0xScope Newsletter #29: Scopechat is #1 on Product Hunt
Also: A single whale takes out $500M from Binance, the latest hot trends on Smart Money + Web3, and more.
Scopechat is the #1 Product of the Day on Product Hunt!
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Research
Scoped on Scopescan: Single whale takes out $500M from Binance
Here are some major whale moves this past week, as detected by the Scopescan team:
Whale 0xd615 takes out $500M in $USDC from Binance in 2 transactions ($300M and $200M)
Celsius transferred 18K $ETH ($40M) to FalconX and Coinbase.
Justin Sun withdrew 71K $XVS ($805K) from Binance. In the past 7 days, he received 621K $XVS ($7.1M) from Binance in total.
Whale 0xf38f withdrew a total of 13.35K $ETH ($32.5M) from Coinbase.
Don’t miss out on the latest whale movements. Sign up for Scopescan here.
RWA project beats meme coins after Asia expansion
🏆 This week’s top token for Smart Money is RWA project Ondo Finance, which just expanded in Asia & brought in $1.05M in profits for $ONDO investors.
🙃 Profitable meme coins this week include $TWEETY ($940K in total profits), Blackrocktradingcurrency ($859K) & $PNDC ($436K)
📈 Top trader buys $355K in $ONDO, earns $153K
🚀 Meme coin traders profit from $TWEETY ($146K), $DOG ($128K)
Also, check out this comprehensive report on $ONDO from Scopechat:
Few bright spots emerge as Web3 loses $6.4B in TVL
📉 This week, Web3 TVL shrinks by $6.4B to $100.6B, as $BTC retracts to $40K and Ethereum loses $4.4B in TVL.
📈 PulseChain grows its TVL by 2.5x in 2 weeks, from $148M to $373M.
🏆 Curve Finance leads TVL growth on both Ethereum (+$320.4M) & Arbitrum (+$49.4M) amid slow week for Web3 projects
📊 Raydium increases its weekly volume by $507.6M, while Solana & Curve Finance added $1M & $940K to their weekly fee earnings, respectively.
♟ Polygon-based chess game Anichess sees 7x user growth, while 4 more Polygon projects see healthy growth as well.
Read more Web3 Hot Trends here.
On-chain Data
Major exchanges continue shedding assets amid market correction
This week, all major exchanges saw significant net asset outflows for the second straight week, led by Huobi with -13.53% and Huobi with -12.20%. Bitget was the exchange with the fewest proportional losses at -4.20%. This downtrend coincides with Bitcoin’s retreat to $40,000 in recent days, which dragged the industry downward.
Token cliff unlocks for YGG, OP, DYDX next week
In the upcoming week, you should pay attention to the unlocking of $7.11M worth of YGG tokens (5.83% of circulating supply) on January 27, followed by the unlocking of $68.37M worth of OP tokens (2.52%) on January 30 and $87.67M worth of DYDX tokens (10.64%) on February 1.
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 Announcements
Let’s work on Web3 + AI with the 0xScope Web3 AI Data Layer
With 0xScope V2, we are focusing on driving the future of AI + Web3, with our Web3 AI Data Layer. This new solution features a complete set of standards for collecting, cleaning, and managing data for Web3 AI development, as well as a trained, Web3-centric large language model (LLM). Read more about it in this Cointelegraph article.
Let’s work together; email us at community@0xscope.com.
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
GBTC outflows slow for second straight day - LINK
Bitcoin-based ‘rival’ to modern stablecoins to emerge soon, says Coinshares - LINK
Coinbase falls after JPMorgan downgrades stock to underweight on disappointing Bitcoin ETF catalyst - LINK
FTX sold about $1B of Grayscale's Bitcoin ETF, explaining much of outflow - LINK
Liquid restaking emerges as new $600m DeFi sector - LINK
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