I analyzed the top 10 crypto wallets to understand what they’re doing.
Here are the takeaways, insights, trends from the top 10 crypto wallets.
June Edition
Here are the takeaways, insights, trends from the top 10 crypto wallets.
June Edition
I analyzed the top 10 wallets on DeBank to gain insights.
This thread contains an overview & takeaway from every single one of the top 10 wallets.
If you want to look at the common trends & holdings across all of them, skip to the end (link to substack version below)
2/
This thread contains an overview & takeaway from every single one of the top 10 wallets.
If you want to look at the common trends & holdings across all of them, skip to the end (link to substack version below)
2/
Some disclaimers.
• These are the top 10 wallets according to Debank’s ranking
• These only include ETH & EVM chains
• These wallets represent 1 hot wallet. Whales have multiple wallets & spread them out. This won’t include all their holdings.
3/
• These are the top 10 wallets according to Debank’s ranking
• These only include ETH & EVM chains
• These wallets represent 1 hot wallet. Whales have multiple wallets & spread them out. This won’t include all their holdings.
3/
This may be easier to read as an article.
Here's the same thread on my substack
covduk.substack.com
4/
Here's the same thread on my substack
covduk.substack.com
4/
10. FOMO @ThinkingETH
• Wallet size: 590K
• NFT portfolio: 80K
Chain breakdown:
• 340K on ETH (58%)
• 239K on Optimism (41%)
Wallet holdings:
• sUSD - 230K
• CTX - 55K
Protocol Deposits:
1. Lido - $127K
• Staked 104 ETH
2. Temple DAO - $90k
• Staked 134K TEMPLE
5/
• Wallet size: 590K
• NFT portfolio: 80K
Chain breakdown:
• 340K on ETH (58%)
• 239K on Optimism (41%)
Wallet holdings:
• sUSD - 230K
• CTX - 55K
Protocol Deposits:
1. Lido - $127K
• Staked 104 ETH
2. Temple DAO - $90k
• Staked 134K TEMPLE
5/
@ThinkingETH 3. ETH2
• Staking - 32ETH
4. Euler - 11k
• lending 1.1k ENS
1. Synthetix - $5.3K
• supplied 2.5K SNX
• Borrowed 1.2K sUSD
2. Convex - $3.3K
• FXS + cvxFXS pool
3. Charm - $3K
• WBTC + USDC
6/
• Staking - 32ETH
4. Euler - 11k
• lending 1.1k ENS
1. Synthetix - $5.3K
• supplied 2.5K SNX
• Borrowed 1.2K sUSD
2. Convex - $3.3K
• FXS + cvxFXS pool
3. Charm - $3K
• WBTC + USDC
6/
@ThinkingETH Takeaways:
• Primarily on ETH & Optimism ( betting on ETH ecosystem in this market)
• FOMO was primarily on Cronos & Aurora 1 & half months ago, now primarily on ETH.
• Stables heavy (liquid)
• Staking ETH ahead of ETH merge
debank.com
• Primarily on ETH & Optimism ( betting on ETH ecosystem in this market)
• FOMO was primarily on Cronos & Aurora 1 & half months ago, now primarily on ETH.
