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On-Chain Insights: Ape Accumulation, ASTO Selling, and Exchange Flows
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Key Takeaways
less than a minute read
  • The smart money inflows are primarily dominated by APE today. Smart money outflows are minimal compared to smart money inflows and are just initiated by one smart money address.
  • Exchange flows signal further derisking behavior with smart money accumulating stables.

Smart Money Overview

Smart Money Token Inflows

  • Inflows to smart money wallets were dominated by APE today, almost 20x the amount of the token in second place. This shows that smart money is seeking yield opportunities on APE staking contracts so they are accumulating APE tokens.
    • Nearly $1.42m inflows of APE into smart money wallets in the past 24H
      • Two smart money wallets that accumulated the most are Arca: 0x23a and Wintermute Trading: with a change in USD balance of over $976k and $387k in the last 24H respectively

Smart Money Token Outflows

Largest outflows from Smart money outside of stables is ASTO

  • Nearly 40k outflows of ASTO out of smart money wallets in the past 24H
    • ASTO is a utility token for Altered State Machine and is used for DAO governance, minting NFTs, in-game transactions, and so on.

    • The token price for ASTO has seen an overwhelming drop YTD and now reaching only $0.0466 usd.

    • The entire ASTO outflow can be attributed to Dialectic: 0x314 who dumped $45k ASTO over the past day.

Exchange Flows

  • The largest inflows to exchanges over the last 24H from Smart Money were ETH ($6.1m), PERP ($2.1m) and USDT ($1.3m)

    • There is a total of $21.2m ETH on exchanges: 24% of ETH are held by Binance and 21% are held by Coinbase

  • The largest outflows from exchanges over the last 24H from Smart Money were USDC ($18.9m), BUSD ($9m), and APE ($976k)
    • USDC and BUSD outflows signal smart money continues to derisk
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Disclosure: The authors of this content and members of Nansen may be participating or invested in some of the protocols or tokens mentioned herein. The foregoing statement acts as a disclosure of potential conflicts of interest and is not a recommendation to purchase or invest in any token or participate in any protocol. Nansen does not recommend any particular course of action in relation to any token or protocol. The content herein is meant purely for educational and informational purposes only and should not be relied upon as financial, investment, legal, tax or any other professional or other advice. None of the content and information herein is presented to induce or to attempt to induce any reader or other person to buy, sell or hold any token or participate in any protocol or enter into, or offer to enter into, any agreement for or with a view to buying or selling any token or participating in any protocol. Statements made herein (including statements of opinion, if any) are wholly generic and not tailored to take into account the personal needs and unique circumstances of any reader or any other person. Readers are strongly urged to exercise caution and have regard to their own personal needs and circumstances before making any decision to buy or sell any token or participate in any protocol. Observations and views expressed herein may be changed by Nansen at any time without notice. Nansen accepts no liability whatsoever for any losses or liabilities arising from the use of or reliance on any of this content.