A deep dive into Popular NFT investor wallet
I took a deep dive into the wallet of Mr. Top Signal himself. ?
— Carl (@Carl_m101) April 21, 2023
Best of compilation below.
?⤵️
(1/10) pic.twitter.com/Il6g3YkdCp
His first buy after a longer break, which sparked the question: Will @frankdegods withstand the storm? ?
— Carl (@Carl_m101) April 21, 2023
Let’s take a look at some of Aoki’s history next.
(2/10) pic.twitter.com/hO5WYuz6Yy
Moonbirds:
— Carl (@Carl_m101) April 21, 2023
Top buy at its best, although bear market did every collection dirty afterwards.
(3/10) pic.twitter.com/oxuV5V1SDA
Doodles:
— Carl (@Carl_m101) April 21, 2023
This was a surprise to me as he was very early here and even his 270 ETH buy didn’t mark the top.
(4/10) pic.twitter.com/E2VHDvWbLy
Cool Cats:
— Carl (@Carl_m101) April 21, 2023
Almost close to signaling the top here although we saw very nice bouncebacks before the bear market tore everything apart.
(5/10) pic.twitter.com/s4KJv1bGRp
Clone X:
— Carl (@Carl_m101) April 21, 2023
Again, very early entry, although with some rares above floor. But overall nowhere near the top.
(6/10) pic.twitter.com/l2IP6WQ2M6
BAKC:
— Carl (@Carl_m101) April 21, 2023
Back to being himself here and perfectly timing the top for his kennel buy.
Side note: He was very early on Bayc and Mayc ?
(7/10) pic.twitter.com/JLRbhC8lCn
Pudgy Penguins:
— Carl (@Carl_m101) April 21, 2023
Another surprise: very good buy-in here before Luca took over, almost timing bottom. ??
(8/10) pic.twitter.com/e8fcbsn4IB
Azuki:
— Carl (@Carl_m101) April 21, 2023
Mr. Top Signal at it again, but overall one of the projects that has been putting up a good fight with the ?
(9/10) pic.twitter.com/R7WypTLXY5
To sum uo: Aoki might not be Mr. Top Signal after all, but we should still be careful once he buys in.
— Carl (@Carl_m101) April 21, 2023
Also please note that this thread is for entertainment only and I don’t mean to FUD anything (would be fudding my own after all) ❤️
Appreciate every like, comment, share and… https://t.co/IljXXXHw5o
Is the memecoin frenzy back?
A few wallets holding $PEPE went from 500$ to more than $3.78M (7500x) in 5 days.
— Louround ? (@Louround_) April 20, 2023
What if I told you that those wallets are in relation and might nuke the market if they sell their holdings?
An on-chain investigation using @bubblemaps ? pic.twitter.com/MS0yIeoyC9
We’ve seen $PEPE surging as a winner in the recent meme narrative, at the time of writing, $PEPE has a Market cap of $140M and $160M in FDV which is quite impressive for a meme token but is still coherent regarding $SHIB or $DOGE.
— Louround ? (@Louround_) April 20, 2023
However,… pic.twitter.com/6TAQxa75R2
The main issue with $PEPE is the available on-chain liquidity, totaling $2.9M on Uni V2 and $1.8M on Uni V3 (benefiting from concentrated liquidity, thus much lower than $1.8M)
— Louround ? (@Louround_) April 20, 2023
So what are the risks you may ask? pic.twitter.com/96giFlRgNA
When we analyze the actual connections between wallets with @bubblemaps, we identify a few wallet clusters where the major one has a connection with 2.7% of the supply ($140M * 2,7% = $3.78M)
— Louround ? (@Louround_) April 20, 2023
What does that mean?
Those wallets most probably know each other/are the same person! pic.twitter.com/pAyBvO4ZOL
This causes a major risk for the market and holders as those wallets hold a token value superior to all the on-chain available liquidity.
— Louround ? (@Louround_) April 20, 2023
Selling their bags will drain all the liquidity and dump the token by more than 99% ? pic.twitter.com/lGaE4qXYAi
What’s more worrying?
— Louround ? (@Louround_) April 20, 2023
5 days ago $PEPE had 2 major clusters that had links with 5% of the supply each!
Based on the current valuation, 5% of the supply equals to $140M * 5% = $7M which is once again higher than all the available on-chain liquidity. pic.twitter.com/zUfqUTdofJ
The suspicious behavior has been confirmed by transaction timing, the wallets have been freshly created and funded for the sole purpose of purchasing $PEPE a few minutes after its listing.
— Louround ? (@Louround_) April 20, 2023
That’s a really surprising coincidence!https://t.co/AyJXll5wQY
You can track by yourself the transactions and links between wallets through this link on Bulbblemaps, allowing you to carefully monitor their future activity ?https://t.co/pzEnfJ8uv4
— Louround ? (@Louround_) April 20, 2023
To conclude, the thin $PEPE liquidity compared to its market cap is a major risk for token holders, resulting in a potential market crash if some holders decide to take profit from their positions.
— Louround ? (@Louround_) April 20, 2023
I would recommend to carefully manage your exposure as $PEPE remains a meme coin. pic.twitter.com/3tYNqVhXTj
This ? has been made for the sole purpose of providing on-chain analytics and info due to the underlying risks the liquidity provides
— Louround ? (@Louround_) April 20, 2023
I made this thread in collaboration with Bubblemaps which is part of my Ambassadorship & mission to provide on-chain data accessible to anyone.
