in TVL, rewards holders with $14.1K in per-investor earnings.
Floor Protocol ($FLC) trader nets $274K on quick buy-low, sell-high deals.
High-frequency $ORDS trader earns $91K in 1 week.
On-chain Data
Major exchanges start 2024 with notable asset outflows
This week, all major exchanges saw net asset outflows, except for Bitget, which grew its assets by 1.26%. Binance US and Kucoin saw the heaviest losses, at -10.95% and -8.49% respectively, while Binance’s 1.99% loss this week amounted to $1.6B.
Token cliff unlocks for GAL, HFT, and APT next week
In the upcoming week, you should pay attention to the unlocking of $6.07M worth of GAL tokens (3.34% of circulating supply) on January 5, followed by HFT’s $4.97M unlocking (4.76%) on January 7. But the biggest token cliff will come from APT, which will unlock $225.82M of its tokens (8.06%) on January 12.
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
Upcoming Changes to Scopechat: Trader-Focused Features
Scopechat is continuously upgrading to prepare for a bigger launch soon. The 0xScope team has unveiled a slate of updates that will boost Scopechat’s value as the ultimate AI trading companion. Read about these new upcoming enhancements here.
Make better trading decisions soon, join the Scopechat waitlist.
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
Spot Bitcoin ETFs could be rejected if the SEC wants ‘more time,’ says analyst - LINK
Bitcoin’s 5% plunge triggers $500M in liquidations - LINK
Vitalik Buterin outlines plans to ‘make Ethereum cypherpunk again’ - LINK
Crypto investment products saw $2.2B total inflows in 2023 - LINK
Hackers raided crypto for $1.7B in 2023 - LINK