Learn about the definition of NFT whales, the necessity of tracking giant whales, and how to efficiently track giant whales.
Original title: “Data Insight: Which NFTs are the most interesting for giant whales? 》
Written by: NFT Labs
Recently, Moonstream, an open source blockchain analysis company, released a report and found that about 17% of addresses control more than 80% of NFTs on ETH. The report was released on October 21 and analyzed more than 7 million NFT transactions on ETH between April 1 and September 25, 2021. Giant whales, NFT platforms, and exchanges accounted for 16.71% of all addresses. , Owns 80.98% of NFT on ETH.
In the traditional market, individuals imitating the trading behavior of peers is an investment strategy called social trading. In the digital world, imitating the operation of a giant whale may generate invisible benefits with huge advantages. The same logic applies to NFTs, which collections can most arouse the interest of giant whales in other collections, and which collections may become the next market explosion.
Definition of giant whale
Giant whales have always been the most mysterious force in the digital economy. They earn profits by relying on huge amounts of funds and advanced knowledge of the industry, and even influence market trends. In the CEX market, a giant whale borrowed a large amount on Bitfinex in June, causing a huge panic in the market. In terms of project governance, some giant whales on MakerDAO rely on overwhelming voting rights to control de facto decision-making power. Nowadays, the NFT market is in the ascendant, some giant whales are quietly gathering, and the group of NFT giant whales with holdings valued at $1 million is growing.
Data source: nftgo.io, data as of November 1
According to NFTGO-Whales Tracking data, there are currently 603 giant whales (holding value more than US$1 million) holding NFT worth 💲2.12B, accounting for 35.55% of the total market value 💲5.98B. In the last 24 hours, 57 giant whales made 291 transactions, most of which came from Parallel Alpha.
Pranksy
Pranksy’s public address is 0xd387a6e4e84a6c86bd90c158c6028a58cc8ac459. According to NFTGO data, its current position value is 💲2.8M. As of 2020-10-21, the Pranksy account’s NFT purchase amount is 💲15.17M, the sale amount is 💲31.91M, and the net income is 💲31.91M. . Among them, Bored Ape Yacht Club contributed the most profit. Pranksy is known as the legendary NFT master of digital art and collectibles.
After observing the behavioral patterns of giant whales, Pranksy likes to invest a lot of money when a project starts to buy its large amount of circulating NFT. On May 1, when Bored Ape Yacht Club was on sale, Pranksy bought 250 of them all at once. Afterwards, it proved that the harvest was quite fruitful.
Pranksy has witnessed the whole process of NFT from its inception to its outbreak. It started with 600 US dollars. The value of NFT collections exceeded 9 million US dollars at one time, and the return rate was as high as 15,000 times.
Pransky’s position, data source: nftgo.io, data as of November 1
Epic NFT Collector
The address of Epic NFT Collector is 0xef6d69922bc2d038cb508086846524f8011c4a74. The real identity is unknown. As of 2020-10-21, the NFT purchase amount of its account is 💲0.24M, the sale amount is 💲14.61M, and the net income is 💲14.58M. Among them, Art Blocks contributed less than 30 ETH and the highest revenue.
Epic NFT Collector’s position, data source: nftgo.io, data as of November 1st
The need for whale tracking
Recently, the NFT market reproduced the “zoo” scene in May, with monkeys, tigers, cats, cows, owls, and even aliens and robots. According to the NFTGO market value rankings, in addition to the top and untouchable CryptoPunks, Art Blocks, Bored Ape Yacht Club, etc., other projects will usher in an update iteration every two days.
NFT project market value rankings, data source: nftgo.io, data as of November 1
As a digital collection, NFT liquidity is relatively weak, so if you want to resell it, you need to reach an agreement with the buyer on the selling price and find a price that both parties agree with. Then, the estimation of the potential value of an NFT series, the prediction of the overall market trend, and the finding of potential buyers have become a crucial issue. At present, for NFT players, judging whether an item is worth participating in Gas War, and when to shoot after grabbing it, are the two biggest problems.
But there is a shortcut-giant whale tracking.
In the era of digital economy, users may deliberately hide their addresses. However, some people will use a fixed address and will not change it even if they are found out. For example, the address of God V and the address of SBF farming are almost all public. On the one hand, it can be regarded as their trust in the community. Another thing that cannot be ignored is that keeping the address fixed is very helpful to improve the recognition of these people. In particular, setting the ETH address, ENS address, Twitter account, and Opensea address to a unified address is more effective. After finding the NFT whales, continue to track their addresses or follow their statements on social accounts, which has certain guiding significance for users to participate in the NFT market.