Breakdown of Ethereum Q1 2023
1/ In a quarter marked by instability in traditional finance, #Ethereum completed its transition to PoS with the Shapella upgrade, finding improvements in activity across its ecosystem.@kunalgoel breaks down $ETH's Q1 below ? pic.twitter.com/pofup5LAfI
— Messari (@MessariCrypto) April 21, 2023
2/ Q1 2023 was #Ethereum’s second quarter of negative net issuance.
— Messari (@MessariCrypto) April 21, 2023
As market sentiment improved, there was an uptick in on-chain activity, which led to higher fees and greater burn. pic.twitter.com/XbUoatvZhA
1/ In a quarter marked by instability in traditional finance, #Ethereum completed its transition to PoS with the Shapella upgrade, finding improvements in activity across its ecosystem.@kunalgoel breaks down $ETH's Q1 below ? pic.twitter.com/pofup5LAfI
— Messari (@MessariCrypto) April 21, 2023
2/ Q1 2023 was #Ethereum’s second quarter of negative net issuance.
— Messari (@MessariCrypto) April 21, 2023
As market sentiment improved, there was an uptick in on-chain activity, which led to higher fees and greater burn. pic.twitter.com/XbUoatvZhA
3/ Annualized real yield for $ETH's validators hovered around 5.9%, with the nominal yield falling to 5.6%, a decrease of 0.4% QoQ.
— Messari (@MessariCrypto) April 21, 2023
This decline was partially offset by higher a net deflation of 0.3%. pic.twitter.com/4xEHTNvu9Q
4/ Lucrative yields and the completion of the Shanghai/Capella upgrade, enabling withdrawals from the $ETH staking contract, led to 2.2M new $ETH staked over the quarter.#Ethereum’s staking ratio ended the quarter at 15%, up from 13% at the beginning of the quarter. pic.twitter.com/xuL68peD7O
— Messari (@MessariCrypto) April 21, 2023
5/ A major concern for $ETH at the end of last year centered around fears of censorship.
— Messari (@MessariCrypto) April 21, 2023
As stated in @kunalgoel's December report, these concerns were overstated.
The percentage of validators using censoring relays was just 29% at the end of the quarter, down from 61%. https://t.co/P7wacmmpM6
6/ Onchain activity was flat for the quarter, with average daily transactions at 1.1M.
— Messari (@MessariCrypto) April 21, 2023
Declines in #DeFi activity were offset by increases in #NFT and Bridge activity. pic.twitter.com/mUuqWwXOnE
7/ The decline in #DeFi activity was likely due to increases in L2's share of transactions.
— Messari (@MessariCrypto) April 21, 2023
L2 share of transactions increased to 45% in Q1 2023 from 38% in Q4 2022. pic.twitter.com/YnRzggEemq
8/ As mentioned in the opener, #Ethereum completed the Shanghai/Capella upgrade, allowing for withdrawals from the staking contract.
— Messari (@MessariCrypto) April 21, 2023
Over 1.1M $ETH has been unstaked. Even then, with 590K $ETH newly staked since Shapella, deposits outweigh full withdrawals by almost 3x. pic.twitter.com/0dhAkc0nNH
9/ With the Shapella upgrade, #Ethereum has fully transitioned to Proof-of-Stake.
— Messari (@MessariCrypto) April 21, 2023
The next upgrade, EIP-4844 or proto-danksharding, will introduce ephemeral data storage or storage blobs, potentially making rollups 10-100x cheaper. pic.twitter.com/TV90Dj7iuC
10/ In the previous quarter, @Binance consolidated its wallets, which led to a spike in the number of active wallets.
— Messari (@MessariCrypto) April 21, 2023
As a result, the average number of daily active addresses on #Ethereum saw a decline of 4% to 425K. pic.twitter.com/suMZSTlv61
11/ #Ethereum had a strong growth of 29% in its total value locked (TVL) to $33B.
— Messari (@MessariCrypto) April 21, 2023
However, its growth pales in comparison to the relative growth in the TVL of L2s, as @Arbitrum and @OptimismFND’s TVL grew by 135% and 83% respectively. pic.twitter.com/RWrDxVJeHG
12/ Stablecoins on ETH fell by $13B over the quarter to $73 billion.
— Messari (@MessariCrypto) April 21, 2023
The supply for $USDC fell by $10B as it depegged briefly, while $BUSD had outflows of $5B as Paxos announced that it will be ending its partnership with @Binance. pic.twitter.com/d2rVM93uDS
13/ Trading volumes on decentralized exchanges increased by 17% for the quarter to $4B.
— Messari (@MessariCrypto) April 21, 2023
March 11, 2023, the day of the USDC depeg, was the day of highest trading for the quarter, with $40B in volumes being logged. pic.twitter.com/J4tWP2T4is
14/Daily #NFT volumes saw a huge surge of 146% in Q1 2023 to $45M.
— Messari (@MessariCrypto) April 21, 2023
There was a noticeable increase in activity after the Blur airdrop. pic.twitter.com/7hzmXmyM08
15/ TVL on @Arbitrum surged to $2.5B at the end of the quarter, driven by native applications @GMX_IO and @RDNTCapital.@OptimismFND’s TVL also increased significantly, growing by 80% for the quarter to $1B, with the help of native applications @VelodromeFi and @SonneFinance. pic.twitter.com/g36ZWNbb9B
— Messari (@MessariCrypto) April 21, 2023
16/ Annualized validator yield for the quarter was 5.6%, slightly below 6% in the previous quarter.
— Messari (@MessariCrypto) April 21, 2023
The majority of the yield was on the back of new issuance, which contributed 3.9% of the 6%.
