INTRO

What is Near?

The main cryptocurrency of the NEAR network is NEAR. To create a decentralized network, an economic incentive must be created for people to act as nodes in this network; NEAR has such a role in the Near network. Every transaction carried out in the Near network requires the payment of a fee; This fee is paid in NEAR cryptocurrency. The Near protocol uses the proof-of-stake or PoS consensus algorithm, and people must buy and stake NEAR digital currency to participate in this network.

GOAL

In this dashboard, we check the ordinary whales of the Near network. In this dashboard, we follow the movement of the whales based on the price of the Near token. As you know, the price of the Near token has increased significantly since the beginning of 2023. In this dashboard, we tried to track the behavior of the ordinary whales of the Near network. Let's check with the price of Naer Token and see where the whales are hanging, we will also check the behavior of whales regarding the transfer of Naer Token as well as staking and swap.

METHOD

The key table used in this dashboard is near.core.fact_transfers. By using the difference between the amount of deposit and the amount of withdrawal, the amount of net NEAR balance in the addresses of 20 ordinary whales has been calculated, and using these addresses, the transfer behaviors of these addresses and also the behaviors The staking and swapping of these addresses has been checked using the near.core.ez_dex_swaps and near.core.dim_staking_actions tables. To call top ordinary whales ،addresses like binance, nfendowment, proximity, paras are filtered.

The near.core.dim_address_labels table is used to call the transfer destination of the top whales, and the address of the top 20 whales is set as SENDER and SIGNER.

Whale Stats

Insights

• According to the graphs above, the top whale Naar Holder has more than 20M Near tokens. The top 3 holders have more than 50M $NEAR tokens, although these addresses are not the addresses of well-known exchanges and platforms.
• It can be said that the top 20 Near token holders have nearly 100 M of this token in their wallets.

NEAR Price and Correlation with Deposit and Withdraw

Insights

• The first branch of the whales hanging seems to be on January 4th, where the NEAR token price has reached $1.49 on January 4th after a 24 cent increase from 1.25 on January 1st. As we can see, on January 4th, about 6.7 million NEAR tokens were deposited, while about 4.9 million NEAR tokens were withdrawn from their wallets by the top 20 whales.
• We can see that on January 4, whale d73888 deposited about 1.5 million near tokens and whale 5c33c withdrew about 3.5 million near tokens from the wallet.
• The number of whale transfer transactions shows that their activity increased on January 10. This is the second place in the ocean where whales have been hanged. It can be said that the price increase has played an effective role in the activity of whales.
• The transfer data, including the volume and number of transactions, show that the activity of whales has increased after the price of Near token crossed the $2 mark, and on January 14 and the price reached $2.17 and on January 22 and the price reached $2.57, the volume of deposits and withdrawals Whales have increased.
• As can be seen, on January 14, more than 2,200 deposit transactions and more than 1,500 withdrawal transactions were executed by the 20 whales in question.
• In general, it can be said that according to the transfer data, the activity of the top 20 whales had a significant correlation with the NEAR token price, and when the price increased, the whales discussed in this dashboard transferred NEAR tokens to wallets, and the volume of the transfer of this asset to wallets is more than the volume of its withdrawal, so it can be said that our whales tend to accumulate this asset when the price increases.
• We can see that ccb91 whale had the largest number of transfer transactions and the most activity in terms of transfer volume belongs to the address 5c33c.

Do whales pay more fees in the near ecosystem?

Insights

• The total fee paid by the top 20 whales in the Near ecosystem is about 60 $Near, and the address ccb91, which had the highest number of transfer transactions, paid about 17.5 $near.
• The interesting thing is that the top near whale that has the most amount of this asset is only 0.00009 $Near has paid as a fee.
• It can be said that the whales do not necessarily pay more fees because they have many assets, and another noteworthy point is the very low fees in the NEAR network, as we can see the ccb91 address with more than 20,000 transfer transactions since the beginning of 2023, only paid about 17.5 NEAR fees.

Where do whales swim in the ocean?

Insights

• According to the graphs above, our whales tend to operate in centralized exchanges and move their NEAR assets in these platforms. As can be seen, more than 172 million NEAR tokens have been entered into centralized exchanges by our whales, and more than 340 million of these assets It has been removed from centralized exchanges by whales.
• The share of Binance exchange in depositing and the share of Huobi exchange in withdrawing Near token is more than other platforms.

Whales Staking Behavior

Insights

• 7 of our top 20 whales have participated in the Nair Ecosystem Staking process.

• These whales have staked the near stock in the near ecosystem and tend to reap the rewards of this process.

• More than 38 million Near tokens have been staked by our top 7 whales in the Near ecosystem and about 1 million of this asset has been Unstaked from this ecosystem by our whales.

Whales Swap Behavior

Insights

• Only one of our 20 whales participated in the swap process. The address bb273c has purchased 20,000 NEAR tokens through the swap process.
• This address has sold 10 NEAR tokens through the swap process.

Conclusion

In this dashboard, we tracked the activity of the whales at the same time as the price of the Near token increased from the beginning of 2023 and we observed that the activity of the whales increases at the same time as the price of the Near token increases. In fact, since the beginning of 2023 and with the increase in the price of the Near token during the price peaks, we have seen an increase in volume and the number of near token transfer transactions.

The activity of whales in this dashboard can be divided into two price segments, i.e. under $2 and above $2 . With the increase in the price and the price reaching about $1.8 , as well as the increase in the price above $2 , we see an increase in the activity of transfers to and from the wallets. Most of the activity of the whales of this dashboard has been concentrated in cex and the movement of near token can be seen in these exchanges. Also, about half of these whales have participated in the staking process of the Near ecosystem and have placed their near tokens reserves in this process. Swap activity in the Near ecosystem by our whales was low and only one whale participated in this process In general, it can be said that the whales of the near ecosystem tend to trade this token on cex platforms and earn profit in this way, as well as earn profit through the stake of this asset in the Near ecosystem.