• Stables heavy (liquid)
• Staking ETH ahead of ETH merge
debank.com
@ThinkingETH 9. Analytico
Wallet Size: 108M
Chain Breakdown:
• 108M on ETH (100%)
Wallet Holdings
• USDC - $10.8M
• USDT - $7M
• ETH - $6.5M (5.2K ETH)
• rETH - $4.4M (4k rETH)
• WBTC - $1.07M (50 WBTC)
• WETH - $1.05M (853 WETH)
• FRAX - $690K
• SWISE - $400K
8/
Wallet Size: 108M
Chain Breakdown:
• 108M on ETH (100%)
Wallet Holdings
• USDC - $10.8M
• USDT - $7M
• ETH - $6.5M (5.2K ETH)
• rETH - $4.4M (4k rETH)
• WBTC - $1.07M (50 WBTC)
• WETH - $1.05M (853 WETH)
• FRAX - $690K
• SWISE - $400K
8/
@ThinkingETH Protocol Deposits
1. Maple Finance - $20.58M
• Farming USDC & ETH
2. Aave V2 - $17.79M
• Lending USDC (16M) & ETH (3.7k ETH)
• Borrowing $3M sUSD
• Staked Aave
3. Convex - $14.9M
• ETH + stETH ($12.4M)
• CRV + cvxCRV ($637K)
• cvxCRV ($15.7K)
• Locked CVX ($1.8M)
9
1. Maple Finance - $20.58M
• Farming USDC & ETH
2. Aave V2 - $17.79M
• Lending USDC (16M) & ETH (3.7k ETH)
• Borrowing $3M sUSD
• Staked Aave
3. Convex - $14.9M
• ETH + stETH ($12.4M)
• CRV + cvxCRV ($637K)
• cvxCRV ($15.7K)
• Locked CVX ($1.8M)
9
@ThinkingETH 4. Bancor - $5.4M
• DAI + USDT + USDC
5. ANKR - $4.66M
• Staked ankrETH
6. Alchemix V2 - $3.43M
• Staked alUSD
7. Saddle - $2.9M
• Farming sUSD + DAI + USDC + USDT
• tBTC + WBTC + renBTC + sBTC
8. RAILGUN - $2.6M
• Staked RAIL
10/
• DAI + USDT + USDC
5. ANKR - $4.66M
• Staked ankrETH
6. Alchemix V2 - $3.43M
• Staked alUSD
7. Saddle - $2.9M
• Farming sUSD + DAI + USDC + USDT
• tBTC + WBTC + renBTC + sBTC
8. RAILGUN - $2.6M
• Staked RAIL
10/
@ThinkingETH 9. Uniswap V3 - $1.6M
• LP rETH2 + sETH2
• LP ETH + sETH2
10. Armor - 979K
• arNXM + ETH
Takeaways:
• All in ETH
• Wallet has large amount of stables (~18M). Stables are diversified (USDC, USDT, FRAX)
• Big in blue chip defi protocols (Convex, Aave)
11/
• LP rETH2 + sETH2
• LP ETH + sETH2
10. Armor - 979K
• arNXM + ETH
Takeaways:
• All in ETH
• Wallet has large amount of stables (~18M). Stables are diversified (USDC, USDT, FRAX)
• Big in blue chip defi protocols (Convex, Aave)
11/
@ThinkingETH Takeaways
• Holding & staking large amounts of ETH
• Primarily earning yield on stables & ETH
• Seems to be playing it safe & staying liquid while earning yield on low risk plays. Must be looking to buy huge positions at a discount soon.
debank.com
12/
• Holding & staking large amounts of ETH
• Primarily earning yield on stables & ETH
• Seems to be playing it safe & staying liquid while earning yield on low risk plays. Must be looking to buy huge positions at a discount soon.
debank.com
12/
@ThinkingETH 8. BoredApe
Wallet size - $4.3M
Chain breakdown:
• $4M on ETH (91%)
• $153K on Arbitrum (4%)
• $129K on Avax (3%)
• $80.7K on Optimism (2%)
Wallet Holdings ($4M)
• USDC - $3.2M
• ETH - $441K (328 eth)
• APE - $111K
• XMON - $87K
• PAXG - $85K
13/
Wallet size - $4.3M
Chain breakdown:
• $4M on ETH (91%)
• $153K on Arbitrum (4%)
• $129K on Avax (3%)
• $80.7K on Optimism (2%)
Wallet Holdings ($4M)
• USDC - $3.2M
• ETH - $441K (328 eth)
• APE - $111K
