The Solana Smart Money

    Introduction

    • In this Analysis, You will Read about Top Token traders and top NFT traders on the Solana chain.

    • Based on token swaps and NFTs, I tracked the most profitable traders on Solana. Additionally, I provided parameters to see the top traders within a specific timeframe.

      How has "smart money" been investing in Solana lately? Over the past week?

    • Do they hold positions for a long time, or are they active traders?

      What have been the most profitable projects for Solana traders?

    • Are there any indicators of their next trade or strategy? Also, I compared my Analysis with Hellomoon's smart money inflows and outflows.

    Analyzed by Hess - Reading Time Almost 10 Min.

    What is Solana?

    • Solana is a scalable and decentralized blockchain platform. In comparison to rival blockchains like Ethereum, Solana is able to process many more transactions per second. In Solana, proof-of-stake (PoS) is combined with proof-of-history (PoH) to verify transactions with hashed timestamps.
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    Top money loss user

    This part is meant to demonstrate that the user is not always the winner. Conversely, there are losers as well as winners. Based on swap activities, I looked at the top money losers.

    • There was a user who lost 6.3K US dollars in a month with the top loss. Total losses ranged between 600 and 4K US dollars among these top unprofitable users.
    • The top 50 Unprofitable users had an average loss percentage of -45%. The result is that there are users who lost half their money.
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    Top Tokens ( Based on ALL SWAPPERS )

    • Profit:

      • In January, the $BONK token was the most profitable token among all swappers. The average profit for users was 57%, earning 1.1M US dollars. Despite being a huge difference from BONK, the SOL token was the second most profitable token after BONK. There were 341K US dollars earned by swappers with an average profit of 19%.

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    • Non-Profit:

      • Bonk token also ranked high among non-profitable tokens. An average of -35% results in users losing 151K US dollars. On the list, I see some popular tokens. Dust and Orca are examples. There was an average loss of -20%.
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    TOP PROFITABLE NFT TRADERS

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    Smart Money

    Smart money moves refer to key trading decisions made by informed, professional Traders. For this part, My Smart money definition is based on those users who are top 50 wallets based on the number of trades.

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    Compare Hello Moon Smart Money Vs. My Analysis

    Let's compare the Smart Money collection with Hello Moon in the last part. There should be a difference in the outcome. Smart money could have different criteria on Hello Moon.

    The Data is based on the Last 7 Days.

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    Parameters Guide: THE Date Format is YYYY-MM-DD. After changing date, Please click on Apply All Parametrs. You need To Log in to Flispdide.

    IMPORTANT NOTE: There are millions of transactions on SOLANA. When you change the date, it takes a few minutes to update.

    What are NFTs?

    • NFT stands for ‘non-fungible token’. Non-fungible means that something is unique and can’t be replaced. By contrast, physical money and cryptocurrencies are fungible, which means they can be traded or exchanged for one another. Every NFT contains a digital signature which makes each one unique. NFTs are digital assets and could be photos, videos, audio files, or another digital format. NFT examples include artwork, comic books, sports collectibles, trading cards, games, and more.

    Method

    • Top Token Traders:
      • I needed to extract each swap volume in USD to find top swappers. By using solana.core.ez_token_prices_hourly, I extracted the prices for Solana tokens. I joined my findings with solana.core.fact_swaps table. I have now created a custom swap table with USD amounts. My next step was determining which users gained more profits from swapping by examining the total number of tokens they bought and sold.

      • NOTE: Only those users who sold exact amounts bought are calculated for unprofitable users.


    • Top NFT Traders:
      • Top NFT traders were found using the same method as Top swappers. Instead of converting Solana amount to USD volume, I extracted top NFT traders based on Sol amount. In order to determine NFT activities, I used the table solana.core.fact_nft_sales. I then merged my findings with the DIM label table for NFT collections.

    Full Analysis

    Top Profitable Swappers

    Let's start with the most profitable swappers. For this part, I did not calculate all swap activities. I looked for users who earned the most profit from One token. However, the result will not change too much. These users will still be at the top of the list. According to the current parameter, all activities are based on the previous month.

    • The top swapper earned 262K USD in January 2023 based on his total profit in US dollars. Second and third-place swappers earned more than 100K users. Other top swappers earned less than 100K after these three users. User earnings ranged from 7K to 10K at the end of the top 50 swappers.
    • I calculated the average profit in percentage and based on the top 50 profitable swappers, The average profit percentage was 148%.

    How do the Top 50 swappers' activities look?


    • According to the top 50 swappers' activities, only ten had more than ten swaps. The other swappers earned that profit in just one or two swaps at most. There have been 83 buys, and 139 sells since January 2023 by the top swappers with 250K profits. Therefore, 20% of top swappers had more activities than the other 80%.

