The top address has earned approximately $1.6 million in the past 24 hours, with a return rate of 1.82%. The corresponding full address is 0x90d3020c166d7d62361639ea1CB2d8abed38015e which owns 1.718% of the total transaction score. This address deposited 85 million USDC on dYdX L2 within a week, and transferred 200,000 DYDX from Binance two days ago.
According to the rankings at 2nd, November, the top address has earned approximately $1.6 million in the past 24 hours, with a return rate of 1.82%.
According to the data on the dYdX trading rewards panel, the corresponding full address is 0x90d3020c166d7d62361639ea1cb2d8abed38015e which owns 1.718% of the total transaction score.
Checking this address on Etherscan, you can see that this address deposited nearly 85 million USDC on dYdX L2 within a week, and transferred 200,000 DYDX from Binance two days ago.
Digging deeper, you can see that it holds half of the Media Network Token supply (Solana project) in the total amount of ERC20 tokens.
And it seems to have performed the official cross-chain transaction of SOL-ETH at that time,
Media Network is a peer-to-peer content distribution network (https://media.network/) on Solana. The main partner is Alameda Research, and its token is mainly listed on FTX.
Based on this, we can speculate that this address is definitely related to Alameda, here are some more details.
1. With 85 million USDC and 200,000 DYDX deposited in a week, such funds are likely to come from a professional trading institution.
2. The recent SOL-USD trading volume on dYdX has surged, becoming the third-largest trading pair after BTC-USD and ETH-USD.
3. It is inferred from the fee discount rules of DYDX tokens that this address has taken less than a week to reach a volume of 50m-200m USD on dYdX.
4. This address used to have a large amount of SUSHI, more than 3% of the total.
In summary, from its holding information, on-chain behaviors, and trading performance on dYdX, it can be inferred that Alameda Research started to trade on dYdX and earned a lot.
At the same time, it also holds a huge bag of DYDX tokens for fee discounts. As of now, Alameda Research expects to receive approximately 65,000 DYDX trading rewards in the current Epoch.