January 25, 2024
Smart Money

RWA project beats meme coins after Asia expansion

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 January 18-25, 2024. This implies that any purchases and holdings made before January 18 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.

Ondo Finance expands to Asia, brings $1M in profits

Real-world assets (RWAs) project Ondo Finance ($ONDO), which offers tokenized securities on U.S.-based asset classes, recently launched its first office in the Asia-Pacific region. Coinciding with this expansion, the RWA project, which claims a 40% share of the tokenized securities market, brought $1.05M in total profits for 141 Smart Money investors of the $ONDO token, or $7,445.31 per address. $ONDO has a 7-day realized percentage of 47.96%, which indicates that almost half of the profits from $ONDO investments have already been cashed out. However, the project still saw net inflows of $1.17M, which means investors are still getting into $ONDO in anticipation of more gains.

Meme coins show staying power despite bearish week for crypto

Three of the top five crypto assets this week based on profitability for Smart Money investors are meme coins, particularly Tweety ($TWEETY), blackrocktradingcurrency ($BTC), and Pond Coin ($PNDC). During a week that saw Bitcoin retreat to $40,000 and drag the rest of the industry downward with it, meme coins have become a refuge of sorts for Smart Money traders seeking profits no matter the market condition.

$TWEETY, a meme coin inspired by the Looney Tunes character of the same name, recently launched NFTs on OpenSea. This week, the token saw its all-time high and went up by 179.2% on average, resulting in total profits of $939,710, or an average of $12,364.60 (at 114.06% ROI) for each of the 76 Smart Money addresses invested in the asset.

Meanwhile, it was only a matter of time before someone made a meme coin out of the recently approved spot Bitcoin ETFs (exchange-traded funds). One such example is blackrocktradingcurrency ($BTC), which saw its value go up from about $20 during its January 19 launch to as much as $94.75 less than a week later. This meme coin delivered $859,095 in total profits to 147 Smart Money addresses, which each took home an average of $5,844.18 at an ROI of 182.38%.

Another meme coin making its mark this week is Pond Coin ($PNDC), which recently launched its PondWater staking product. PondWater has managed to lock up about 50% of $PNDC's circulating supply, while the meme coin more than doubled its price this week (+108.7%). For $PNDC's 97 Smart Money investors, the meme project brought in $435,966 in overall profits this week, or $4,494.50 per address.

DeFi mainstay debuts new oracle-linked product

This week, major DeFi brand Uma ($UMA) introduced Oval, which stands for Oracle Value Aggregation Layer. This new product extracts the value generated from DeFi protocols' consumption of price updates from decentralized oracles like Chainlink. The market responded positively to the new DeFi product, as evident in $UMA's 135.6% hike this week, as well as a total profit of $372,990 for the token's 29 Smart Money investors, which each took home an average of $12,861.72.

More Smart Money Tips

To know more about the latest trending tokens for Smart Money, you can try out Scopechat, our new AI-powered crypto trading assistant. To see more tokens that are attractive to Smart Money at the moment, just open Scopechat, select the Trading Assistant, click "I don't know" as a response to the first question, and select the Whale Tracking and Copy Trading tab to see the list of top performing tokens for Smart Money. You can also see the top buys and sells of Smart Money Investors.

This is a sneak peek of the Smart Money Top Performing Tokens dashboard as of January 25, 4 AM UTC.

Try Scopechat here.

Smart Money Addresses to Watch This Week

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

- 0x0175, which bought about $355,000 worth of $ONDO tokens on January 21, 3 days after the token's launch. This address held on to most of its $ONDO tokens, save for a $212,000 sell-off on January 22. Between the buying spree and the sell-off, $ONDO went up from $0.1935 to $0.255. This address logged a total of $153,245.04 in profits, most of which came from its dealings in $ONDO.

- 0x0e8f, a trader whose entire portfolio right now is in $TWEETY meme coins. Through frequent buy-and-sell transactions between January 19-23, this address ended up accumulating $139,000 worth of $TWEETY tokens, while seeing profits worth $146,460.86 in the process.

- 0x2881, a multi-token trader that took advantage of a buying opportunity for $UMA tokens when it was still at $2.31 and or below on January 19. This address spent $47,000 on $UMA and saw the token price increase to as much as $6.95 over the rest of the week, making the DeFi token responsible for much of the investor's $144,545.14 in profits this week.

- 0x6bc8 is another meme coin trader to watch, mainly for its great timing in buying then selling The Doge NFT ($DOG) tokens. This trader accumulated $306,000 worth of $DOG tokens on January 21, around the time when the token increased from $0.0026 to as much as $0.0036. The next day, this address sold off all its $DOG tokens for $381,000, which became the source of much of its $127,788.06 profit this week. This address also holds a significant amount of TOPIA ($TOPIA) and OmniCat ($OMN) meme coins.

Notes and Disclaimers

Crypto assets included in the Top Performing Tokens list are ranked 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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