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The US Avoids Debt Default, AXS OKX HK Listing, Chinese Memecoin BIAO, Binance Token Listings
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What's New at Nansen

Research Reports

Binance Token Listings: A Look at Possible Frontrunning Activities.

Key Takeaways:

  • The study looked for suspicious activity, such as wallets with few transactions involving the listed token, layering of funds, or DEX contracts approved shortly before the Binance announcement.
  • The analysis identified wallets with trading activities resembling frontrunning and separated them into two categories: funded and active wallets with significant wallet balances and drained wallets with insignificant balances.
  • Despite efforts to prevent such activities, we still continue to observe trading activity that closely resembles that of front runners and insider trading leading even in recent listings e.g. (SYN, GNS, and LQTY).
  • Key considerations include: Inconsistent insider information, difficulty in tracking tokens transferred to CEX addresses and distinguishing between wash-trading activities vs front running activities.

Please find the link to the report here.

General Discussion

War Room Channel

Macro

  • Some from the community are watching rates closely come Tuesday to see how they might change and get impacted now that the US is kicking the can down the road yet again.
    • Kruger’s view that viewing the event as bearish is over complicating things here.
    • A community member thinks that its bullish that they avoided that technical problem that had 5-20% chance. But that was always only going to be very short lived problem, as once that stuff starts happening the politicans will soon capitulate and get the ceiling raised. The real bearish event has always been the the liquidity drain from TGA going from $0 billion $700+ billion.
    • A breakdown on BackTheBunny’s view on the situation here.
  • An interesting thread on Rolling correlations of BTC with other global macro assets over time here.

AXS

  • AXS was one of 16 assets that OKX HK will list. A few community member thinks that it is definitely an outlier and one of the smaller coins of the list, and it implies there is something there with HK/China regulators and SkyMavis/Animoca Brands.

Chinese memecoin picking up

  • BIAO memecoin is gaining traction with MC going up 10x in a day. Some miladys are shilling it.
  • Jingtao has been shilling it in a tweet here.

Off-Topic Channel

  • A community member shared a video with respect to debt ceiling here.

On-chain Trading Channel

  • Trending on Nansen
    • Looks pretty quiet across the board, most of the interest seems to be around $STG and $LBR.
    • STG seems like some pools offer high APY currently & alot of people of voting on their proposals currently betting on an airdrop in a tweet here and snapshot here.
    • LBR is the governance token of Lybra Finance. $LBR balance changes for the past 7 days here.

Gaming Channel

  • Tweet on Ubisoft dropping exclusive Reddit NFTs here and integrating crpyto rewards into GTA 6.
    • A community member puts little credence to this. Rockstar is owned by Take Two, a publicly traded US company. They can't do anything without having legal look at it. This is even for just marketing. Imagine what legal thinks of crypto. From those I know working at the big public gaming companies, they've been told that they won't be doing crypto related, so everything you hear is just to act like they are staying on top of things. Plus GTA makes billions, they have no need to do anything crypto that might be considered risky by the parent company.
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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.