December 7, 2023
Smart Money

AI, GameFi tokens rise, delivering top profits

Scopescan’s Smart Money feature reveals the entities that consistently manage to extract value through unconventional trades. In this report, we will unveil the array of actions undertaken by these astute investors over the past week, with the aim that you glean insights that may prove illuminating.

The data presented in this article is derived solely from Smart Money transactions from December 1 to 7, 2023. This implies that any purchases and holdings made before December 1 are not taken into consideration.

Smart Money’s Top Performing Tokens

Here are the tokens through which Smart Money has captured the most value this week. The tokens are ranked based on Smart Money’s profit amounts.

The main stories this week are the prominence of AI tokens in the rankings, with Aurora ($AURORA) topping our list of top-performing tokens based on profits per address is $AURORA, which recently reached 1 million monthly active users on its platform after launching its plug-and-play blockchain service Aurora Cloud Console last week. The token saw as much as 4x growth over the past 7 days, resulting in an average of $38,668.17 in profits for the 6 Smart Money addresses that bought the token. Its low 7-day realized percentage of 16.18% indicates that the project's investors are still bullish on the token.

GameFi is also well-represented in this week's rankings, with blockchain gaming project Big Time ($BIGTIME) taking the No. 3 spot after 28 Smart Money investors averaged $28,817.94 in profits from the token this week. $BIGTIME had a volatile week in the markets, swinging from $0.21 to as much as $0.94, before settling down at $0.64 to close the period. This market volatility resulted in the liquidation of $12M in futures trading on $BIGTIME.

In terms of total profits, two tokens stood out this week: $MUBI with $5M and Agoras ($AGRS) with $4.9M.

$MUBI, a token bridge project that supports cross-network transfers between BRC20 and ERC20 tokens, saw its token value jump 3x this week, bringing an average of $24,374.47 in profits for 205 Smart Money addresses. However, its 7-day realized percentage of 34.33% and net outflows of $879,938 likely indicate that many of the addresses have already cashed out of their $MUBI investment.

Meanwhile, AI project $AGRS recently secured a provisional patent for decentralized governance systems. This update, among a few other catalysts, sent $AGRS up by 275% this week, resulting in $28,638.13 worth of average profits for 170 Smart Money addresses that have the token in their portfolios.

In this edition of the Smart Money Weekly report, we have also dedicated a separate table for the top meme coins this week

This week, some old meme tokens have seen a resurgence in price, with $DOGE and its related tokens like $SHIB and $DOG all experiencing notable gains. Additionally, tokens like $PEPE and its counterpart $PEPECOIN, along with $BITCOIN, have shown positive movements this week. We also observed a token called $D/ACC, a concept proposed by Ethereum founder Vitalik Buterin, with support from the official Worldcoin account for the $D/ACC concept.

Smart Money Addresses to Watch This Week

The 0xScope team has created an Entity Dashboard where you can see the actions and holdings of this week's top 100 Smart Money addresses based on total profits. Currently, the top 3 altcoin holdings in these addresses are $AGRS ($1.83M), $OLAS ($1.619M), and $MUBI ($1.344M).

Let's take a closer look at some of the Smart Money investors worth watching this week:

0x36cc started accumulating $AGRS tokens in late November at price points below $2. Aside from a couple of sale transactions, this address benefited from the rapid rise in the token's value, which means that it gained most of its $428,000 in profits from the appreciation of $AGRS to as much as $8.

Meanwhile, the top Smart Money address that benefited from $MUBI's rise is 0x3555, whose frequent purchases of the token from November 30 to December 4 resulted in $417,000 in profits, mainly thanks to the token's quick resurgence.

Big-time profits also came for $BIGTIME investor 0x8d77, who bought the GameFi project's tokens from Kucoin and Bitget at $0.20, Once $BIGTIME reached 3x growth on December 3, the investor promptly sold all of its holdings, netting a total of $188,000 in profits.

The top beneficiary from $AURORA's rise this week is 0x948d, which purchased $89,000 worth of tokens from and MEXC on December 1. Three days later, in the middle of $AURORA's bull run, the address sold off all of its tokens in the AI project, resulting in $154,000 worth of profits.

Notes and Disclaimers

Crypto assets included in the Top Performing Tokens list are ranked based on the average profit amount generated by a Smart Money address on a specific token. The 0xScope team implemented this methodology on November 9, 2023. Previous Smart Money articles ranked tokens based on total profits per week.

This report is based on sources believed to be reliable, but we cannot guarantee its accuracy or completeness and are not liable for any losses arising from its use. It provides general information only and should not be seen as investment advice; users must make their own investment decisions.

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