October 5, 2023
Smart Money

Meme, gambling tokens pad Smart Money earnings

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 during the period of September 28 to October 5, 2023. This implies that any purchases and holdings made prior to September 21 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's Smart Money top performing tokens list is dominated by meme coins, but the leading token right now is Rollbit Coin ($RLB), a crypto gambling token that had led our rankings three weeks ago. Rollbit recently disclosed that it earned $38 million in revenues last month. The project also burned over $5M worth of $RLB, more than 1.2% of the token's circulating supply, as part of its long-term buy and burn program. This buyback likely contributed to $3M in $RLB outflows from token holders. The 58 Smart Money addresses that held $RLB earned $310,298.95 in profits due to a good week for the crypto casino token.

Six out of 10 tokens on our list are meme tokens, with Pepe ($PEPE) being the best performing one for Smart Money with a No. 2 finish in this week's rankings. Pepe's rise is said to be connected to the launch of Web3 gaming platform Meme Kombat, which is associated with the meme token and has raised $165,000 during its presale. The 63 Smart Money addresses that owned $PEPE tokens collectively earned $114,381.82 in profits, at an average ROI of 57.36%.

Coming in at No. 3 is Ethereum Express ($ETE), an Ethereum copycat that is aiming to build its own Layer 1 network, blockchain explorer, and wallet. The 18 Smart Money addresses that owned $ETE tokens saw cumulative profits worth $89,016.18 this week at an average ROI of 37.58%

Smart Money Addresses to Watch This Week

Let's take a look at some of the Smart Money trades that have occurred this week.

The top two Smart Money addresses this week, 0x1177 and 0xc73a, bet big on $RLB and won big profits-wise. A total of 12 Smart Money addresses cited $RLB as their most profitable token this week.

0x1177 has a pretty brief but active history of stacking and then selling $RLB tokens, adding $RLB to its portfolio just two weeks ago. The address received $973,000 worth of tokens on Sept. 23 and sold $349,000 of $RLB three days later. 0x1177 then added $543,000 of $RLB to its portfolio on Sept. 27-28, before sending $1.3M worth of $RLB tokens to 0x24bb on Oct. 3. The next day, 0x24bb sent back $786,000 in $RLB to 0x1177, which promptly exited its position in the token through several sell transactions worth a total of $747,000. As a result of these deals, 0x1177 earned $121,000 in profit, accounting for more than 33% of total profits earned by Smart Money addresses from $RLB After exiting $RLB, the address still retains holdings in Unibot ($UNIBOT), AimBot ($AIMBOT), and Blacksmith Token ($BS).

Meanwhile, 0xc73a appears to be more of a HODLer of $RLB, with a history of featuring the token in its portfolio as early as July 8. At the moment, the address owned $117,000 worth of $RLB tokens. Its most recent transactions involving $RLB include three separate buy orders worth about $200,000 on Oct. 2 and a $120,000 sell-off two days later at a higher price point compared to the buy orders. As a result, 0xc73a profited $56,000 this week. Its only other sizeable holding is in Tether USDT ($USDT), with about $226,000 worth of tokens stored.

Meanwhile, the Smart Money address with the third-highest profit recorded this week is 0x0a8f, which mainly owed its $46,000 in profit gains to $PEPE. The address turned $465,000 worth of $USDC into 629.24B $PEPE tokens on Sept. 29. Four days later, 0x0a8f exited its $PEPE position with a $490,000 sell-off.



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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