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On-Chain Insights: PENDLE, Increasing Traction for IMX Bridge, PRIME
Sandra Leow
Mar 6, 2023
main
Key Takeaways
2 min read
  • There was a significant inflow into the PRIME-WETH Liquidity Pool and the frxETH-FRAX Liquidity Pool.
  • Smart Money is doubling down on Pendle Finance in light of the LSD narrative.
  • There were 2 smart money depositors in the Immutable X bridge with a positive change of 93.7% in overall deposits over the past 7d.

Hot DeFi Contracts (24h)

There was a significant inflow into the PRIME-WETH Liquidity Pool and the frxETH-FRAX Liquidity Pool.

PRIME-WETH Liquidity Pool

  • $203k worth of inflow into the PRIME-WETH liquidity pool and 2 smart money depositors.
  • Parallel recently airdropped PRIME tokens to NFT holders.
  • While a few smart money addresses were reducing their exposure to the PRIME token during the day the token launched, we are seeing some new interest now.

frxETH-FRAX Liquidity Pool

  • $255k worth of inflow into SolidlyDEX’s frxETH-FRAX liquidity pool.
  • frxETH brings additional utility to the Frax ecosystem through additional revenue generated from fees, as well as enhancing its existing DeFi products, such as FraxLend and
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