January 4, 2024
Smart Money

BTC DeFi project, crypto index fund start 2024 on top

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 29, 2023, to January 4, 2024. This implies that any purchases and holdings made before December 29, 2023, 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.

New DeFi project on Bitcoin ecosystem takes the top spot.

The most profitable token for Smart Money investors at the beginning of 2014 was Ordiswap ($ORDS), which launched on December 28, 2023, as Bitcoin's first ever AMM (automated market maker) for swapping BRC-20 assets. Amid a slate of new listings on mid-size crypto exchanges and the ongoing hype that has been propelling BTC ecosystem projects upward over the past few months, $ORDS went up from $0.04 to as much as $0.09 over the past week. The 63 $ORDS traders among Smart Money addresses ended up earning an average of $15,582.38 from acting early on the launch of this new BTC DeFi project, at a 7-day average ROI of 64.30%.

Crypto index fund project sees 9.7x growth in 2 weeks

Another DeFi project came quite close to outperforming $ORDS this week: Peapods Finance ($PEAS), a DeFi platform that offers decentralized on-chain yield-bearing index funds called "pods". The project's token holders mainly benefited from a two-week, 966.1% price rally, including a 264.9% rise over the past 7 days. The 65 Smart Money investors that bought $PEAS have been rewarded with an average profit of $15,086.98 at an average ROI of 159.42%.

Arbitrum's $10B TVL milestone leads to high profits.

Arbitrum ($ARB), one of the leading Ethereum Layer-2 platforms today, recently went up to $10.32B in TVL (total value locked) after a 16.49% boost over the past week, making it the first Layer-2 network to reach the $10B TVL mark. The price of $ARB also went up by 21.2%, contributing to the $14,173.61 in average profits gained by the 12 Smart Money addresses that owned the token this week.

Smart Money Addresses to Watch This Week

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

- 0x943c, which was the leading profit-gainer among Smart Money addresses last week with $274,000 in earnings. On January 3, this address spent $71,000 on 4.3M Flooring Lab Credit ($FLC) tokens of the NFT trading platform Floor Protocol at $0.018 or below. Hours after the transactions, $FLC skyrocketed to as much as $0.0035, prompting this trader to sell about 2M $FLC tokens near the peak of the rally. The address still has 2M $FLC.

- 0xf399, 0xb822, and 0x4d5b, which took home between $113,000 and $151,000 from trading $FLC. Notably, 0xf399 and 0x4d5b bought millions of $FLC tokens around the same time as 0x943c, and both addresses also sold much of their $FLC holdings near the token's top price this week.

- 0x70c4, which currently owns 2.8M $ORDS tokens, or 0.28% of the token's total supply, and is the top beneficiary of $ORDS trading this week. Since it received around 3M $ORDS tokens on December 28, 2023, this address made hundreds of buy and sell transactions connected to the token, resulting in total earnings of $91,000.

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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