• XMON - $87K
• PAXG - $85K
13/
@ThinkingETH Deposits:
1. GMX - $156K
• Staked GLP, GMX, esGMX
2. Aave V3 - 88K
• supplied WAVAX
3. Uniswap V3 - 52K
• LP WETH + USDC
4. Hop Protocol - 24k
• LP WETH + hETH
5. 0xmons - 11K
• XMON + ETH
6. LooksRare - $10K
• LOOKS
7. TreasureDAO - $10K
• Staked MAGIC
14/
1. GMX - $156K
• Staked GLP, GMX, esGMX
2. Aave V3 - 88K
• supplied WAVAX
3. Uniswap V3 - 52K
• LP WETH + USDC
4. Hop Protocol - 24k
• LP WETH + hETH
5. 0xmons - 11K
• XMON + ETH
6. LooksRare - $10K
• LOOKS
7. TreasureDAO - $10K
• Staked MAGIC
14/
@ThinkingETH 8. Curve - $8.9K
• locked CRV
Takeaways:
• Primarily on ETH
• Stables heavy ( holding & farming them)
• Primarily just holding assets. Most assets are in the wallet (4M/4.3M in wallet)
debank.com
15/
• locked CRV
Takeaways:
• Primarily on ETH
• Stables heavy ( holding & farming them)
• Primarily just holding assets. Most assets are in the wallet (4M/4.3M in wallet)
debank.com
15/
@ThinkingETH 7. fewture
Wallet size - $1.29M
Chain breakdown
• 991K on ETH (77%)
• 300K on Optimism (23%)
Wallet holdings ($42.6K)
• ETH - $25K (20 ETH)
• AGLD - $4.6K
• OP - $4.3K (7.3K IOP)
• ETH on OP - $2.5K (2 ETH)
• WETH on OP - $1.2K
• SDL - 1K
16/
Wallet size - $1.29M
Chain breakdown
• 991K on ETH (77%)
• 300K on Optimism (23%)
Wallet holdings ($42.6K)
• ETH - $25K (20 ETH)
• AGLD - $4.6K
• OP - $4.3K (7.3K IOP)
• ETH on OP - $2.5K (2 ETH)
• WETH on OP - $1.2K
• SDL - 1K
16/
@ThinkingETH Protocol deposits
1. Curve - $433K
• Locked CRV
• LP DAI + USDC + USDT
2. Convex - $356K
• Staked CRV + cvxCRV & cvxCRV
• Locked CVX
3. Synthetix - $203K
• Supplied SNX
• Borrowed sUSD
4. SharedStake - $166K
• Staked 135 ETH
debank.com
17/
1. Curve - $433K
• Locked CRV
• LP DAI + USDC + USDT
2. Convex - $356K
• Staked CRV + cvxCRV & cvxCRV
• Locked CVX
3. Synthetix - $203K
• Supplied SNX
• Borrowed sUSD
4. SharedStake - $166K
• Staked 135 ETH
debank.com
17/
@ThinkingETH Takeaways:
• Primarily on ETH & OP
• primarily in stables, ETH & blue chip protocols like convex
• Earning yield on stables
• Playing it safe.
• Fewture seems to like ETH & ETH L2s a lot. Even the last time I looked over this profile, it was heavily in ETH & OP.
18/
• Primarily on ETH & OP
• primarily in stables, ETH & blue chip protocols like convex
• Earning yield on stables
• Playing it safe.
• Fewture seems to like ETH & ETH L2s a lot. Even the last time I looked over this profile, it was heavily in ETH & OP.
18/
@ThinkingETH 6. EverydayWhale @whale_everyday
Wallet size: $13.3M
NFTs Net Worth: $266,738
Chain breakdown:
• $12.3M on ETH (92%)
• $484K on polygon (4%)
• $231K on BSC (2%)
• $225K on FTM (2%)
Wallet holdings - $1.26M
• WBTC - $904K (42 WBTC)
• MKR - $81K
debank.com
Wallet size: $13.3M
NFTs Net Worth: $266,738
Chain breakdown:
• $12.3M on ETH (92%)
• $484K on polygon (4%)
• $231K on BSC (2%)
• $225K on FTM (2%)
Wallet holdings - $1.26M
• WBTC - $904K (42 WBTC)
• MKR - $81K
debank.com
@ThinkingETH @whale_everyday • WBTC on OP, polygon, Arbitrum - $42K on each
• WETH - $38K (31K WETH)