How to efficiently search for giant whale data
Data source: nftgo.io, data as of October 26
According to nftgo.io data, 14 giant whales bought CryptoPunks in the past 7 days; 0x3AC2Cc…..9247 bought Doodle#9600 at a price of 1 ETH 28 minutes ago, and spent 0.9499 ETH 52 minutes ago Purchased Doodle#6893, spent 0.28ETH to buy Head#9264 1 hour ago, etc.
In addition, real-time transaction time, transaction behavior (buying, selling, sending, casting, etc.), NFT series and serial number, counterparty address, price and gas information of the giant whale can be traded. At the same time, it supports to filter the dimensions of project name, transaction behavior, and time.
Data source: nftgo.io, data as of October 26
Whale Bought-What is the cheapest NFT bought by a whale?
Whales Favorites-What is the favorite collection of whales?
Whales Cost-who spends the most money on NFT?
The time dimension can be automatically adjusted 24h, 7D, 30D according to needs.
Data source: nftgo.io, data as of October 26
What do the giant whales like to buy most?
From the current Whales Favorites (7D) rankings, you can see that in 7 days, the items that giant whales are most keen to buy are Art Blocks, Bored Ape Yacht Club, CryptoPunks, and HeadDAO and Doodles, which are ranked first. In the last 7 days, 19 giant whales bought Doodles and 13 giant whales bought HeadDAO.
Data source: nftgo.io, data as of October 26
It can be observed that the transaction records of Doodles and HeadDAO are relatively frequent, and they are new projects with high popularity and liquidity recently. The liquidity in 7 days is 30% and 54% respectively, and the market value growth in the past 7 days is also very high. Quickly, you can combine the detailed data of the project and refer to the analysis methods of previous articles to make further judgments.
Data source: nftgo.io, data as of October 26
Who spends the most on giant whales?
According to the ranking of Whales Cost (7D), it can be seen that the giant whale that spent the most money to purchase NFT in the past 7 days is 0x1919xxx685, followed by 0x1c01xxxf1A, 0xF507xxx3Ab, 0x6Ec3xxxd68, 0xB0dAxxxbe9, the highest is 💲3.25M, and the least is M💲 1.52. Four 0x6Ec3xxxd68 as an example, click on the address to view the address details and real-time activities. You can see that in addition to buying expensive NFTs such as CryptoPunks and CryptoToadz, the giant whale also bought part of the Party Degenerates at an average price of about 0.8eth. Click “Party Degenerates” to enter the project details page and analyze the detailed data.
Data source: nftgo.io, data as of October 26
Real-time whale activity
If you do not clearly want to track a certain whale or project, but are looking for investment opportunities more extensively, you can go directly to Whales Activities to observe the real-time activities of the giant whale.
Take the purchase behavior of giant whales as an example, as shown in the figure below, you can intuitively see which giant whales purchased which series of NFTs, price and gas. Among them, the price of EVOL#4968 is relatively low. Click “EVOL#4968” to view details. According to the NFT transaction record, we know that EVOL#4968 has been falling since September 1, 2021. It is speculated that the giant whale may think it has reached a more appropriate buying point. Of course, the final decision must be based on the overall data of the project. .
Data source: nftgo.io, data as of October 26
In addition, the information conveyed by the activities of the giant whales also varies from person to person. A giant whale with short-term transactions and a value holder, the giant whale, simultaneously throw a certain series of NFTs at a certain point in time, or even lose money. Status sale, the latter should arouse your vigilance; buying behavior is the same, the same behavior is done by giant whales with different trading styles, and the information conveyed is different. Therefore, if nftgo.io can be launched as a giant whale address in the future With the function of marking, the tracking process will be more convenient and accurate.
Summarize
In this article, we introduced the definition of whales, the necessity of tracking giant whales, and how to efficiently track giant whales. There are indeed many opportunities in the NFT market, but they are often accompanied by high risks. Understand the appropriate evaluation tools and methods to analyze the actions of whales, and then identify the trends and patterns that may be triggered by giant whales. This may be one of the shortcuts to become Smart money and complete the leap from shrimp to giant whale.
