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.

Feb 1

Dear Ethereum [ETH] holders, February might be rough 1-02-23, 09:13

It is no longer news that Ether [ETH] had an impressive run in January. Within that 31-day period, the leading altcoin's price rallied by over 30%. The price jump also caused it to trade at levels last seen prior to FTX's unexpected implosion.


However, as profit-taking intensifies, the alt might be gearing up to shed some (if not all) of its gains in February. A look at ETH's Aroon Indicator on the daily chart revealed that bullish sentiment has weakened significantly in the past few weeks. The Aroon Up line was spotted at 21.43%.


Usually, when the Aroon Up line approaches zero, it suggests a weak uptrend and a distant recent high, indicating the possibility of a trend reversal.


Source: TradingView

Also, currently, there is a dearth of new demand to help drive up the alt's price.

Source: Santiment

Dec 21

Anomalies on Optimism 21-12-22, 22:43

Optimism, one of new blockchains with increasing TVL and onchain activity, has shown quite some weird action recently, namely extremely high transaction volume of stablecoins on it:

Source: Sanbase

Average USDT or USDC transaction volume on Optimism is less then $10M. The anomaly above skyrocketed both to above $1B.


Liquidity mining? Washtrading?


We can check token velocity:

Source: Sanbase

Velocity was super high around that days.


Active addresses?

Source: Sanbase

No anomalies in active addresses, only a healthy trend.


Additionally, we can see a similar anomaly on OP token itself:

Source: Sanbase

It also coincided with a top of OP price against BTC and maximal bullishness in crowd.

There is probably some connection, we just don't know which one. Do you?


Keep an eye on Optimism, there a lot of things going on.



Bonus details:

Mar 30

Dec 3