Insights Pulse Insights

Aug 11

What do the "Sharks" eat? 11-08-23, 15:44

This is a follow up to a User Behavior Indicator introduced earlier.

Long story short, we keep an eye on a group of "sharks" in stablecoins, the ones holding $10K-$100K in USDT and USDC:

Did they buy the dip, did they sold the top? What did they swap their stables to?

We did a short research and found out that the recent decline in both stablecoin holdings is connected with the following moves:

44% – Sent to CEX

7% – Swapped to ETH

7% – Deposited into Aave as collateral

4% – Swapped to RLB

3% – Swapped to DAI, deposited into Maker

3% – Swapped to USDC, opened leveraged positions on dYdX

Other transactions were either wallets reshuffling or unclear.

Aug 7

Atypical USDT depeg 7-08-23, 11:46
Age consumed of USDT on ETH chain

You can see that during all major USDT depegs in the past, there were massive spikes of Age Consumed, meaning a lot of previously dormant coins got moving on-chain. But this time it's quieter than even, no major movements can be noticed. What could be the reason behind this lack of movement? Is no-one interested in capturing some arbitrage?

Jul 24

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