Blur is about to launch its token, and whales are accumulating these NFTFi tokens
Understand the recent asset allocation of top holders of X2Y2, NFTX, BEND, and JPEG.Source: https://twitter.com/defi_mochi/status/1621911129009315841
Author: @Defi_Mochi
Compiled by: Shiwen, Odaily Planet Daily
As February arrives, NFT players are most looking forward to the token launch of the NFT aggregation trading market, Blur.
Blur has achieved a great start with its new "blind box" airdrop, which has also sparked FOMO among people hoping to get rich from airdrops. Additionally, since the leading NFT marketplace, Opensea, has yet to release its platform token, expectations for the value of the Blur token have gradually risen. After three rounds of "blind box" airdrops, the number of users on Blur has surged. Among them, whales almost monopolize the leaderboard and have briefly boosted NFT trading volume. According to data from Dune Analytics, Blur's transaction volume has exceeded $200 million in the past three months, far surpassing other NFT aggregators.
Another investment approach, distinct from the "arbitrage" mindset, is that after Blur launches its token on February 14, the prices of NFTFi-related tokens may rise. Analyst defi_mochi has analyzed the recent accumulation of NFTFi tokens by whale wallets to help everyone understand how they are allocating their assets. Odaily Planet Daily has compiled and organized his post, and would like to remind everyone that on-chain data is for reference only; please operate cautiously and avoid impulsive actions.
First, let's take a look at the data of various NFTFi tokens over the past 30 days.
X2Y2 Whales
- Wallet Address: 0x160A8D28D63961297e51E4f1a0401bf4D27f5162
Current Token Balance: $274,831
Average Cost Basis: $0.15410
Total Token Profit: $52,884
This address seems to have made a huge profit from LDO tokens during the popularity of the LSD concept. On the ETH mainnet alone, his wallet balance exceeds $4.8 million. He also holds DYDX and LOOKS tokens.
By tracking this wallet, we found that he purchased a large amount of X2Y2 tokens on February 1 and 2. You can track this wallet address to understand its allocation of X2Y2 tokens.
NFTX Whales
Wallet Address: 0xfB4cB868727D9622258bf2B26A8CFc95f6742669
Current Token Balance: $78,827
Average Cost Basis: $19.06986
Total Token Profit: $30,554
At the time of writing, the price of NFTX tokens has risen to $33, which is not far from the $19 price at which this wallet purchased them, but he has not continued to increase his position, having only bought once and held.
This address also heavily invests in the DeFi insurance token NXM while continuously holding NFTX tokens. Since he entered the market, the NFTX token has only risen about 50%, and considering that the market cap of NFTX tokens is only $11 million, I personally believe it still has potential.
BEND Whales
Wallet Address: 0x726CDC837384a7Deb8bbea64beba2E7b4d7346c0
Current Token Balance: $132,444
Average Cost Basis: $0.00786
Total Token Profit: $76,111
This address entered the market when BEND tokens were at $0.00834, at which point the trading volume of BEND tokens was $49,000, making it a very perfect entry point. Since then, the token has risen steadily.
This address also holds FXS tokens, which have soared from $4 to $12 due to the LSD concept. However, the current price of BEND tokens seems a bit risky, as it has nearly tripled.
JPEG'd Whales
Wallet Address: 0x346F1d297C98C28574742B067b67A80cdA2Dc0d9
This address purchased over $52,000 worth of JPEG tokens at a price of $0.0912. This price is not far from the current price of $1.43.
I am particularly optimistic about JPEG tokens because this whale holds over $800,000 worth of JPEG tokens and is still buying in large quantities at $0.09.