• BADGER - ($24K)
Protocol Deposits:
1. Maker - $5.1M
• Supplied wstETH
• Borrowed DAI
2. BadgerDAO - $3M
• earning yield on ibBTC + renBTC + WBTC + sBTC, BADGER, CVX, DIGG
20/
• WETH - $38K (31K WETH)
• BADGER - ($24K)
Protocol Deposits:
1. Maker - $5.1M
• Supplied wstETH
• Borrowed DAI
2. BadgerDAO - $3M
• earning yield on ibBTC + renBTC + WBTC + sBTC, BADGER, CVX, DIGG
20/
@ThinkingETH @whale_everyday 3. Uniswap V3 - $1.8M
• WBTC + USDC
• rETH + ETH
• ETH + CRV
• CVX + ETH
• 1INCH + ETH
• & more
4. Babylon Finance - 433K
• Staked ETH & BABL
5. Aave - 334K
• supplied ETH, UNI, YFI, LINK
• Borrowed USDT
6. Ellipsis - 230K
• farming BTCB + renBTC
• Locked EPX
• WBTC + USDC
• rETH + ETH
• ETH + CRV
• CVX + ETH
• 1INCH + ETH
• & more
4. Babylon Finance - 433K
• Staked ETH & BABL
5. Aave - 334K
• supplied ETH, UNI, YFI, LINK
• Borrowed USDT
6. Ellipsis - 230K
• farming BTCB + renBTC
• Locked EPX
@ThinkingETH @whale_everyday 7. Curve - 430K
• farming BTC + renBTC ( on fantom)
• LP WBTC + renBTC (on polygon)
8. Balancer - 430K
• LP WBTC + renBTC ( on polygon)
• LP WBTC + renBTC + sBTC
Takeaways:
• Primarily on ETH
• Lots of WBTC
• Farming eth, btc & stables and eth & BTC backed assets
22
• farming BTC + renBTC ( on fantom)
• LP WBTC + renBTC (on polygon)
8. Balancer - 430K
• LP WBTC + renBTC ( on polygon)
• LP WBTC + renBTC + sBTC
Takeaways:
• Primarily on ETH
• Lots of WBTC
• Farming eth, btc & stables and eth & BTC backed assets
22
@ThinkingETH @whale_everyday 5. Miyazaki @miyazakiweb3
Wallet size: $2.9M
Chain breakdown
• $1.6M on Polygon (55%)
• $940K on Fantom (32%)
• $244K on Cronos (8%)
• $98K on ETH (3%)
• $20k on Metis (1%)
Wallet- $118K
• USDC - $55K
• ETH - $43K (34 eth)
• Qi - 17K
debank.com
23/
Wallet size: $2.9M
Chain breakdown
• $1.6M on Polygon (55%)
• $940K on Fantom (32%)
• $244K on Cronos (8%)
• $98K on ETH (3%)
• $20k on Metis (1%)
Wallet- $118K
• USDC - $55K
• ETH - $43K (34 eth)
• Qi - 17K
debank.com
23/
@ThinkingETH @whale_everyday @miyazakiweb3 Protocol deposits:
1. QiDAO - $806K
• Locked Qi
2. Giddy - 761K
• Farming DAI
3. Beefy - $900K
• Farming beFTM & BIFI (on FTM)
• Farming BIFI (on Cronos)
4. SpookySwap - 216K
• farming WFTM + beFTM
• Beethoven X - $75K
• farming WFTM + beFTM
24/
1. QiDAO - $806K
• Locked Qi
2. Giddy - 761K
• Farming DAI
3. Beefy - $900K
• Farming beFTM & BIFI (on FTM)
• Farming BIFI (on Cronos)
4. SpookySwap - 216K
• farming WFTM + beFTM
• Beethoven X - $75K
• farming WFTM + beFTM
24/
@ThinkingETH @whale_everyday @miyazakiweb3 Takeaways
• Primarily on Polygon & Fantom
• When I analyzed Miyazaki’s wallet in April, the wallet was heavy in Fantom (85%) & had 17% of the portfolio is Polygon.
While still mainly in FTM & polygon, the breakdown changed to 45% & 55% respectively.
• Big on QiDAO
25/
• Primarily on Polygon & Fantom
• When I analyzed Miyazaki’s wallet in April, the wallet was heavy in Fantom (85%) & had 17% of the portfolio is Polygon.
While still mainly in FTM & polygon, the breakdown changed to 45% & 55% respectively.
