Hacks, Scandals and Scams - 3. Whales On Alert

    Introduction

    In this analysis, You will read about active whales on Ethereum. We want to know what whales did in May and June. Some metrics You will read:

    • Daily Transactions
    • Swaps
    • Fees
    • NFTs

    What is Ethereum?

    Ethereum is a decentralized, open-source blockchain with smart contract functionality. Ether is the native cryptocurrency of the platform. Among cryptocurrencies, Ether is second only to Bitcoin in market capitalization. Ethereum was conceived in 2013 by programmer Vitalik Buterin.

    Analyzed by Hess - Reading Time almost 10 Min.

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    Method

    • The first important method is defining whales. Who is Whale?
      • Those wallets with at least 1M dollars ETH in their wallet are ETH whales.

    Who is active?

    • Those wallets that have had at least one transaction in the last 100 days, I called them active whale wallets.
    • I only counted those wallets that are end user wallets. It means I eliminatete project, Dex, Cex and .. from my findings. Some of them was hard to identify, So maybe there are some project wallets in my list.
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    Type of Whales

    • The majority of holders are regular users. By Normal Users, I mean those wallets without labels.
    • The second most group of holders are CEXs, with 13% of total Whales.
    • The third category is Dapps, with 5.4% of the total whales.
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    ETH Whales Overview

    • I found 9.28K ETH whales, that nearly 1.7K of them are active. These are only ETH whales.
    • There are 37K Whales on Ethereum blockchain.

    Top Whales

    • A wallet holds 20B dollars of ETH. This wallet holds 69% of the total ETH of top whales.
    • The second whale holds 2.9B dollars of ETH.
    • There is one more Billion dollar holder, and the rest are ETH millioner.

    Total Daily Transaction by Whales (May-June)

    • The average number of transactions by active whales is about 12-13K in May and June.
    • They had above 100M dollars each day.
    • The highest number of transactions happened on June 13th, with 19.2K transactions
    • The highest volume occurred on May 12th with 2B dollars.
    • The lowest volume was 115M dollars, and the lowest number of transactions was 9K.

    Top tokens based on Total number of whale transactions

    • Stablecoins are the most popular tokens for whales. USDT was involved in 57% of transactions and USDC 23%.
    • After stablecoins, we can name MATIC and WETH.

    Top tokens based on Total number of whale Volume

    • Based on total volumes, Again, Stablecoins are the most popular tokens for whales.
    • After stablecoins, We can name WETH and WBTC.

    NFTs Activities by Whales

    • The daily chart shows that whales had some mints almost every day.
    • The highest volume that whales spent on NFTs were on June 14th and June 15th, with around 54M dollars.
    • Uniswap NFTS is the most popular NFT type for whales. However, this is not actual nfts. Probably they made liquidities on Uniswap and got Liquidity NFT.
    • Premia is the second most popular NFT collection for whales. 21% of transactions were on Permia.
    • Also, ETH whales were interested on Nonus NFTs.
    • ETH whales have sold 2M dollars NFTs in 38 transactions on May 2nd.
    • 56% of sales was The otherside collections.
    • Also, 25% of sales was The famous Ape.

    ETH Swaps by Whales

    • In comparison to other activities, It seems Whales are not swapping ETH too much.
    • The highest volume of swaps from ETH occurred on June 13th, worth 47M dollars.
    • The swaps volume popular range is 100-200K us dollars.
    • The number of swaps were below 100.

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    • Whales were buying ETH everyday.
    • They add more ETH in their wallets.
    • THe highest swaps volume to ETH was 9M dollars on May 12th. A day after LUNA and UST crashed.
    • Their daily swaps volume is 500K-1M.

    Fees by Whales

    • Whales paid nearly 3K ETH for fees in June and May

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    • Whales paid 84% of total fees for transfer activities.
    • 4% of total fees was for Approval.
    • Deposits and Swaps are following top methods.

    Conclusion

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    • It seems whales were too active in May and June.
    • Their daily volumes were above 100M dollars.
    • The most activity was the transfer.
    • Whales were active on NFT world too.

    THE END

    THANK YOU FOR READING!

    ANALYZED BY HESS

    Twitter_id: hessaminanloo

    Discord_id: hess#0890

    ENS: he3am.eth