0xScope Newsletter #30: Celsius dealing with whales?
Also: The impact of $WEN and $JUP airdrops to Smart Money investors, the latest hot trends about Web3, and more.
Research
Scoped on Scopescan: Celsius dealing with whales?
Celsius recently exited bankruptcy and is starting to pay back the $3B it owed to its creditors. Coinbase has been tapped as a creditor distribution channel, and possible transactions related to this process include:
Last week’s transfer of 18K $ETH ($40M) to FalconX and Coinbase.
A transfer of 459.6K ETH ($1.02B) from Celsius to different entities. This likely includes a 343.08K $ETH ($756M) transfer to Coinbase.
The creation of 9 new addresses, which withdrew 343.08K $ETH ($756M) from Coinbase Prime
Another withdrawal from Coinbase Prime, this time worth 109,843 $ETH ($245M) to another set of 9 new wallets.
Here are other major whale moves this past week, as detected by the Scopescan team:
Whale 0xd615, which took out $500M in $USDC from Binance last week, has taken $200M more.
Whale 0x237b deposited 15M $USDT to Binance and withdrew 6,507 $ETH from it.
Spartan Group deposited 1.97M $PENDLE ($5.42M) to Binance
Don’t miss out on the latest whale movements. Sign up for Scopescan here.
Despite WEN hype, another meme coin takes top spot
🏆 Meme token $PNDC delivers $2.45M in total profits, while newly-launched relative (and $PEPE fork) $PORK brings in $1.6M.
🤖 AI project BIttensor's $wTAO hits new all-time high, leading to $1.72M in total profits
🪂 Solana's airdrop tokens $WEN and $JUP record huge ROIs (196.70% and 223.52%, respectively)
📈 $API3 trader earns $431K by flipping when the token jumped from $2 to $3
Solana's TVL jumps $555M amid good week for Ethereum rivals
🚀 This week, Web3 TVL rose by $1.3B to $103.9B. Solana added $555.4M to its TVL after its recent $WEN airdrop.
📈 Sui Network increased its TVL by 36.97% as its native $SUI token hit a new high
🏆 More Ethereum rivals shine: Tron (+$208.8M in TVL), BNB Chain (+$202.7M), Avalanche (+$127.5M)
📉 Uniswap weekly volume dropped by $1.27B, now competing fiercely with Solana-based Jupiter Exchange
Read more Web3 Hot Trends here.
Also, get fast answers to your crypto trading questions on the go with Scopechat. Sign up for a Scopechat account now to get more answers, and for easier access, here's how you can pin Scopechat to your phone's home screen. Here's what Scopechat’s mobile version has to say about $SUI:
On-chain Data
Small exchanges outpace bigger rivals in net inflows
Several major exchanges saw net asset inflows this week, reversing the downtrend from the previous two weeks. Leading the charge in terms of inflows are relatively smaller exchanges like Binance US (+12.30%) and Deribit (+7.89%), although bigger rivals such as Bitfinex and OKX also saw healthy growth at 5.03% and 4.99%, respectively. The only major exchanges with small outflows are Kucoin (-0.59%) and Huobi (-0.36%).
Token cliff unlocks for SUI, NYM, GAL next week
In the upcoming week, you should pay attention to the unlocking of $8.64M worth of NYM tokens (7.13% of circulating supply) on February 2, followed by the bigger unlocking of $51.58M worth of SUI tokens (3.14%) on February 3 and $9.11M worth of GAL tokens (5.76%) on February 5.
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.
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0xScope Community Highlights This Week
Quick Bites
Celsius exits bankruptcy, commences return of over $3B to creditors - LINK
Tether posted record $2.85B profit in Q4, driven by T-bills - LINK
Hackers steal $112 million of XRP Ripple cryptocurrency - LINK
Visa, Transak to provide crypto-to-fiat withdrawals in 145 countries - LINK
Solana stablecoin volume just hit a record $144bn. Or did it? - LINK