Analysis of the relationship between the chain dynamics of giant whales and VCs and Token price fluctuations

深潮TechFlow

特邀专栏作者

2023-04-11 12:00

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Giant whales will also suffer huge losses.

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Giant whales will also suffer huge losses.

Compilation of the original text: Deep Tide TechFlow

Crypto researcher Thor Hartvigsen summarizes the activities of some well-known venture capital funds, investors and traders in the cryptocurrency market in the last 30 days. These activities involve a variety of digital assets, including GNS, DYDX, GMX, RDNT, DPX, ARB, LDO, ETH, BTC, MATIC, and AAVE, among others.

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1. Arca (venture capital fund)

Last 30 days:

• Purchased $350,000 worth of GNS | Entry Price: $7.06;

• Bought $4.1M worth of DYDX | Entry Price: $2.22;

• $3.5 million worth of GMX sold at an average price of approximately $74.6.

Note: Arca still holds GMX totaling $1.6m, and made a substantial purchase in Jan/Feb when it was between $40-70.

• Sold $1 million worth of RDNT at an average price of $0.41. Previously purchased in February at an average price of $0.277.

• Sold $0.6 million worth of DPX at an average price of $315. Previously purchased in February for an average price of $391.

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2. Arthur Hayes (Giant Whale)

Arthur seems to have acquired LDO tokens at an average price of $2.53 during 2022. But now sold all 758,000 LDO tokens he held for $2.42, worth $1.9 million.

In the wallets we know, Arthur still holds:

• $17.5 million worth of ETH;

• GMX worth $15.7 million;

• ENS worth $3.2 million;

• USD 1 million worth of FXS;

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3. Andrew Kang (Giant Whale)

Interestingly, ARB tokens are the only larger spot investments in Kang’s 3 traceable wallets.

Purchased $800,000 worth of ARB tokens on April 4th for $1.25.
Purchased $1.51 million worth of ARB tokens on April 5 at a price of $1.23.

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4. DragonFly Capital (venture capital fund)

Dragonfly appears to have sold various assets in March:

• Received $12 million worth of LDO tokens in July 2022. The funds had been sitting idle in a wallet but were moved in early March.

• $5.7 million of LDO tokens were sold on OKX on March 1st and 21st.

Dragonfly still holds 21.1 million LDO tokens (valued at $56 million), and will receive another 10 million LDO tokens from the unlocking of the investor round on August 25.

• 8.3 million MATIC tokens (worth $10.2 million) were sold on March 3.

• And 80,000 AAVE tokens (worth $5.9 million).

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5. GoldenTree (venture capital fund)

• GoldenTree acquired 5.9 million SUSHI tokens during September-October 2022 at an average price of $1.24.

• On March 23, 5 million SUSHI tokens were sent to Binance and may be sold for $1.04.

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6. Other notable activities

Republic Capital transferred 24.5 million MATIC tokens (worth $27 million) to Coinbase (possibly for sale) on March 6.

The deal was received in January of this year from the wallet used for the growth of the Polygon ecosystem.

Whale 0x Sisyphus bought 200,000 LDO tokens worth $480,000 for $2.47.

Wintermute purchased 2.5 million LDO tokens (worth $6 million) in April, likely for market-making purposes, as the wallet routinely sends LDO tokens to various centralized exchanges.