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Nov 9 • 5 tweets • 4 min read
Some of our fans in the telegram group are worried about #Kucoin's shortage of funds.

We analyzed the stablecoins hold by #Kucoin and found that in the past 7 days, there were not too many stablecoins flowing out from #Kucoin.

1.
A short thread.🧵
2.
Data from Nansen shows that #Kucoin’s stablecoin holdings on Ethereum have decreased by $236.6M in the past 7 days.

This is the main reason why users are worried. Image
3.
And we found 4 days ago, #Kucoin transferred 300M $USDT from Ethereum to TRON via #Bitfinex.

So #KuCoin's stablecoins have not decreased, it switched from ERC to TRC network.

Excluding this transaction, #Kucoin has a net inflow of $63M in stablecoins over the past 7 days. ImageImage
4.
300M $USDT Outflow from Ethereum: etherscan.io/tx/0x8b9c3f9ce…

300M $USDT Inflow to TRON: tronscan.org/#/transaction/…
@lyu_johnny

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More from @lookonchain

Lookonchain Profile picture
Nov 11
What happeded to #BlockFi ?

1.🧵

A thread tells you how #BlockFi got to the brink of bankruptcy. Image
2.
BlockFi is a CeFi platform that provides cryptocurrency deposits and lending services.

I will tell you about #BlockFi from:

- Wrong decision to invest in GBTC.
- Loans that 3AC cannot repay.
- FTX Crash.
3.
 Wrong decision to invest in GBTC.

#Blockfi is the 2nd holder of GBTC with19.85M shares in GBTC trust ($500M) in July 2021.

They received large BTC deposits from investors at a 5% interest rate.

And deposited into GBTC to make profit by high premium.
Read 11 tweets
Lookonchain Profile picture
Nov 10
1/ #USDT has now returned to the peg and and is trading at $0.9985.

The #Curve 3pool is in balance, with $USDT accounting for 67.47%.

While most people are in panic, @maplefinance has made over $1.2M with $USDT depegging.

How did he do it?👇 ImageImage
2/
5 hours ago, when $USDT depegged to $0.99, Maple withdrew 48.78M $USDC from #Circle and exchanged for $USDT.

He also borrowed 100M $USDC from #Aave to exchange for $USDT.

And he received a total of 150.1M $USDT with an average exchange rate of 0.9912. ImageImage
3/
Then he transferred 149.9M $USDT to Bitfinex, which was converted into US Dollars at a ratio of 1:1.

So he can deposit these US Dollars into #Circle and withdraw $USDC.

He made a profit of more than 1.2M USD! Image
Read 4 tweets
Lookonchain Profile picture
Nov 10
1/ $USDD has started to depeg and is trading at $0.9788.

The USDD vs. USDC/USDT/DAI pool is out of balance, with USDD accounting for 82.27%.

What you need to know about $USDD.👇 ImageImage
2/
What happened on on-chain?

On November 8, whale 0x3f34 exchanged 4,495,446 $USDD for 4,466,269 $USDT, with a ratio of 0.9935.

After that, $USDD started to depeg.

18 hours ago, whale 0x3155 exchanged 6,653,731 $USDD for 6,519,662 $USDC, with a ratio of 0.9799. ImageImage
3/
How about the #Tron reserve for $USDD?

The total $USDD supply is $725M and total collateral $2B.

Collat. Ratio is 283.01%
usdd.io/#/ Image
Read 6 tweets
Lookonchain Profile picture
Nov 9
1/ How many assets does #Alameda have on-chain?

We analyzed 56 addresses starting with "0x" of #Alameda.

The net worth of Alameda is 222.4M USD.

And we also analyzed Alameda's assets and Debts on Defi.👇
#AlamedaResearch #FTTcrash #FTT #FTX
2/
#Alameda's Address (Net Worth >100,000 USD).

Among #Alameda's 56 addresses:
19 addresses have an net worth over $100,000, and 13 addresses have an net worth over $1 million.

Most of the assets are concentrated in a few addresses.
3/
#Alameda's Assets on Wallet (>100,000 USD).

Excluding stablecoins, $ETH, $BIT and $FTT are worth more than $1M.

You need to focus on these tokens, she may sell at any time.

Also, $SRM, $OP, $MATIC, $MASK, $SAND and $FTM are worth keeping an eye on.
Read 6 tweets
Lookonchain Profile picture
Nov 7
1/ A small whale transferred 491,534 $FTT ($10.9M) to #Binance just now.

His $FTT was bought at $29.2 on August 5th.

Now he seems to be selling all his $FTT at a loss.

At the same time, we also found that many retail investors who held $FTT for a long time also sold $FTT.👇 ImageImage
2/
0xa168 has been buying $FTT before, and was even buying $FTT 4 days ago.

Just 7 hours ago, he started selling $FTT and sold a total of 16,385 $FTT ($376,855).

His average buying price is $39.60.

etherscan.io/token/0x50d1c9… Image
3/
0xfe2c is an early holder of $FTT and has held it for almost 1.5 years.

He bought 33,836 $FTT at about $54 in May 2021, spending $1.83M.

6 hours ago, he sold all $FTT for a loss of over $1M.

etherscan.io/token/0x50d1c9… ImageImage
Read 4 tweets
Lookonchain Profile picture
Nov 6
A giant whale transferred 23M $FTT($530M) to #Binance yesterday.

After that, the price of $FTT began to gradually decrease, from $25.4 to $22.82, a decrease of 10%.

What happeded to $FTT?

1.
 Here is a thread.🧵 ImageImage
2.
On Nov. 2, @CoinDesk posted that according to a private financial documents reviewed by CoinDesk, it showed a glitch in Alameda’s balance sheet.

coindesk.com/business/2022/…
3.
@MikeBurgersburg posted an article titled "IS ALAMEDA RESEARCH INSOLVENT?" and received a like from @cz_binance.

Meanwhile, @cz_binance tweeted "Crypto is high risk.", seemingly alluding to Alameda.
Image
Read 12 tweets

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