$RLB is 🔥
This whale (0x83d6474e18215bfe7a101e37e9e2a746570b6834) accumulated 10.9M RLB tokens on-chain, spending a total of $2.136M, in just a short 2 hour period.
$RLB is one of the top bought token according to ChainEdge ..
An update 49% days later 👀 my YT_GLP leverage
I bought the YT_GLP with an implied APR at 8,043% Now trading at 10,86% and, also receive leverage yield during these 49 days
Am I guccy ?
Not really. Here what I have learn : YT are paying yield for PT in the GLP case, the implied APY (YT) is largely above the underlying APY That means, the cost to maintain PT yield is really expensive for YT holders. During several days / weeks, we had YT long yield APY at -90%, so your YT_holding will lost 90% of its value in one year if the implied vs underlying APY remains the same, excluding leverage yield earned
Even if you earn leverage yield and the YT price is slowly increasing, the longer you hold a position where implied >>>> underluying APY, the most you bag will lost in value
- you have to consider the high fees and slippage when you trade YT tokens on Pendle
In my case, after a +2,43% on the YT_GLP, after 49 days, my bag is at BE Fortunately, I have earned 10% ROI of real yield in ETH
I have always trade PT/YT for a short period before (7-14 days), and I didn't realize how the yield can be destroyed when you trade an overpriced YT And this, even if you catch the bottom of the YT
Take it into consideration fren
Some PT/YT holder here ?
Hey chads
What are you doing while the SM is selling stablecoin / buying alts ?
Nansen : 14% stable (more defiant) ChainEdge : 20,30% stable (more degen)
Next week I show how Nansen is useful to find DEFi wizard This week let's see how ChainEdge is more suitable for finding alpha🔥
Here are some features that show how ChainEdge is more easier to use :
- stable / ETH & variant / BTC are exclude
- daily summary on the altcoins trending ; today
- the New Launch Digest shows in a simple table what are the last news tokens (launched few hours ago) and the % of buyers/seller ; inflow/outflow etc ..
- easier to find / copy click wallet / token address
- Alpha stream show you the last transactions, you filter by SM tagged "New Launch Pro" , "Insititutionals" , "Gem Spotter" , "6 months top trader" , "king SM" , "early ape" and "new launch bot"
- set up your own watchlists and alerts
What is the today alpha ?
- Overview of the SM folio ; 42% ETH+variant / 17,5% stable / 40,5% alts > the historical data show the % of alts & stable is increasing while the % of ETH + variant is decreasing since early august
- $BANANA / $RLB / $BITCOIN are the most frequent stable found in SM's wallets
- but $RLB and $BITCOIN are one of the most sold atls too
- SM seems to be bullish again on
$DMT; gameFi is back ? $KEYSfrom TeleKeysTech appears to be a SocialFi platform build on top of Telegram allowing you to create private telegram channel with keys, exactly as FriendTech does on its own app 20k inflow for a token created <24h ago , under 1M MC, that's great
KEYS caught my attention, gonna do an analysis about what it's on twitter : twitter.com/caZUBelli
Volatility is back, already miss the sub 10 GWEI ? Are SM back ?
This last 24h ;
- IMX 9M $ inflow
- BLUR 1M $ outflow
The fact ?
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Arrington XRP Capital withdrew $IMX from Immutable X contract and send it to another address. In order to dump it ? Idk yet, but it seems that this address has not interacted with a CEXs before.
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Wintermute Trading is dumping massive amount of $BLUR in OKEx ; still hold 7,3M of $BLUR
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The wallet is not dumping 850k of $BONE, but rather using it in a protocol
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Wintermute (again) is not buying $SHIB, but only transferring in to a wallet to another (holding more than 50M $ of $SHIB ... ready to dump during the next bull)
Surprise to saw $PENDLE here. I like a lot this protocol so I analysed the transactions ;
- number of SM holding is slightly increasing
- token hold by the SM is also slightly increasing
- +350k inflow is from Spartan Group, withdrawing $PENDLE from Binance and now hold 1,3M $PENDLE without selling any (since the 2023/04/025 so it's new)
Special mention for $ANGLE, also like this protocol ;
- +135k is from this wallet (0x12d3d411d010891a88bff2401bd73fa41fb1316e) tagged as a "smart influencer". This anon is really implied in Angle Protocol : LPing 2,9M agEUR LP pool in Univ3 Staking 10M of $ANGLE in Stake DAO Staking 5,8M of $ANGLE in Angle Protocol Holding more than 17M of $ANGLE is its wallet ===> total size (relative to $ANGLE) = 3 950 000$
The Debank pro feature highlights that : 71M$ have been used (transferts, withdraw, deposit etc..) in Angle Protocol A total of 52M$ of agEUR used in its transaction ==> real user
I don't see him selling any $ANGLE ... So, if you are a $ANGLE holder, you should monitor this wallet (btw, Nansen SM's metric of $ANGLE are good)
Nansen is not useful to find trend, but useful to find big DEFi wizard
Do you want more analysis like that ?
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So ex-WatchePro rebranded into Scopescan (twitter.com/0xScopescan))
I remember to try it few months ago when Arkham and WatcherPro were the two new emerging platform analytic And didn't be convince by it
They add several new features such as :
- which tokens SM is buying / selling
- performance vs BTC (wait to it same stuff but vs ETH or DEFi index)
- "whales watch", smart feature like % hold by whales / % of this token compare to their global folio / top on-chain transactions / top exchanges in-out flow
- great visual graph to see the "money flow" of a specific wallet
- "live statistics" like VC movement / biggest CEX transaction & many more
I'm rarely convince by the efficiency of these tools, most of the time they are less efficient than manual on-chain analysis
But, 15 days free-trial So, yes Gonna try it in-depth and give you a complete feedback about it
Does the Smart Money is buying ?
According to Nansen, since the 02 September, their % stablecoin holding drop from 15,50% to 10% today - over the 7,21k SM tagged While the market is bleeding ...
What happened ?
- If we look at the tokens hold by the SM, we notice a net inflow of stablecoin (>28M)
- Relatively low outflow of alts (<17M)
- Top SM mainly buy stablecoin over the 7d and 24h
- According to Artemis, the global MC of stablecoin is increasing a bit
That's quite strange analysis It seems that these data contradict each other ; if we see the % stablecoin hold decreasing, it means that they should either buy alts either send stable to Exchanges But, a send to exchange is tagged as a sale in Nansen
Or something not coherent with these data - I have asked Nansen team about it, let's see what the answer will be
Hello frens Here is a good way to hegde yourself against volatility :
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According to the Crypto Volatility Index, the volatility of the market is reaching a ATL (cvi.finance/))
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The fees generated by GMX are insanely low with a prediction APR for next 'week' of 5,77% (stats.gmx.io/arbitrum))
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Pendle's YT_GLP is reaching a ATL, at 7,99% The delta between YT_GLP and PT_GLP have never been that narrow (app.pendle.finance/trade/markets/0x7d49e5adc0eaad9c027857767638613253ef125f/swap?view=yt&chain=arbitrum))
I think that buying YT_GLP is a win-win solution :
GMX traders are still 78% long, if the market dump, fees will go up by buying GLP, you're a bit exposed to the market in case of a pump in both case (pump or dump), GLP yield should increase and you can win decent % by leveraging your GLP
This flat market is waiting for a new, or idk anything else, to react ==> volatility never stays low for a long time
The only one case you can lose, is that GMX is hacked or any bad new around it
But tbh, R/R is high That is why I'm actually Long on GLP yield
Agree ?