The Solana Smart Money

    What is the Question?🚨


    Create a dashboard that tracks the most profitable traders on Solana (both in terms of token swaps and with NFTs). Use parameters to help define who falls under the category of most profitable and over what timeframe. 

    What has "smart money" been doing on Solana over the past month? Over the past week? Are they active traders or do they hold positions for days at a time? What projects have yielded the most profit for Solana traders? Are there any indicators of what their next trades or strategy will be? How does your dashboard compare to Hellomoon's smart money inflows and outflows?

    Analyzed Topics:

    1. Profitable Traders on Swaps
    2. Profitable Traders on NFTs
    3. Tracking Smart Money

    Introductionđźš©


    What is Solana?

    Solana is a blockchain platform designed to host decentralized, scalable applications. Founded in 2017, it is an open-source project currently run by Solana Foundation based in Geneva, while the blockchain was built by San Francisco-based Solana Labs.

    Solana is much faster in terms of the number of transactions it can process and has significantly lower transaction fees than rival blockchains like Ethereum. The cryptocurrency that runs on the Solana blockchain—also named Solana (SOLUSD) and using the ticker symbol SOL—soared almost 12,000% in 2021 and at one point had a market capitalization of over $66 billion, making it the fifth-largest cryptocurrency by this measure at the time.

    More Info

    Who are Profitable Traders?

    A definition that sums up everything would state that a profitable trader is the one that sees the trading account consistently growing. Moreover, to include the time pressure, a profitable trader is one that trades for a living.

    More Info

    Method⚡


    In this dashboard, i went deep through Solana profitable traders on swaps and NFTs in past 90 days and analyzed how they performed in this timeframe. At last, i tracked the smart money which is exchanging between these traders and DEXs/CEXs to see where is this money going and where is it coming from?

    I extracted the data from ==Solana.core== database provided by Flipsidecrypto and used fact_swaps table for swap profitable traders and fact_nft_sales for profitable traders on NFT market. I analyzed them from different angles and use parameters to make them better for user experience. You can choose your desirable timeframe from the N_Days field at the beginning of the dashboard. Also you can change the over time charts to Weekly/Monthly if u want from Date field. I also put 2 charts for your wallet profit on swaps and NFTs and if you enter your wallet address in its specific field Wallet_Address at the beginning of dash, you can see your wallet’s gain in your desirable timeframe.

    You should log in to Flipside to be able to change the parameter fields.

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    1. Profitable Traders on Swaps

    Findingsđź‘€

    • Over 38% of profitable traders gained between 1000$ - 10000$ in past 90 days followed by more than 100000$ in the second place. These numbers are so huge and it seems whales are doing pretty well on Solana ecosystem.(Whales: Wallets with high balances)
    • ==“BmArwWweKjMmQ9nLGvPUHWA8rkDBHB3ADuxnvh5NTftK”== wallet address has gained almost 30% of profit share between profitable traders which means he was the best performer on Solana ecosystem in past 90 days. I entered this wallet’s address in bottom query to see how much this wallet gained since 3 months ago. As we see this wallet performed very well and gained a total of 45M profit in USD. Also you can enter your wallet address and the timeframe you want at the beginning of the dashboard to see how you performed recently on Solana network and how much did u gain.
    • Approximately 70% of Solana traders were losers in the chosen timeframe and only 30% of them could’ve earn some money from the market.
    • In over time chart, i analyzed these profitable traders activity around the ecosystem in past 3 months, Looks like there was an increase in their activity after the beginning of new year and most of this activity happened on Jupiter Swap v4.
    • In overall, over 61% of recent profitable traders activity belongs to Jupiter Swap v4 and Raydium is in the second place. Also the most popular actions between these people were closeAccount and createAccount.

    2. Profitable Traders on NFTs

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    > ## You can Enter your wallet address in the Wallet_Address field at the beginning of the dashboard to see your profit in the timeframe that you also choose from above.

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    Findingsđź‘€

    • In this section, i showed profitable traders for NFT sales on Solana. We can see majority of them gained between 100$ - 1000$ followed by people which gained less than 50 bucks. It seems these are more regular people rather than whales that are trading on Solana NFTs, Also when we see the top 10 profitable chart, most of them gained pretty much the same profit and the stats are pretty close to each other. The highest profit in past 3 months belongs to ==“HJsgX8WaKGaLbJ243vN6edt87Qzd5p2Z7ZskeFvjt9oD”== wallet address with over 607K gained profit in USD and accounting 12.2% of top 10 share which is the highest share among them.
    • Unlike previous section which was for swaps, on NFT sales, the number of losers and gainers in past 90 days are pretty close to each other and also we have a few percent of neutral traders who didnt lose or gain anything. In total, gainers are a bit more than losers on NFT sales and it seems people did pretty well recently on NFT market and flipping stuff and they crossed losers in this term.
    • Over time charts are showing us that these profitable traders most popular activity was Transfer and this action accounted almost 37% of popular actions share. Also we can see that most of the activity from these traders happened on Magic Eden v2 and November 9th was their highest activity so far since 90 days ago.
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    > ## You can Enter your wallet address in the Wallet_Address field at the beginning of the dashboard to see your profit in the timeframe that you also choose from above.

    3. Tracking Smart Money

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    Findingsđź‘€

    • In this section, i tracked smart money on Solana ecosystem to find out where is this money going and where is it coming from? It seems profitable traders are sending the most volume to Binance while the most transfers went to Orca, It means Binance with fewer received transfers than Orca, received more volume than it.
    • In the other hand, users received the most transfers and volume from Binance itself with 107 transfers and over 210K USD volume.
    • The most volume that came from DEXs/CEXs to traders has been sent around November 19th.
    • The highest amount of sent by traders happened on Jan 14th and they sent over 55K to Binance CEX.

    Conclusionđź’ˇ


    • From what we saw in the analysis, we can conclude that most of the profitable traders on swaps are whales or wallets with high balances but most of the profitable traders on NFTs are regular people.
    • 70% of swap profitable traders are losers and lost their money in past 90 days while gainers are more than losers in NFT profitable traders share.
    • Jupiter Swap v4 was the most popular swap program for top 10 profitable traders on Solana in past 90 days. They recorded over 60% of their transactions in that program.
    • Transfer and Magic Eden v2 were the most popular action and marketplace among top 10 profitable traders on NFTs, Transfers accounted almost 37% of their transactions share and Magic Eden v2 accounted over 96% transactions of Top NFT traders on Solana.
    • Most amount of Smart money on Solana exchanged between Solana profitable traders and Binance CEX in past 90 days. Traders sent 185K in USD to Binance and received 210K from it. The second one is Orca, Traders sent the highest number of transfers to Orca with a total volume of 153K USD.
    • The sending activity by profitable traders has been distributed in past 90 days but most of the receiving activity from Outside especially Binance happened around November 19th 2022.
    • NFT Traders recorded the most activity on Okay Bears NFT collection and gained the most profit from it. Moreover, they gained over 1.2M dollars from this project and made almost 1.4K transactions on it.

    Author: Sbhn_NP

    Discord : Sbhn_NP#8717

    Twitter : Sbhn_np

    Instagram : Sbhn_NP

    Special Thanks to CryptoIcicle and m.zamani for some inspiration.

    Thanks for your time!

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    Findingsđź‘€

    • In this section i showed the most popular NFT projects in terms of USD profit, Average days Held and trades.
    • Okay Bears was the nft project that recorded the highest profit and trades for profitable traders in past 3 months.
    • These traders Held Famous Fox Federation NFTs the most with an average of over 10 days.