Interestingly, today is the biggest day $BNB got net borrowed on Venus Protocol in a week, at 23K ($5M) This is presumably used to short. $BNB Netflow to Binance is also positive with 50K ($11M), also the highest this week. Data on This account is idel

THE WEEKLY WHALE #01 This week, we will begin with a new on-chain series to uncover new trends and project alpha in the space. For the first edition, we focus on Binance, L2 activity, and on-chain accumulation of several projects. Let's dig in 👇

Within 1 month, Bitfinex has moved a total of 860K $ETH ($1B) to 30+ newly created wallets. They all have only one received transaction from the exchange, and nothing else. Either a massive whale is accumulating hard, or Bitfinex is doing something weird.

7 hours ago, wallet 0x2e3 deposited 4,6M $MATIC ($3,7M) to Binance to take profit. It received from multiple wallets which bought on Binance in 2019 (around $0,01 - $0,015). The use of fresh wallets to accumulate also indicates a sophisticated investor. Better watch out!

On Dec 20th, 0xd33 unstaked a record 9,1M $DYDX ($11M) from the safety pool. I believe this is a wallet of Wintermute Trading. It then sent all to 0x2a9, followed by 1,3M $DYDX to 0xdbf which is tagged by Nansen 🧭 as Wintermute. Are they preparing to sell?

$PLS of plutus_old continues to be accumulated hard. 0x0db, a Smart NFT Hodler, has been buying since Dec 12th, with total balance of 145K (40K) 0xc1a has bought 161K ($43K) since Dec 15th on 1inch. 0x276 got 103K ($27K) in three days from Dec 18th to 20th.

An unknown VC has been depositing 1M $UNI ($5,2M) to FalconX in the past week. They received 9M $UNI on Mar 6, 2021 (worth $250M then) through unlock. After holding it for 1,5 years in multiple wallets, this is the first time they send it to an exchange.

Token unlock is and will remain a hot topic in 2023. Today, I will take a look at the monthly unlock of $C98 of Coin98 Super Wallet. Are the VC and investors dumping or hodling? 👇 Data by Nansen 🧭

After a month of accumulating $HFT of hashflow from exchanges, Jump has deposited again. In the last 8 hours, they have sent 750K ($230K) to Binance and Bybit. The amount is not much but this could indicate more selling in the upcoming days.

ONCHAIN GEM: Stryke (Formerly Dopex) $DPX is currently receiving a lot of attention in the Arbitrum ecosystem. Similar to $GMX, I am seeing some strong accumulation. Let's dive deeper into the data 👇

2 hours ago, the fourth largest $APE staker, sent 600K ($2,1M) to Binance. This is partly the reward from staking, which it accumulated since Dec 15th, at a total of 240K $APE ($850K) The rest is withdrawal from the pool. It still has 2.1M $APE ($7,5M).

1 hour ago, 7 different wallets sent a total of 103K $QNT ($15,5M) to Coinbase 🛡️. They have the same behaviors, first accumulated in Jul, 2021 (entry around $70 - $72) With an average 24H volume of $20M, this could severely impact the price.

Another one has deposited 20K $QNT ($2M) to Binance. This wallet is different from the 7 wallets I notified two hours ago, as it just bought $QNT 3 days ago (entry $115) If sold now, it will suffer a loss of 11%.

With the recent hype for LSD, one wallet has been increasingly dumping $LDO on DEX. Today, it has sold a total of 1.3M, with another large selling on Dec 27th at the local top. This wallet received 25M $LDO ($26M) unlocked on Dec 18th, 2020.

Found out some more $LDO vesting recipients using the pump to take profit. 0xf89 received 3,5M from another wallet and continued to dump on DEX for a total of 500K today. 0x1f38 has also deposited 900M $LDO to Binance since Dec 2022, with 300K yesterday.

Spotted Arca buying $GMX from 1inch and Uniswap Labs 🦄 since Dec 20. After the GMX Whale was hacked, they accumulated another 8,5K ($350K) Their average entry is around $42.

During large outflow from exchanges, there is always an entity sending millions of stablecoin in (to help?): • For FTX, it is Alameda. • For Binance, they are Wintermute/Jump Trading. • For Huobi, it is Justin Sun. Watching them can give great insights into the situation.

This week, Kraken has unstaked 23,5M $MATIC and deposited it back to the exchange. This is similar to the FTX incidence back in Nov, with 60M outflow in 2 weeks.

4 hours ago, Framework Ventures deposited 99M $GRT ($7M) to GSR immediately after receiving token vesting. They also unlocked 4,8M $DODO ($500K) and then sent it to FalconX.

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