• Big on QiDAO
25/
@ThinkingETH @whale_everyday @miyazakiweb3 4. vitalik @sir_pog
Wallet size: $1.06M
Chain breakdown:
• $874K on ETH (82%)
• $157K on Arbitrum (15%)
• $31K on Optimism (3%)
Wallet Holdings - $60K
• MAGIC - $42K
• HOP - $8K
• sUSD (on OP) - 6.9K
• MATIC - $686
26/
Wallet size: $1.06M
Chain breakdown:
• $874K on ETH (82%)
• $157K on Arbitrum (15%)
• $31K on Optimism (3%)
Wallet Holdings - $60K
• MAGIC - $42K
• HOP - $8K
• sUSD (on OP) - 6.9K
• MATIC - $686
26/
@ThinkingETH @whale_everyday @miyazakiweb3 @sir_pog Protocol Deposits:
1. Convex - 635K
• Staked rETH + wstETH
• locked CVX
2. Inverse - 143K
• Supplied WBTC, ETH, SUSHI, YFI
• Borrowed WBTC
3. GMX - $71.8K
• staked GLP, esGMX
4. Llama Airforce Union - $43K
• yield on FXS + cvxFXS & cvxCRV
27/
1. Convex - 635K
• Staked rETH + wstETH
• locked CVX
2. Inverse - 143K
• Supplied WBTC, ETH, SUSHI, YFI
• Borrowed WBTC
3. GMX - $71.8K
• staked GLP, esGMX
4. Llama Airforce Union - $43K
• yield on FXS + cvxFXS & cvxCRV
27/
@ThinkingETH @whale_everyday @miyazakiweb3 @sir_pog 5. TreasureDAO - 37K
• staked MAGIC
6. Synthetix (on OP) - 23.7K
• Lending SNX
• Borrowing sUSD
7. LIDO - 23.6K
• Staked stETH
8. Rari Capital
• lending MATIC
28/
• staked MAGIC
6. Synthetix (on OP) - 23.7K
• Lending SNX
• Borrowing sUSD
7. LIDO - 23.6K
• Staked stETH
8. Rari Capital
• lending MATIC
28/
@ThinkingETH @whale_everyday @miyazakiweb3 @sir_pog Takeaways:
• Primarily on the ETH ecosystem
• Holding large position of MAGIC
• Staking ETH & eth backed coins
• There haven’t been too many changes since my last analysis in April
debank.com
29/
• Primarily on the ETH ecosystem
• Holding large position of MAGIC
• Staking ETH & eth backed coins
• There haven’t been too many changes since my last analysis in April
debank.com
29/
@ThinkingETH @whale_everyday @miyazakiweb3 @sir_pog 3. YFImaxi
Wallet size: $4.7M
Chain breakdown:
• 4.05M on Eth (86%)
• 307K on Harmony (7%)
• 90k on DFK (2%)
• 87k on Polygon (2%)
Wallet holdings - 3M
• LDO - 1.028M
• ETH - $272K (223 ETH)
• 1USDC - $248K
• FRAX - $215K
• SYN - $141K
• WETH - $138K
• XMON
30/
Wallet size: $4.7M
Chain breakdown:
• 4.05M on Eth (86%)
• 307K on Harmony (7%)
• 90k on DFK (2%)
• 87k on Polygon (2%)
Wallet holdings - 3M
• LDO - 1.028M
• ETH - $272K (223 ETH)
• 1USDC - $248K
• FRAX - $215K
• SYN - $141K
• WETH - $138K
• XMON
30/
@ThinkingETH @whale_everyday @miyazakiweb3 @sir_pog Protocol Deposits:
1. Across V2 - $490K
• LP ETH (400 ETH)
2. Balancer V2 - $468K
• Farming LDO + ETH
3. Fixedforex - $413K
• locked KP3R
4. Curve - 138K
• Locked CRV
5. GMX - 72K
• staked GMX
6. DeFi Kingdoms - 71K
• Farming CRYSTAL + AVAX, CRYSTAL + USDC
31/
1. Across V2 - $490K
• LP ETH (400 ETH)
2. Balancer V2 - $468K
• Farming LDO + ETH
3. Fixedforex - $413K
• locked KP3R
4. Curve - 138K
• Locked CRV
5. GMX - 72K
• staked GMX
6. DeFi Kingdoms - 71K
• Farming CRYSTAL + AVAX, CRYSTAL + USDC
31/
@ThinkingETH @whale_everyday @miyazakiweb3 @sir_pog Takeaways:
• Primarily on ETH
• Has a p big position in Harmony (7% of wallet)
