0xScope Newsletter #41: 0xScope Supports Blast
0xScope Newsletter #41: 0xScope Supports Blast
Also: We scoped Binance's SAFU Wallet conversion, a $26.5B bloodbath on exchange assets, and more alpha from recent whale moves.
Research
Blast Launches on 0xScope
0xScope has recently launched support for Blast, an Ethereum Layer-2 scaling solution from the team that created NFT marketplace Blur, on Scopechat and Scopescan.
What you need to know about Blast based on Scopescan and Scopechat data:
🚀 Blast launched its mainnet on February 29, 2024, and it has since grown into one of the Top 10 protocols by TVL.
🔎 The biggest project based on TVL is Juice Finance, which boosted its TVL from $191M to $374M in just 1 day (April 9).
💸 The top gas spender and consumer addresses are associated with Blast-based DEX Blitz.
💸 $340M in $DAI, $USDT, $USDC is bridged to Blast
Learn more about our support of Blast in this article.
Scoped on Scopescan: Binance Converts $1B $BTC SAFU Fund to $USDC
In 2022, Binance sent a total of 16.277K $BTC, which was worth around $450M at the time, to the Bitcoin wallet for their SAFU Fund. Earlier today, the exchange sent that entire fund, now worth $1.01B, to its own hot wallet. The $1B SAFU is now all in $USDC on Ethereum.
Here are other notable whale transactions this past week:
On April 11, Pac Finance, a lending protocol on Blast, changed the ezETH LTV without notice and caused a $25M liquidation.
On April 15, Vitalik transferred 100 $ETH ($330K) to private DeFi protocol Railgun. Its $RAIL token jumped 40% 1 hour after. A whale
On April 16, a new wallet got 7.9M $STRK ($10.5M) from Coinbase Prime.
The day before, $STRK, which had gone down 50% since launch, unlocked 64M tokens.
On April 17, DWF Labs deposited $10.8M worth of $ID to OKX, withdrew $8.2M from Binance, Kucoin, and Bybit, then deposit $9.2M more to OKX. During that period, $ID’s value rose by 10%.
On April 18, a whale withdrew 21K $ETH ($64.7M) from Binance and bought $10.05M worth of $ETH from 1inch at $2,985 per $ETH. Currently, this whale holds $541M of $ETH and some other tokens.
Don’t miss out on the latest whale movements. Sign up for Scopescan here.
Smart Money’s Token Picks, Powered by Scopechat
Over the past 30 days, Smart Money addresses (the top 100 addresses by portfolio growth) scored a 280% ROI compared with $BTC's -6%. These addresses are 97% filled with altcoins, and according to Scopechat data, they are mostly holding the following tokens: $APU, $ANDY, $BITCOIN (a meme coin that shouldn’t be confused with $BTC), $DSync, and… $ETH.
On-chain Data
CEXes see $26.5B bloodbath, double-digit losses.
Over the past 7 days, recent geopolitical events have likely caused a market panic that sent Bitcoin down from $71,000 to as low as $60,000. The total crypto market cap crashed by $394B, and exchanges saw $26.5B go out of their platforms. Three exchanges lost more than 20% of their assets: Crypto.com (-22.51%), Kraken (-20.37%), and HTX (-20.28%). Market leaders Binance (-12.81% and OKX (-10.29%) were the least affected, but those relatively low percentages translate to net outflows of $13.5B and $2.8B, respectively.
Upcoming token unlocks for $DAO, $ID
This week, token unlocks are relatively tame compared to last week’s $544M extravaganza between $APT, $ARB, and $AXS, but you still have to watch out for the $12.87M unlock by $ID on April 22, followed by the bigger $16.11M unlock from $DAO on April 24.
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
Subscribe to Scopechat Pro
Scopechat Pro is our new membership system for a next-level AI-powered crypto trading experience. With Scopechat Pro, you can enjoy the following benefits for as little as $14/month for the annual plan!
Subscribe to Scopechat Pro today! Pay using your credit card or your Scopepoints.
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.
Quick Bites
Bitcoin and other cryptocurrencies tumble amid Middle East tensions - LINK
Bitcoin dominance increases as halving nears and BTC price lingers near $61K - LINK
Hong Kong regulators approve launch of spot bitcoin and ether ETFs - LINK
Binance gets Dubai crypto license following CZ’s departure - LINK
Bitcoin supply to run out on exchanges in 9 months: Bybit - LINK