Traditionally, analysis of a specific asset was based on either company fundamentals or pricing data.
However, blockchain technology provides a new subset of information that could be useful in determining future flows or price movements:
Transaction level data.
Fundamental Analysis could be based upon data such as:
- balance sheet information
- cashflows of a company
and modified by premiums based upon:
- quality of executive team
- rates environment
- being part of a high-growth sector, such as fintech.
Alternatively - pricing data could also be used to predict future changes in value - aka #TechnicalAnalysis.
The concept of mean reversion is often used to identify price bands of support or resistance, and to bet against pricing anomalies.
Transactions being made on a public and open blockchain provides a new set of data, which can be used by traders to gain an advantage on the open market.
This data exists in tradfi as well, but is guarded by brokers, exchanges and regulators.
The FTX Accounts Drainer still holds over 74,000 BNB on the BSC Network.
In the past 2 hours, the attacker has bridged over 34,000 BNB equivalent back to the ETH network to their main account, while avoiding blacklisting.
Their method for transferring the BNB is as follows:
First, the attacker makes a swap on PancakeSwap - with modified input data such that the tokens are sent to a different address after the swap.
In this example, tokens are swapped for Binance pegged ETH, and the ETH is then sent to 0x961.
In a matter of minutes, the attacker then begins sending the ETH tokens through multichain in batches of 200-400 tokens.
The attacker also receives BSC-USD, the BSC-pegged USDT token, into this account. While it transacts on BSC, Tether is powerless to freeze this account.
While many US states refuse to legalize sports betting, fans turn to offshore gambling sites that accept Cryptocurrency.
Bovada is one of the most popular of these and has been accepting deposits on Ethereum since 2020.
NCAA football kicked off on Aug 27th, and the #NFL started slightly later on Sep 8th.
As football fanatics loaded their accounts from Aug 23rd to Sep 12th, @BovadaOfficial’s Ethereum wallet balance more than *tripled* from $8.5 million to $26.5 million.