DappRadar – a leading NFT and Defi app store – recently released a report analyzing the trading behaviors of the top three NFT whales. He identified some collections and projects that whales are heavily exposed to, including Adidas Originals and Doodles.
What are Whales up to?
According to the report, the three whales discussed – Pranksy, Dingaling, and Wilcox – have a net worth $242.7 million across their wallets. Each appears to employ different trading strategies, however. While Pranksy is a more active trader (5000 NFTs minted, 5200 flipped), Wilcox is far more passive (1000 minted, 100 flipped).
Pranksy is the richest collector among the three, with over $120 million in NFTs stored in his wallet alone. He holds 101 pieces of the Doodles collection, making him his fourth largest holder. He also owns 2100 crypto kittens and 1450 Avastars. Over the past 6 months, the investor has minted over 54,000 NFTs and collected over 2,100 coins.
A thread tying together all three collectors is their interest in Metaverse NFTs. Each holds large plots of land in “The Sandbox ”, a 3D-open world blockchain-based video game. Dingaling shows particular love for NFT avatars, holding 157 Voxies, and 150 VoxoDeus. Meanwhile, Wilcox owns CryptoVoxel land, Meta Key NFTs, and five CyberKongz VX.
Among these whales, the NFT Adidas Originals have proven to be particularly popular. The collection dropped in December as part of a collaboration between Bored Ape Yacht Club, Pixel Vault and GMoney.
These NFTs were available to mint by any holders of the aforementioned collections for 0.2 ETH. Pranksy minted 4,700 items, followed by Dingaling with 476, and Wilcox with 99. So far, none of these individuals have flipped them.
Growth of NFTs
NFT trading has been remarkably active lately, even in the face of a declining crypto market earlier this year. They amassed $6.7 billion in trading volume in the first 40 days of 2022, which is already 60% of the volume in the fourth quarter of 2021.
This is partly thanks to the influx of celebrities buying and promoting NFTs in the past few months. To kick off the year, rapper Eminem bought a Bored Ape for $462,000. At the end of January, Justin Bieber claimed part of the same collection for $1.3 million, with a follow-up purchase of $470,000 days later.
