Outstanding on-chain events last week (January 15 - January 20): Cryptocurrency inflow

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20 Jan 2024

In the on-chain summary article for the third week of January 2024, Coin68 invites readers to take a quick look at information about the weekly flow of money into crypto assets and low-cap token transactions according to celebrities. How has it brought huge profits to investors?

1. Weekly inflows into crypto assets

So it's been more than a week sinceBitcoin Spot ETF approved. According to a report from Coinshares, crypto asset investment products recorded inflows of reaching 1.18 billion USD during the week. However, when compared with the cash flow when BTC ETF Futures was launched, it can be seen that this number has not yet surpassed the level 1.5 billion USD in October 2021.

Cash flow into crypto weekly. Source: CoinShares

In terms of cash flow by country, it is not surprising that the United States ranked first with 1.24 billion USD flowing into the market this week . Followed by Switzerland recorded a cash inflow of 21 million USD while Sweden, Germany and Canada had relatively large cash outflows. The reason may be because the attraction from BTC ETF Spot in the US has caused funds and investors to move from the European market to the US.

Cash flow by country. Source: CoinShares

Taking into account each type of asset, it can be said that January is Bitcoin's month when cash inflow reaches 1.14 billion USD during the week, accounting for 3% of total assets under management (AuM). after only 3 days of launch, BTC ETF Spot trading volume recorded nearly 10 billion USD, this is a remarkable number. amazing, far exceeding the usual standards in the ETF industry. While short-bitcoin also recorded smaller inflows, reaching a total of 4.1 million USD.

In addition, as in the articleOn-chain event week 2, we see a great level of interest in Ethereum and therefore the inflow into this asset class has increased 26 million USD< a i=2>, followed by XRP at 2.2 million USD. On the other hand, after a period of strong growth, the cash flow into Solana gradually decreased, only reaching 0.5 million USD.

Cash flow by assets. Source: CoinShares

Blockchain stocks also recorded notable cash inflows, totaling 98 million USD, bringing the total inflows within 7 weeks up 608 million USD.

2. Featured token trading

- Million USD profit from memecoin TROLL

Recently when X's accountElon Musksuddenly updated his position to (CTO) - Chief Troll Officer, resulting in a sharp increase in the price of TROLL tokens. Many investors, upon seeing this change on Elon's X account, quickly "jumped in". TROLL transactions.

Wallet address 0x69d was lucky enough to turn his losing account into a big profit when he earned more than 2.7 million USD. Initially, the wallet spent up to 30,000 USD to own 80.77 billion TROLL. Because of the quick purchase when the price was still low, at its peak, the value of this investment reached 2.79 million USD.

Wallet profit 0x69d. Source: Lookonchain (Photo taken on January 15)

Another investor, upon seeing this change, immediately withdrew 4,313 ETH (10,113 USD) from Binance and spent 4.3 ETH to buy 19.37 trillion TROLL. Then, when the price of TROLL increased, the wallet sold 9.37 trillion TROLL to get back 5,318 ETH (12,467 USD) to recover the capital initial. Currently, the wallet is holding 10 trillion TROLL, which is worth 803,000 USD.

0x3fa wallet profit. Source: Lookonchain (Photo taken on January 17)

- Profit from memecoin ZUZALU

Just like TROLL, memecoin ZUZALU started to suddenly increase sharply after being mentioned in a tweet byVitalik Buterin. Seizing that opportunity, a smart investor immediately spent 0.4 ETH (1,031 USD) to buy 58 million ZUZALU after seeing Vitalik's response and earned about 490,000 USD within 3 days.

Realizing the opportunity to increase the price of ZUZALU, the wallet also spent more ETH to buy this token and in total paid 10 ETH (25,000 USD)< a i=2> to buy 69.19 million ZUZALU, then sell 42.05 million ZUZALU to get back 55.6 ETH (140,000 USD).

ZUZALU Trading Profits. Source: Lookonchain (Photo taken on January 16)

- Profit from MYRA

Even though several months have passed, the heat and growth potential of many memecoins on Solana have not cooled down. Trading memecoin during this time has helped many investors change their positions.

Recently, an investor quickly earned 1,703 SOL (170,000 USD), 567 times the capital of 3 SOL only in 1 day. The wallet used 3 SOL to buy 61.8 million MYRA right after this token went on sale. The wallet then sold 33 million MYRA to earn 603 SOL.

Currently, this investor's wallet still holds 28.74 million MYRA (equivalent to 1,100 SOL)

Trade MYRA tokens. Source: Solscan (Photo taken January 15)

- Profit from SAVM

On January 19, projectSatoshiVM, a Layer 2 Bitcoin ZK Rollup solution fueled by BTC, announced the SAVM token airdrop even though it is only in the testnet phase.

A wallet believed to be an insider went through BananaGun and offered a bribe of 141.66 ETH to become the first Buy SAVM as soon as the token is listed. The wallet purchased 2.61 million SAVMs for a total cost of 277.66 ETH (681,000 USD).

Beaverbuild bribe transaction. Source: Etherscan

Currently, the wallet is selling SAVMs and has sold a total of 2.16 million SAVMs, earning 4.38 million USD. The remaining amount of SAVM is 450,000 SAVM (3.07 million USD) in 4 wallets.

MYRA trading. Source: Etherscan (Photo taken January 19)

Another trader also bribed 121.07 ETH to be the second person to buy SAVM at opening.

Beaverbuild bribe transaction. Source: Etherscan

Wallet purchased 456,983 SAVM with capital 211.07 ETH (521,000 USD). Then sell 444,483 SAVMs to get 602 ETH (1.49 million USD) and leave 12,500 SAVMs (125,000 USD). The total wallet profit is estimated to exceed 1 million USD.

With this event, on-chain detective ZachXBT also posted a sarcastic tweet about the project paying a series of large KOLs to shill the project at the same time. According to ZachXBT, KOLs have the ability to distribute tokens and dump later investors.