Data from Nansen shows which coins the smart money has flowed into in the last 24 hours. This information can be an important resource for investors to understand which coins are popular and could potentially rise in the future. Among the data, ENA coin and ezETH, which has caused controversy recently, stand out. Here are the details…
Controversial ezETH in focus of smart money
According to the data, the coin that received the most flows in the last 24 hours is ezETH. It is a token that represents the staked version of Ethereum and can be used by investors to stay liquid without staking their assets. But cryptokoin.com As we reported, ezETH exhibited a controversial price movement yesterday. Renzo Protocol’s liquid restaking token (LRT) ezETH lost its peg during the controversial REZ native token airdrop. This event caused ezETH to lose its value equal to 1 ETH.
EzETH price temporarily dropped to $688 on the decentralized exchange (DEX) Uniswap. However, at the time of writing, the price has recovered again. The incident was likely caused by a large-scale ezETH sell-off after the end of the season 1 airdrop on Renzo Protocol. Investors may want to take back their ETH and make liquid restaking in other protocols. This event is a risk that all liquid restaking tokens (LRT) should be aware of. The EzETH depletion caused mass liquidations in leveraged protocols such as Gearbox and Morpho Labs.
Renzo is currently the second largest liquid restaking protocol with total value locked (TVL) of approximately $3.21 billion. Interest in Renzo increased after cryptocurrency exchange Binance launched the Launchpool program for its native token Renzo (REZ) on Tuesday.
ENA coin, ETH, WBTC; Following ezETH
Other coins following ezETH include ENA, ETH, WBTC, aEthWBTC, stETH, aEthWETH, rsETH, HIGH and aEthUSDC. Each of these coins represents a different Ethereum-based project and may be preferred by investors for different reasons. Tracking which coins the smart money is flowing into can be a useful tool for investors to understand trends and make potentially profitable investments. However, it is important to always do your own research and consider your risks before investing.
Interest in Ethereum-based coins is high. The top 9 coins with the most flows in the last 24 hours are Ethereum based. Liquid ETH staking is attracting attention. Because ezETH is the coin that received the most flow in the last 24 hours. Investors are also interested in coins with high return potential. HIGH is the 9th coin with the most flows in the last 24 hours. As a result, Nansen data shows which coins the smart money has flowed into in the last 24 hours. This information can be an important resource for investors to understand which coins are popular and could potentially rise in the future.
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