Original Author | CoinGecko Lim Yu Qian
Translation | Odaily Daily Jessica
Editor’s Note: CoinGecko has released a report on NFT whale investments. In order to have a clearer understanding of the investments and profits of NFT whales, Odaily Daily has compiled the report as follows:
Who are the top 20 Ethereum NFT whales?
The top NFT whale is SethS, with a portfolio value of 11,748 ETH (valued at approximately $19.23 million as of September 19). Wilcox follows closely behind with a portfolio value of 11,336 ETH (approximately $18.55 million).
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These top NFT whales on Ethereum are all multi-millionaires in terms of NFT holdings, but have not yet reached billionaire status.
Among the top 20 NFT whales, 18 of them hold CryptoPunks. The only two without CryptoPunks are Huang Licheng, who holds BAYC worth 4552 ETH and ranks tenth.
The top Ethereum NFT whales, ranked by portfolio value (converted to USD), are between approximately $4.29 million and $19.23 million
Top NFT whales vs. Top NFT traders
According to CoinGecko data, as of September 20, the top NFT traders have earned profits ranging from 5221 ETH to 55,291 ETH through Ethereum NFT investments, valued between $9.6 million and $101.63 million.
Among the top 20 NFT whales, 4 of them are also among the top 15 NFT traders. SethS is both a top NFT whale and trader, ranking first. Similarly, Mr.703 ranks third in both categories.
In other words, SethS and Mr.703 may be among the most successful early NFT investors.
On the other hand, the second-largest whale Wilcox ranks lower as an NFT trader and has relatively average profits. Punks OTC, a smaller NFT whale, is the second-highest-profit NFT trader. This may highlight two different NFT investment strategies, with Wilcox focusing more on long-term appreciation, and Punks OTC prioritizing short-term profitability.
Which NFTs do the whales hold?
Almost all of the valuable portfolios of the top NFT whales come from holding CryptoPunks. For 18 out of the top 20 NFT whales, blue-chip PFP NFT collections account for at least half of their portfolio value.
Many NFT whales are considered the “OG” of CryptoPunks and have participated in the minting of the series. In particular, Wilcox currently owns the most CryptoPunks, with 215, while SethS owns 668 CryptoPunks V1.
An exception is Machi Big Brother Huang Licheng and JRNY Crypto, who have joined the ranks of top NFT whales with BAYC. Machi achieved his NFT whale ranking with 135 BAYC, while JRNY Crypto (or Tony) holds 103 BAYC. At the time of writing this article, neither of them holds any CryptoPunks in their portfolios.
Unlike the other 19 largest NFT whales, Huang Licheng is the only whale to have suffered losses due to NFT investments, with an estimated total profit and loss (PnL) of about -6,776 ETH, most of which is unrealized losses.
Top NFT Collectors
Among the top 20 NFT whales, 7 of them are also big collectors: SethS, Wilcox, Mr.703, Gary Vaynerchuk, Machi, ddaavvee, and JRNY Crypto. They each own over 1,000 NFTs in their whale portfolios. For example, NFT whale ddaavvee holds a large number of 4,872 NFTs in their athrab.eth address.
Among the top 20 NFT whales, 5 of them have exceptionally diverse portfolios, with each NFT coming from over 60 Ethereum collections. ddaavvee’s collection is particularly diverse, with over 202 different series, followed by Machi with 101 different series. In comparison, the average number of different NFT collections held by top NFT whales is about 34.
Note: This study is based on rankings from the NFTGo leaderboard as of September 18th. The NFTGo leaderboard ranks whale addresses with NFT portfolios valued at least $1 million. NFTGo identifies highly correlated addresses based on the number of receives and sends, investigates whether they belong to the same whale, and groups them together in relevant cases.
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