In-depth analysis | Which NFTs did the giant whales buy? What is their bargaining logic? – Blocker

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In-depth analysis | Which NFTs did the giant whales buy? What is their bargaining logic? – Blocker
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key takeaways

In the fall in mid-June, the order of bottom-hunting by giant whales was: Bored Ape Yacht Club > Yuga Labs other NFTs > other blue-chip and emerging projects, and the type and price of bottom-hunting were related to the scale of funds.
Among the super giant whales with more than $500,000 in bargain-hunting funds, some focus on bargain-hunting for a single NFT, and some have established a diversified portfolio of bargain-hunting; there are many giant whales who choose to use a capital scale of $100,000 to $250,000 for bottom-hunting, and the cost of the NFT for bargain-hunting is high. Also different.
By restoring the bottom-hunting of specific giant whales, it is found that their strategies have some common points, such as: buying in batches, buying more and more as they fall, and each has its own “coup” for bottom-hunting.

From June 7th to June 18th, the cryptocurrency market and NFTs plummeted, and this week, the NFT market is gradually rebounding. So, in the market lows, which NFTs did the giant whales buy, and what strategies did they adopt? Which giant whales participated in this low point buying, and what is the bottom-hunting combination and average bottom-hunting price of giant whales? This article will take you to find out.

At market lows, trading volume rises

The cryptocurrency market has been in a downtrend since the first half of this year. During the period from June 7th to June 18th, the price of Bitcoin continued to fall, with a two-week drop of more than 40%. Affected by Celsius, Ethereum also fell below $1,000.

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Bitcoin market capitalization, data source: CMC

Similarly, the NFT market has been affected, and OpenSea’s trading volume has been on a downward trend recently, but we saw a change in trading volume during the period from June 7th to June 18th. In the downtrend, the NFT market still generated a large number of transactions for a short period of time, during which a large number of changes occurred, so we selected this time range as the analysis range this time.

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OpenSea trading volume trend (June 7-June 18), data source: NFTGo.io

Which NFTs did the giant whales copy?

The top ten NFTs purchased by giant whales

After observing the wallets of thousands of whales, we first focused on the top ten NFTs purchased by whales. It is worth noting that the top ranked Otherdeed, the giant whales bought a total of 173, and the average purchase price was 6.22 ETH, which is $9410 in US dollars; the tenth ranked is the Bored Ape Yacht Club, the giant whales bought a total of 25 ETH, The average purchase price was 135 ETH, or $179,849 in USD.

In addition to blue-chip NFTs, we see that there are also some non-blue-chip NFT projects in the middle, such as the second-place tubby cats by tubby collective. The giant whales bought a total of 104. From the data on the chain, most of these NFTs are single giant whales. The reason for the large number of purchases may be that the giant whales are absorbing chips and laying out Zhuangzhuang. Most whales executed their NFT trading strategies even when Bitcoin fell 40%.

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The top ten NFTs purchased by giant whales (June 7th – June 18th), data source: NFTGo.io

Whales buy the top ten NFTs with funds

Calculated by the number of purchases * the current price (USD), the top ten NFTs purchased by giant whales are again obtained. This ranking seems to be more in line with the consensus of the NFT market. From June 7th to June 18th, when Bitcoin almost halved, the giant whale group bought Bored Ape Yacht Club for $4.5 million, CryptoPunks for $1.88 million, and Otherdeed for $1.72 million.

It is worth noting that the top three are still the NFT series under Yuga Labs, and the first place Bored Ape Yacht Club purchased more funds than the second and third combined. Obviously, when the market fell sharply, the giant whale Buying preferences are: Bored Ape Yacht Club > Yuga Labs Other NFTs > Other Blue Chip and Emerging Projects.

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The top ten NFTs purchased by giant whales (June 7th – June 18th), data source: NFTGo.io

Which giant whales made bargain hunters?

Since the price of Ether fluctuated greatly during this period (June 7th to June 18th), we chose the U standard to observe which giant whales purchased the most funds.

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Purchase of super giant whales with more than $500,000, data source: NFTGo.io

As shown in the figure above, there are 5 super whales who have bought NFTs of more than 500,000 US dollars. Among them, the top three types of NFTs are relatively simple. For example, btok1024.eth ranks first, and only one Bored Ape Yacht is bought. Club and spent 1024ETH, which is an extreme special case. Second place franklinisbored.eth bought 7 Bored Ape Yacht Club, third place n0b0dy.eth bought 17 Otherdeed.

Starting from the fourth whale, the NFT combination of bottom-hunting began to diversify, choosing[2 Meebits + 6 Doodles + 9 Bored Ape Kennel Club + 3 Bored Ape Yacht Club + 5 Clone X + 2 Moonbirds + A combination of 2 Otherdeeds is a bargain hunter. The fifth place chooses “[4 Murakami.Flowers + 4 Bored Ape Yacht Club + 2 Clone X].