• Lots of ETH staking & big position of LDO
• Haven’t been too many changes since my last analysis
debank.com
32/
• Primarily on ETH
• Has a p big position in Harmony (7% of wallet)
• Lots of ETH staking & big position of LDO
• Haven’t been too many changes since my last analysis
debank.com
32/
@ThinkingETH @whale_everyday @miyazakiweb3 @sir_pog 2. PennilessWassie
Wallet size: $17. 7M
Chain breakdown:
• 17M on ETH (96%)
• 400K on Arbitrum (2%)
• $258 (1%)
Wallet Holdings - $83K
• sUSD (OP) - 39K
• sUSD - 37K
Protocol Deposits:
1. Frax - $6.7M
• FXS locked
• farming FXS + FRAX
debank.com
33/
Wallet size: $17. 7M
Chain breakdown:
• 17M on ETH (96%)
• 400K on Arbitrum (2%)
• $258 (1%)
Wallet Holdings - $83K
• sUSD (OP) - 39K
• sUSD - 37K
Protocol Deposits:
1. Frax - $6.7M
• FXS locked
• farming FXS + FRAX
debank.com
33/
@ThinkingETH @whale_everyday @miyazakiweb3 @sir_pog 1. Convex - 5.06M
• locked CVX
• PUSd + DAI + USDC + USDT
2. Liquidity - 3.09M
• lending ETH (3K eth)
• borrowed LUSD
• farming LUSD
• Staked LQTY
3. Curve - 1.67M
• Locked CRV
4. Vesta Finance - $384K
• supplied gOHM
• borrowed VST
34/
• locked CVX
• PUSd + DAI + USDC + USDT
2. Liquidity - 3.09M
• lending ETH (3K eth)
• borrowed LUSD
• farming LUSD
• Staked LQTY
3. Curve - 1.67M
• Locked CRV
4. Vesta Finance - $384K
• supplied gOHM
• borrowed VST
34/
@ThinkingETH @whale_everyday @miyazakiweb3 @sir_pog 5. Synthetix - $430K
• lending SNX
• borrowed sUSD
Takeaways:
• Primarily on ETH (96% of wallet)
• Most of the wallet is being put to work (17.6M are deposited in various protocols)
• Big on Frax ( 5.5M locked in FRAX)
• Farming stables on blue chip platforms
35/
• lending SNX
• borrowed sUSD
Takeaways:
• Primarily on ETH (96% of wallet)
• Most of the wallet is being put to work (17.6M are deposited in various protocols)
• Big on Frax ( 5.5M locked in FRAX)
• Farming stables on blue chip platforms
35/
@ThinkingETH @whale_everyday @miyazakiweb3 @sir_pog 1. Ethereum @bizyugo
Wallet Size: $21.5M
Chain breakdown:
• $9.8M on Eth (46%)
• $9.4M on Avalanche (44%)
• $1.16M on Arbitrum (5%)
• $600k on BSC (3%)
• $375K on fantom (2%)
Wallet holdings - $811K
• VOLT - 332K
• BIT - 46K
• SHIB - 43K
• BNB - 41K
• WXT - 38K
36/
Wallet Size: $21.5M
Chain breakdown:
• $9.8M on Eth (46%)
• $9.4M on Avalanche (44%)
• $1.16M on Arbitrum (5%)
• $600k on BSC (3%)
• $375K on fantom (2%)
Wallet holdings - $811K
• VOLT - 332K
• BIT - 46K
• SHIB - 43K
• BNB - 41K
• WXT - 38K
36/
@ThinkingETH @whale_everyday @miyazakiweb3 @sir_pog @bizyugo Deposits:
1. Yeti Finance - $3.57M
• Farming YUSD + USDC + USDt, YUSD & YETI
• lent WBTC.e , USDC
• borrowed YUSD
2. Vector - $2.85M
• farming USDC, USDT, YUSD, USDt + WAVAX, WAVAX
3. Aave V3 - $2.57M
• Lent WBTC.e, WAVAX, LINK, AAVE, USDT
• Borrowed USDC
37
1. Yeti Finance - $3.57M
• Farming YUSD + USDC + USDt, YUSD & YETI
• lent WBTC.e , USDC
• borrowed YUSD
2. Vector - $2.85M
• farming USDC, USDT, YUSD, USDt + WAVAX, WAVAX
3. Aave V3 - $2.57M
• Lent WBTC.e, WAVAX, LINK, AAVE, USDT
• Borrowed USDC
37
@ThinkingETH @whale_everyday @miyazakiweb3 @sir_pog @bizyugo 4. Convex - $2.4M
