December 21, 2023
Smart Money

Bitcoin ecosystem gives traders a happy holiday

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 15 to 21, 2023. This implies that any purchases and holdings made before December 8 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.

This week, 4 of the top 10 tokens on our list are from projects within the increasingly popular Bitcoin ecosystem. Taking the top spot is Bounce ($AUCTION), whose Bounce Launchpad debuted the $BDID token from Ordinal DIDs (decentralized IDs) project GoDID. As part of the $BDID token launch, Bounce distributed $BDID tokens to $AUCTION holders who staked their tokens on Multibit Bridge, therefore increasing the demand for the Bounce-made token. This activity is likely a major catalyst for the 84.2% bounce in $AUCTION's price over the past 7 days, bringing an average of $96,664.90 in profits (and a happy holiday season) for the 86 Smart Money addresses that hold the token. That's $8.3M in total profits.

Other Bitcoin ecosystem tokens that are bringing additional holiday celebrations are:

- Bitcoin Layer-2 platform MAP Protocol ($MAP), whose 69.5% rise this week resulted in $25,275.95 worth of average profits for 33 Smart Money investors.

- Token bridge Multibit ($MUBI), which parlayed a recent Bitget listing and increased activity from the $BDID token launch into a 126.2% price increase for the token and, in turn, $18,068.19 of profits on average for 108 Smart Money holders.

- Stablecoin-generating DeFi project BitStable ($BSSB), which also allowed its token to be staked on Multibit for $BDID earning. The token's 106 Smart Money investors gained an average of $14,970.18 in earnings this week.

Following $AUCTION in this week's rankings is DeFi project Syncus ($SYNC), which started trading on December 13 and has since skyrocketed by 5,834.8%. This treasury-backed staking protocol delivered a 7-day average ROI of 625.85% to 169 Smart Money investors, who each earned an average of $30,429.63 from buying and holding $SYNC.

The third-best performing token for Smart Money is the Sam Altman-led digital identity token Worldcoin ($WLD), which recently added integrations with Shopify, Minecraft, and Reddit and was rumored to seek $50M in funding for the project. Despite shutting down its iris-scanning operations in India, Brazil, and France, $WLD still saw a healthy 40.5% price growth this week, bringing an average of $28,875.58 in profits to 33 Smart Money addresses.

Meanwhile, the top profit-generating meme coin this week is Pepecoin ($PEPECOIN), which saw its token value skyrocket 423% over the past 7 days. 69 Smart Money addresses took advantage of this pump, earning an average of $17,287.81 in profits from $PEPECOIN, at a 7-day average ROI of 154.27%.

Smart Money Addresses to Watch This Week

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

- 0xbd8c, a frequent $WLD trader whose 54,553.529 $WLD holdings appreciated in value by almost 70%, largely contributing to a profit of $1.5M, topping even the biggest Smart Money gainers from $AUCTION.

- 0xad94, an $AUCTION whale that currently has 54,805.66 $AUCTION tokens staked on Multibit. This address spent an average of $20.94 for its $AUCTION tokens, or $1.15M in total. The investor, whose $AUCTION portfolio is now worth $2.55M, earned $1.3M this week.

- 0x1234, 0xd9b7, 0xb5f2, 0xe06f, and 0x3bc5, whose $AUCTION holdings brought them between $498,000 and $695,000 in profits this week. All of these addresses also hold Bitcoin ecosystem tokens such as $MUBI and $BSSB. These five wallets, plus the wallet above that earned $1.3M, are worth watching if you want to keep track of the latest Smart Money moves in the Bitcoin ecosystem.

- 0x4f18, which spent 10 $ETH ($22,428.60) on 73.6M $SYNC tokens on December 16. The next day, the investor sent its entire stash of $SYNC tokens, by then worth $189,000, to another wallet. This address, which frequently trades several meme coins among other altcoins, earned $471,000 this week, a huge chunk of which came from its bet on $SYNC.

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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