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The NFTs bought by the top five super whales, data source: NFTGo.io

Among the giant whales with a capital scale of more than 50,000 US dollars, in addition to 5 super giant whales, there are 16 giant whales who choose to buy the bottom with a capital scale of 100,000 to 250,000 US dollars. The top five NFTs they chose are Otherdeed, Bored Ape Yacht Club, CryptoPunks, Art Blocks, and Clone X according to the amount of bargain-hunting funds.

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Distribution of whales with different scales of bargain hunting funds, data source: NFTGo.io

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NFT bought by giant whales (100K-250K bottom-hunting funds), data source: NFTGo.io

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The average bargain-hunting price of giant whales (the bottom-hunting capital is 100K-250K), data source: NFTGo.io

What strategies do giant whales take to buy dips?

Among the top ten giant whales that purchased Otherdeed in the selected time period, the number one giant whale bought 55 Otherdeeds and spent 112.97 ETH, which is converted to a total of about 160,000 US dollars at the time of purchase. As of June 21st, the floor price of Otherdeed is 2.4 ETH. The giant whale has made a profit of 19.25 ETH, and the income is 17%. Let’s see how he used 160,000 US dollars to complete the bottom-hunting.

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Otherdeed Whale Purchase Ranking (June 7th – June 18th), data source: NFTGo.io

From June 7th, as the floor price of Otherdeed gradually decreased, the giant whale began to buy gradually. From June 7th to June 8th, it first bought 6 Otherdeeds at a price close to the floor price, with an average price of 2.596ETH.

On June 9th, the floor price of Otherdeed fell below 2.5ETH, and he bought 10 Otherdeeds at an average price of 2.368 ETH again, reducing the short-term holding cost to 2.45 ETH.

On June 12th, Otherdeed accelerated to 1.8 ETH. He completed the last batch of short-term additions and purchased 39 Otherdeeds at an average price of 1.89 ETH. At this time, he reduced the total short-term holding cost to 2.05 ETH.

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Otherdeed The first giant whale buying interval chart, data source: NFTGo.io

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Otherdeed price chart (6.7-6.18), data source: NFTGo.io

In general, his strategy is to gradually increase the position: the greater the decline, the more buying, the purchase price is divided into three ranges: 2.5-2.7 ETH, 2.3-2.5 ETH, 1.7-2 ETH, respectively, the number of purchases: 6 , 10, 39, the overall cost is controlled around 2.05 ETH.

It is worth noting that when the price of Otherdeed began to rise from June 13th to June 15th, he did not lie to win, but chose to continue to buy, indicating that the giant whale has its own valuation judgment for the NFT and believes that the The price is still in its own “buying range”, so you can continue to buy even after the bottom of the price.

One of the more interesting points is that among the 55 dips, he made 34 purchases through offers and 21 through direct purchases. This is his “little coup” for dips, and it also shows that people accept ” The chance of an offer bid” will increase.

Judging from the specific trend of Otherdeed, on June 13th, the floor price of Otherdeed dropped to a minimum of 1.8ETH, and at the same time the transaction volume reached a relative peak, which also confirms that in addition to giant whales, many people also choose here “Buy the bottom” Otherdeed.

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Otherdeed price and transaction volume, data source: NFTGo.io

Let’s take a look at the giant whale with the largest number of dips in BAYC from June 7th to June 18th. How did he “buy the dips”.

Starting from the price on June 7, when BAYC fell by 10%, he chose to buy 1; on June 13, when BAYC fell by 20%, he started to buy again, and bought 5 in the range of 20%-30%. , and control the short-term cost to 80 ETH. On June 14th, he bought BAYC with 120 ETH from LooksRare with the top 10% rarity.

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BAYC first giant whale buying interval chart, data source: NFTGo.io

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BAYC price moves on the chart (6.7-6.18), data source: NFTGo.io

The giant whale uses sub-divisions to buy the floor price BAYC, buys according to the price drop, and buys one by one after the price drop exceeds 10%.

Through the above analysis, we can probably get a few points of the logic of whale bottom-hunting.

For a single NFT, buy in batches (3 batches) according to the interval, and buy when you enter your own valuation interval.
Buy on dips rather than time, the bigger the dip, the more you buy.
Try to hunt for the bottom by making an offer.
Diversified by rarity for big blue chips, and new blue-chip diversified portfolios.
You can try multiple platforms such as X2Y2, LooksRare, not limited to OpenSea.

(The above content is excerpted and reprinted with the authorization of partner Mars Finance, original link | Source: NFTGo)

Disclaimer: The article only represents the author’s personal views and opinions, and does not represent the objective point and position of the block. All content and opinions are for reference only and do not constitute investment advice. Investors should make their own decisions and transactions, and the authors and blockers will not be responsible for the direct and indirect losses caused by investors’ transactions.

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