• staked USDT + WBTC + ETH, ETH + CVX, Silo + FRAX, ETH + CRV
• Locked CRV
5. Aave - $1.2M
• Supplied LINK, WBTC, REN UNI, SNX, CRV
• Borrowed USDC
6. Liquidity - $873K
• Farming LUSD
• supplied ETH
• Borrowed LUSD
3. Maple - $804K
• farming USDC
• staked USDT + WBTC + ETH, ETH + CVX, Silo + FRAX, ETH + CRV
• Locked CRV
5. Aave - $1.2M
• Supplied LINK, WBTC, REN UNI, SNX, CRV
• Borrowed USDC
6. Liquidity - $873K
• Farming LUSD
• supplied ETH
• Borrowed LUSD
3. Maple - $804K
• farming USDC
@ThinkingETH @whale_everyday @miyazakiweb3 @sir_pog @bizyugo Takeaways:
• Primarily on ETH (46% of wallet) & AVAX (44% of wallet)
• Large positions in a bunch of alt coins
• Putting stables to work. Borrowing farming them on various protocols
• Back in April, this wallet had 20% in fantom. Now it’s only 2%
debank.com
• Primarily on ETH (46% of wallet) & AVAX (44% of wallet)
• Large positions in a bunch of alt coins
• Putting stables to work. Borrowing farming them on various protocols
• Back in April, this wallet had 20% in fantom. Now it’s only 2%
debank.com
@ThinkingETH @whale_everyday @miyazakiweb3 @sir_pog @bizyugo Overall Takeaways & trends
1. Ethereum is the chain of choice.
In April, when I looked over the top 10 wallets, the chain of choice ( where they’ve a majority) was distributed.
6/10 wallets were primarily on ETH. But wallets had sizeable positions on different chains.
40/
1. Ethereum is the chain of choice.
In April, when I looked over the top 10 wallets, the chain of choice ( where they’ve a majority) was distributed.
6/10 wallets were primarily on ETH. But wallets had sizeable positions on different chains.
40/
@ThinkingETH @whale_everyday @miyazakiweb3 @sir_pog @bizyugo Things are looking different now.
9/10 wallets are primarily on Eth. Additionally, these whales have significantly increased their holdings of Arbitrum & Optimism.
In this bear market, ETH seems to be what everyone trusts. In the last cycle, a lot of ETH killers came up.
9/10 wallets are primarily on Eth. Additionally, these whales have significantly increased their holdings of Arbitrum & Optimism.
In this bear market, ETH seems to be what everyone trusts. In the last cycle, a lot of ETH killers came up.
@ThinkingETH @whale_everyday @miyazakiweb3 @sir_pog @bizyugo But now, everyone is moving to ETH.
The ETH killer narrative may die with this cycle & only ETH & a few other L1s may survive.
42/
The ETH killer narrative may die with this cycle & only ETH & a few other L1s may survive.
42/
@ThinkingETH @whale_everyday @miyazakiweb3 @sir_pog @bizyugo Increase in Eth L2s
I’ve noticed an increase in ETH L2s. A lot of these whales now have positions in Optimism & Arbitrum.
4/10 wallets have positions on Optimism. #10 wallet FOMO has 41% of assets on OP. #7 wallet Fewture has 23% of assets on OP.
43/
I’ve noticed an increase in ETH L2s. A lot of these whales now have positions in Optimism & Arbitrum.
4/10 wallets have positions on Optimism. #10 wallet FOMO has 41% of assets on OP. #7 wallet Fewture has 23% of assets on OP.
