[ad_1]
Crypto Whales and Their Wallets
The crypto market has been going through a regulatory crackdown in the U.S. and the trading volume continues to dwindle across centralized exchanges. However, some big crypto whales are still actively trading. According to on-chain portfolio data from Nansen, we decided to take a look at what six major crypto whales’ wallets are doing, where they park funds, and how their activity signals movement in the market.
What are Crypto Whales?
A “whale” in investing or gambling denotes a player with a lot of capital in play. In the crypto world, a whale is someone who holds a significant amount of a particular cryptocurrency and has the power to influence the market’s price. If a whale starts buying or selling a particular cryptocurrency, it can significantly impact the market’s price.
Wallet Statistics
The six crypto whales’ wallets we analyzed are worth a total of $493.6 million, with almost 98% of their wallets’ allocated on the Ethereum blockchain, according to Nansen data. A majority of the wallets on our list include “wrapped” crypto assets, which is a tokenized version of the original coin that holds the same value.
Crypto Whales Wallets Overview
Crypto wallet 1 with $18.25 million net worth:
- Chain allocation:
- 98.31% on the Ethereum chain
- Biggest token allocations:
- 85.55% is staked Ethereum (stETH) at $25.8 million
- 6.44% is wrapped Bitcoin (wBTC) at $1.94 million
- About 5%, or $1.6 million, across ENS, UNI and MATIC
- Roughly $27,000 in stablecoin USDT
- Protocol allocation
- 94% held on Aave (lending protocol)
- About 6% held in wallet
- Portfolio performance down 6.75% on the week
Crypto wallet 2 with $21.88 million net worth:
- Chain allocation:
- 99.44% on the Ethereum chain
- Biggest token allocations:
- 71.39% is staked Ethereum (stETH) at $40.6 million
- 22% is in stablecoin DAI at $12.5 million
- About 5%, or $2.9 million, across CUNI, UNI, CRV, wETH, CVX, MKR
- Protocol allocation
- 64% held on Aave
- 25% on Compound
- 5.59% held in crypto wallet
- Portfolio performance down 5.5% on the week
Crypto wallet 3 with $27.83 million net worth:
- Chain allocation:
- 100% on the Ethereum chain
- Biggest token allocations:
- 99.99% is staked Ethereum (stETH) at $55.72 million
- Less than $4,000 is ether (ETH)
- Less than $100 in stablecoins DAI and USDT
- Protocol allocation
- 99.99% held on Aave
- Less than 0.01% in crypto wallet
- Portfolio performance down 6% on the week
Conclusion
While the crypto market is going through a regulatory crackdown, it is interesting to see that some of the biggest crypto whales are still active and trading. Our analysis of their wallets indicates that they prefer Ethereum blockchain and a majority of their wallets include “wrapped” crypto assets. However, their portfolios’ recent performances have not been great, with all the wallets down around 5-7% on the week.
FAQ
What are “wrapped” crypto assets?
“Wrapped” crypto assets are tokenized versions of the original coin that hold the same value. For example, there’s bitcoin (BTC) and wrapped bitcoin (wBTC). If an investor wants to use bitcoin on the Ethereum network, which it doesn’t operate on, they would own the latter as it allows them to operate through the wrapped version.
What is the significance of crypto whales in the crypto market?
Crypto whales hold a significant amount of a particular cryptocurrency and have the power to influence the market’s price. If a whale starts buying or selling a particular cryptocurrency, it can significantly impact the market’s price.
What is the current trend in crypto trading?
As per recent data, trading volume continues to dwindle across centralized exchanges, but some big crypto whales are still trading.
[ad_2]
For more information, please refer this link