Try Quests to earn cryptoSmart Money NFT Traders
Q81. Which wallets have made the most SOL off NFT mints and NFT trades since the start of the new year? What types of actions have led to being a profitable NFT trader on SOL? Is there a pattern behind their NFT trading strategy and can you define some of these traders as "smart money"? Do you think you need to be a "whale" to do well trading SOL NFTs, or can anyone have success in this market?
Top NFT minters on Solana
The below bar chart shows the minted amount in Sol and the number of minted NFTs for the top ten NFT minters since the start of 2022. Wallet (2Aj...BLR) with minted 5K NFTs with the value of 371K $SOL have made the most $SOL of NFT mints. The minted value for this wallet was approximately four times greater than the other wallets(47% of all). Another point is that the wallet (swo...Sq8) minted 13.8K NFTs that minted more with the lower amount of $SOL compared to the wallet (2Aj...BLR).
Top NFT traders on Solana
Similar to previous charts, the below bar chart shows the value and the number of nft trades for the top NFT traders on Solana since the beginning of 2022. For NTF traders, the distribution amount in $SOL was more steady, Unlike the minters. Wallet (HGE...AhU) trades 2K NFTs with the value of 48K $SOL reached the first rank between traders. The top minter minted NFTs with the value of 371K $SOL, but the top NFT trader traded NFTs with the amount of 48K $SOL which was nearly eight times smaller than the top minter.
What actions have led to being a profitable NFT trader?
Several actions that could lead to making a profit from trading NFTs are brought below:
- take some time and research the potential of future NFT projects
- The more time you spend finding out more about the project and the team behind it, the more chances you can find a profitable NFT project.
- A high or increasing trading volume for a specific NFT collection will indicate an increasing demand for that collection.
- check the trade history for the intended NFT to ensure the volume wasn’t artificially created. Some NFT owners use multiple wallets to trade their NFTs
- It is critical to consider the past details of the developers involved in the project. No one wants to invest in an NFT that mysterious or questionable developers have set up.
- The number of unique holders is another way to measure an NFT’s value and potential to bring future earnings.
- Rarer items are more valuable than others. They are usually more expensive than any other item in the collection.
- If an NFT collection becomes popular, the rare NFTs will have a higher chance of selling fast and at a higher price.
- Not all cheap NFTs guarantee a positive return. You should always pick an NFT project based on your interests. To ensure you’ll get the best price for an NFT collectible.
- Determine if a particular NFT market is still hot by looking at the current Google trend.