43/
@ThinkingETH @whale_everyday @miyazakiweb3 @sir_pog @bizyugo 4/10 wallets have positions on Arbitrum. #4 Wallet Vitalik has 15% of assets on Arbitrum
With ETH being everyone’s pick in the bear market, it makes sense that ETH L2s are gaining more attention.
Additionally, there seems to be a narrative shift to ETH L2s.
44/
With ETH being everyone’s pick in the bear market, it makes sense that ETH L2s are gaining more attention.
Additionally, there seems to be a narrative shift to ETH L2s.
44/
@ThinkingETH @whale_everyday @miyazakiweb3 @sir_pog @bizyugo 3. Less Fantom
In April, an interesting observation was that 6/10 wallets had position on fantom.
Now, there isn’t as much fantom. Only 3/10 wallets have position in Fantom.
Of these 3, two wallets only have 2% of their portfolio in Fantom.
45/
In April, an interesting observation was that 6/10 wallets had position on fantom.
Now, there isn’t as much fantom. Only 3/10 wallets have position in Fantom.
Of these 3, two wallets only have 2% of their portfolio in Fantom.
45/
@ThinkingETH @whale_everyday @miyazakiweb3 @sir_pog @bizyugo However, #5 Miyazaki is still big on Fantom.
In April, 85% of Miyazaki’s portfolio was on Fantom. Now, 32% of the wallet is on Fantom.
Overall, there is definetely a lot less Fantom.
46/
In April, 85% of Miyazaki’s portfolio was on Fantom. Now, 32% of the wallet is on Fantom.
Overall, there is definetely a lot less Fantom.
46/
@ThinkingETH @whale_everyday @miyazakiweb3 @sir_pog @bizyugo 4. Stablecoins
All of the wallets have significant stablecoin holdings. A large portion of each wallet is in stablecoins.
This is presumably to be liquid & earn low risk yield.
When the dust settles, these guys will likely get great discount
47/
All of the wallets have significant stablecoin holdings. A large portion of each wallet is in stablecoins.
This is presumably to be liquid & earn low risk yield.
When the dust settles, these guys will likely get great discount
47/
@ThinkingETH @whale_everyday @miyazakiweb3 @sir_pog @bizyugo Being liquid is key for anyone - Whale or not.
Stables are a great way to do this.
These guys are also diversified in their stables, the most popular being USDC, USDT, FRAX
48/
Stables are a great way to do this.
These guys are also diversified in their stables, the most popular being USDC, USDT, FRAX
48/
@ThinkingETH @whale_everyday @miyazakiweb3 @sir_pog @bizyugo 5. Top Tier protocols.
Most of the whales are almost solely in the top tier defi protocols ( Aave, Curve, etc). This is to minimize risk of the protocol blowing up & earn some yield.
In April, I saw some more degen stuff.
49/
Most of the whales are almost solely in the top tier defi protocols ( Aave, Curve, etc). This is to minimize risk of the protocol blowing up & earn some yield.
In April, I saw some more degen stuff.
49/
@ThinkingETH @whale_everyday @miyazakiweb3 @sir_pog @bizyugo 6. ETH staking
In anticipation of the merge, every whale is holding & staking ETH.
Common plays:
• Lido staking
• Rocketpool
• Maximizing yield through putting staking rewards on Curve
While eth staking was prevalent last month as well, it has increased significantly.
50/
In anticipation of the merge, every whale is holding & staking ETH.
Common plays:
• Lido staking
• Rocketpool
• Maximizing yield through putting staking rewards on Curve
While eth staking was prevalent last month as well, it has increased significantly.
50/
@ThinkingETH @whale_everyday @miyazakiweb3 @sir_pog @bizyugo If you want to read my top 10 analysis from April, here it is:
covduk.medium.com
Disclaimer: things have changed since!
covduk.medium.com
Disclaimer: things have changed since!
@ThinkingETH @whale_everyday @miyazakiweb3 @sir_pog @bizyugo And that's it. Hope top 10 wallet analysis was insightful!
• Pls give this a retweet (took a long time 😩)
• Follow me @Cov_duk
• Read this & follow me on my substack covduk.substack.com
• Pls give this a retweet (took a long time 😩)
• Follow me @Cov_duk
• Read this & follow me on my substack covduk.substack.com
Give this a retweet!
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