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On-chain Insights: Trader Joe, Binance Outflows and Smart Money Movements
Key Takeaways
2 min read
  • Trader Joe is going from strength to strength as the token has increased in price by over 20% in the past day, with Binance perps listing set to launch tomorrow.
  • Binance is facing outflows as a result of CTFC’s lawsuit against it, with stablecoin outflows in the past 7 days taking up over 13% of stablecoin reserves.
  • Smart Money movement continues to be centred around ETH and its derivatives, suggesting that the market is cooling for a bit.

Trader Joe

  • The token has seen another leg up of 20% from yesterday, hitting 0.6.
  • The token has gained significant traction on Twitter with one prominent tweeter - Defi_Maestro being a avid trader of JOE.
  • Binance is also set to launch JOE perps on 29 March which could introduce greater volatility for the token.
  • Despite strong price movement, there hasn’t been a lot of Smart Money movement on JOE, as token holdings for Smart Money have only increased by $177k in the past day.
    • Some new entrants to the token in the past...