The Whales of NEAR

    What is the Question?🚨


    Where in the ocean of NEAR do the whales hang out? Examine the top 20 addresses by amount of NEAR held - excluding any custodial or exchange addresses that you can. Can you identify any “power players” or wallets of interest? What behaviors do these whales exhibit?

    Analyzed Topics:

    1. NEAR Holders and Whales Overview
    2. Top 20 Whales Activity
    3. Top 20 Whales Transfer Activity
    4. Top 20 Whales Total Transactions and Paid Fees
    5. Top Contracts Usage by Whales

    Introduction🚩


    Who Are Crypto Whales?

    A cryptocurrency whale, more commonly called a "crypto whale" or just a "whale," is a cryptocurrency community term that refers to individuals or entities that hold large amounts of cryptocurrency. Whales own enough cryptocurrency to influence currency markets.

    More Info

    What is NEAR Protocol?

    NEAR protocol is an advanced Level 1 blockchain capable of running smart contracts, and is more scalable for the future of decentralized application development. NEAR Foundation is responsible for the NEAR Protocol blockchain and the ecosystem surrounding it.

    More Info

    Method⚡


    In this dashboard, i analyzed top 20 wallets on NEAR with the highest $NEAR balance who we call Whales and after that i explored their activity on NEAR protocol over time to see what are they doing and what are the differences between them and all $NEAR holders.

    I considered wallets with over 100K $NEAR balance as whales and calculate their wallet balance with fact_transfers table from ==near.core== database provided by Flipsidecrpypto. Actually, i am going to analyze top 20 whales on NEAR and their activity. I calculate their balances with calculating the difference between their received and sent tokens.

    I analyzed the whales in overall and on a monthly basis over time and didn’t used any specific timeframe.

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    Findings👀

    • Out of 3.13M Current $NEAR holders, 454 of them have more than 100,000 $NEAR tokens in their wallets and we call these type of wallets “Whales“.
    • Although Whales are accounting almost 0.01% of all $NEAR Holders but they are currently holding 423M out of 504M $NEAR that all holders are holding right now and its more than 80% of all.
    • Among top 20 $NEAR Holders, i tried to filter some exchange addresses like Binance Cold wallet. ==“a778de7fc42034af1c85cac901fd40392dfc1cc69c3a688ea149112f57b0063e”== wallet address is the biggest Whale on NEAR Chain with the highest $NEAR Balance nearly about 21.4M $NEAR Tokens .
    • When we look at $NEAR holders share and their distribution by holding amount, we can see that over 92% of $NEAR holders are holding less than 1 $NEAR, almost 2.9M of them out of all 3.13M holders, and as i said earlier, only 454 of them have over 100K $NEAR tokens and they are accounting a very small percentage.

    2. Top 20 Whales Activity

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    Findings👀

    • According to above charts, Transfer was the most popular action between top 20 whales and they mostly did transfers over time, their activity peaked on Oct 2021 when they recorded more than 7K transfers in total, 4K transfers more than its previous month. After that month the number of transfers dropped badly but in overall, their transfers chart was bullish.
    • They recorded a total of over 72K transfers over time since 2020.

    3. Top 20 Whales Transfer Activity

    > Because Transfer was Whales most popular activity on NEAR protocol, here we analyze their behavior on NEAR Transfer Environment

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    Findings👀

    • Above monthly charts are showing top 20 whales transfers by their top 5 destinations.
    • We can see that Binance was the most popular destination which whales sent their most $NEAR to in terms of volume. But in transfer count term, Binance is in the lead again followed by Houbi CEX with a pretty close difference to Binance.
    • In overall these whales sent over 2.5K transfers to Binance CEX and almost 250M $NEAR over time.
    • Their transfer activity got faded after mid 2022 when they moved huge amounts of $NEAR in its past few months since start of 2022.
    • As i said, CEXs were the most popular destinations for Whales such as Binance and Houbi with over 8K transfers and over 250M sent volume to CEXs over time.

    4. Top 20 Whales Total Transactions and Paid Fees

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    Findings👀

    • ==“d73888a2619c7761735f23c798536145dfa87f9306b5f21275eb4b1a7ba971b9”== wallet address between top 20 whales on NEAR has been made the most number of transactions and paid the most fees over time with over 60K number of transctions and paid over 4.6 total fees in $NEAR.

    5. Top Contracts Usage by Whales

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    Findings👀

    • cookiemonster.near was the most popular contract among top 20 whales with the most number of transactions and most of this activity belongs to October 2021 with almost 6K transactions which 5.8K of them belongs to cookiemonster.near contract.

    Conclusion💡


    • Top 20 Wallets with the highest $NEAR balance on NEAR chain are holding more than 80% of all $NEAR tokens among all holders.
    • Out of 3.13M total $NEAR holders, only 454 of them have more than 100K $NEAR tokens in their wallets and accounting 0.01% of all holders.
    • Over 92% of all $NEAR holders are holding less than 1 $NEAR.
    • Transfer was by far the most popular activity among top 20 whales and their activity peak was on October 2021.
    • These whales used CEXs more than other sectors like DEXs or Dapps and out of all CEXs, Binance and Houbi were the most popular ones among these users.

    Author: Sbhn_NP

    Discord : Sbhn_NP#8717

    Twitter : Sbhn_np

    Instagram : Sbhn_NP

    Special Thanks to m.zamani for some inspiration.

    Thanks for your time!

    1. NEAR Holders and Whales Overview