    Top Profitable Tokens

    • Again, Based on the top 50 swappers, $BONK was the top profitable token. Swappers bought 1.18M US dollars worth of Bonk and Sold 1.8M US dollars. The top 50 swappers only earned around 600K US dollars from $BONK. What is Bonk? BONK is the first dog-themed coin on Solana "for the people, by the people”.
    • StSol was the second most profitable token. In terms of volume, users swapped more than BONK but earned less. The amount is approximately 300,000 dollars.

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    How do the Top 50 Unprofitable swappers' activities look?


    • It is also common for users with high losses to have only one swap, similar to the top 50 profitable swappers. Most likely, the price of the swapped token has decreased greatly and regular or pro users prefer not to lose any more money.

    Top Nonprofit Tokens

    • Among top swappers, $BONK token was among the most profitable and nonprofitable tokens. In the middle of January, the price of the BONK token decreased significantly. Accordingly, users lost 69K US dollars based on BONK tokens. The shares of other tokens were small.
    • You can see that meme-coins is the only token on the list of unprofitable tokens.

    Looser or Winner?

    The loss calculation is based on those users who swapped the amount they bought previously.

    In total, 44% of users had no gain or loss. The percentage of users who made profits was 35%, and the percentage of users who lost money was 20%.

    There were 28 unique wallets that earned between $10k and $100k. Since the beginning of the month, 264 wallets have made 1K-10K profits.

    Currently, Trading NFTS is the most popular activity on the Soalana chain. On Solana, there are too many hyped-up projects. THE CHARTS ARE BASED ON SOL AMOUNTS.

    • More than 1000 SOL tokens worth 2.4K US dollars were made by the top NFT trader. The second and third top traders made 924 and 838 SOL, respectively.

    Profits made by other top profitable traders ranged between 161 and 488 SOL.

    • Overall, they made less money than swap traders.

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    How do the Top 50 NFT traders’ activities look?


    • As I mentioned before, NFT trading is one of the most popular activities on Solana. In contrast to top profitable swappers, NFT traders earned profits by a series of transactions. ( Based on TOP TRADERS )

      Among ALL PROFITABLE TRADERS (not 50), 34.8% had only one transaction. 33.4% of users had 2-10 transactions, which is the second largest group. A small percentage of profitable users had 75-100 transactions.

      A top trader with over 1000 SOL made 78 purchases and sales.

    TOP Profitable & Non-Profitable Collections

    Here are the top profitable and non-profitable collections based on ALL USERS.

    • There is a profitable and a non-profitable collection called Bonkz. 16.4K Sol was made by some users and 12.2K Sol was lost by others.
    • Immortals ranked second on the list. 16.6K Profits were made by traders, while 3.8K Sols were lost.
    • The third most popular collection was Tayio Pilots. In total, traders lost 11.7K Sol, while users made 7.1K Sol.

    Smart Money NFT traders


    • Based on total profits, the chart below shows the top 15 Smart Money NFT traders. A top trader invested 37K Sol and made 1305 Sol profits. Smart Money's second top trader invested 24K SOL and made 1.3K.
    • Based on invested money, two wallets invested more than 100K, but profits weren't too high.

    Top Profitable Collections Based on Smart Money


    :1st_place_medal: In terms of total profits, Dandies, and Claynosaurz rank first and second, respectively. A total of 25K Sol was invested in these collections, and each collection had a profit of 367 Sols.

    :2nd_place_medal: The second place goes to ABC. The total investment was 362K, and the users received 303.99 SOL.

    :3rd_place_medal: Immortals and Professional Coin Flippers. These two collections made 303 Sol profits each with much lower investment money than the others.

    MAGIC EDEN 2 is a popular place for Smart Money Traders. The average days of holding NFTs on that marketplace is 1.5 days, and the highest profits are made there. On that marketplace, SmartMoney Traders earned more than 5K Sol.

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    Almost All Profits and Loss collections are the same. The only difference is the sort order. For example, ABC is in first place on Hello Moon based on Smart Money, while ABC it’s in second place in my dashboard.

    Image Source: HELLO MOON WEBSITE

    Conclusion

    • The Top profitable Swappers made 263K US dollars in the last month. However, Pro traders use CEXs for trades. Those users who earned profits on Solana are based on DEXs. Token prices changed too much after the New Year. Most of these traders bought low and sold high.
    • The Most Profitable token was $BONK with nearly 600K profits.
    • The Top loser loss was around 6K. Like the Top profitable token, the Top non-profitable token was BONK too. Bonk's price has changed too much in the last month.
    • About 28 wallets earned between 10-100K in January.
    • Top NFT trader profits were over 1000 SOL.
    • The Top Profitable collection was BONKz.
    • The Top SMART money trader made 1305 SOL with 37K investment.
    • Dandies, Claynosaurz and ABC, were the top three collections based on Smart Money.

    THANK YOU FOR READING!

    ALL CODES AND CONTENTS WERE WRITTEN BY HESS.

    :bird: Twitter: 0xhess

    :t-rex: Discord: hess#0890

    :calendar: Analyze Date: 2023/FEB/3