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On-Chain Insights: LSDs, Vesting Contracts, Gains Network and Memecoin Trading
Jake Kennis
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Key Takeaways
4 min read

  • Smart Money activity is bullish on LSDs with significant increases observed over the last 24 hours. Top tokens include USDC, stETH, GAL, aSTETH, MKR, and rETH. Trending entities like Gains Network and Idle Finance are also gaining attention.

  • Memecoins like PEPE and FLOKI continue to dominate large DEX trades. There is an increase in deposits to centralized exchanges from large DEX buyers, indicating potential selling pressure.

Smart Money Movements (24h)

The overall trend shows that Smart Money activity is bullish on LSDs given the significant increases LSDs over the last 24 hours. Some of the top tokens include USDC, stETH, GAL, aSTETH, MKR, and rETH.

stETH

  • Over $8.5m inflows to Smart Money over the last 24 hours.
  • The number of smart money wallets has only increased since the start of 2023, with a near 70% increase in smart money wallets holding stETH.
  • The majority of the inflows can be attributed to the following wallets:
    • 🤓 Smart Dex Trader received over $6m of inflows of stETH. It all comes from Agility, as this wallet has been consistently...