Key Takeaways
During the decline in mid-June, the order of the giant whales’ bargain hunting was: Bored Ape Yacht Club > Yuga Labs’ other NFTs > other blue-chip and emerging projects, and the type and price of bargain hunting were related to the size of the funds.
Among the super giant whales with more than US$500,000 in bottom-hunting funds, some focus on buying a single NFT, and some have established a diversified combination of bottom-hunting; more whales choose to use a fund of 100,000 to 250,000 US dollars to buy bottoms. NFT costs also vary.
Among the super giant whales with more than US$500,000 in bottom-hunting funds, some focus on buying a single NFT, and some have established a diversified combination of bottom-hunting; more whales choose to use a fund of 100,000 to 250,000 US dollars to buy bottoms. NFT costs also vary.
From June 7th to June 18th, the encryption market and NFT have plummeted, and this week, the NFT market is gradually rebounding. So, in the market lows, which NFTs did the giant whales buy, and what strategies did they adopt? Which giant whales participated in this low-point buying, and what is the bottom-hunting combination and average bottom-buying price of the giant whales?
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When the market is low, trading volume rises
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BTC market value, data source: CMC
OpenSea trading volume trend (6.7—6.18), data source: NFTGo.io
Which NFTs have the giant whales bought?
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Top 10 NFTs Purchased by Giant Whales
After observing the wallets of thousands of giant whales, we first focus on the top ten NFTs purchased by giant whales. It is worth noting that Otherdeed ranked first, with a total of 173 giant whales, with an average purchase price of 6.22ETH, which is $9410 after equivalent to US dollars; the tenth place is Bored Ape Yacht Club, with a total of giant whales. 25, the average purchase price is 135ETH, which is $179849 after being converted into US dollars.
The top ten NFTs purchased by giant whales (June 7-June 18), data source: NFTGo.io
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Giant whales buy the top ten NFTs with the largest amount of funds
Calculated by the number of purchases * current price (USD), the top ten NFTs purchased by giant whales are again obtained. This ranking seems to be more in line with the consensus of the NFT market. From June 7th to June 18th, when BTC was almost cut in half, giant whales alone bought Bored Ape Yacht Club worth $4.5 million, CryptoPunks worth $1.88 million, and Otherdeed worth $1.72 million.
The top ten NFTs purchased by giant whales (June 7-June 18), data source: NFTGo.io
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Which giant whales carried out bargain hunting?
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Purchased super giant whales worth more than $500,000, data source: NFTGo.io
As shown in the picture above, there are 5 super whales who have bought NFTs worth more than 500,000 US dollars. Among them, the top three NFT types are relatively single. For example, the number one is btok1024.eth, which only bought one Bored Ape Yacht Club and spent 1024ETH, which is an extreme special case. The second place franklinisbored.eth bought 7 Bored Ape Yacht Club, and the third place n0b0dy.eth bought 17 Otherdeed.
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Among the giant whales with a fund size of more than US$50,000, except for the five super giant whales at the head, the largest number of whales chose to buy bottoms with a fund size of US$100,000 to US$250,000, with a total of 16 whales. The top five NFTs they chose were Otherdeed, Bored Ape Yacht Club, CryptoPunks, Art Blocks, and Clone X according to the amount of buying funds. The average buying prices were $152373.8, $82259.15, $35753.61, $24962.94, and $15214.22.
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Giant whales (100K-250K bottom-buying funds) average bottom-buying price, data source: NFTGo.io
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What strategy does the giant whale adopt?
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Otherdeed Whale Purchase Quantity Ranking (June 7-June 18), data source: NFTGo.io
Starting from June 7th, as the floor price of Otherdeed gradually decreased, the giant whale began to buy gradually. From June 7th to June 8th, it first bought 6 Otherdeeds at a price close to the floor price. At 2.596ETH.
On June 9th, the floor price of Otherdeed fell below 2.5ETH, and he bought 10 Otherdeed at an average price of 2.368ETH again, reducing the short-term holding cost to 2.45ETH.
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Otherdeed price chart (6.7-6.18), data source: NFTGo.io
Overall, his strategy is to gradually increase his position: the bigger the drop, the more he buys, and he divides the purchase price into three ranges: 2.5-2.7ETH, 2.3-2.5ETH, 1.7-2ETH, and the purchase quantity: 6, 10, 39, the overall cost is controlled around 2.05ETH.
It is worth noting that when the price of Otherdeed began to rise from June 13th to June 15th, he did not win because of this, but chose to continue buying, indicating that the giant whale has its own valuation judgment on the NFT and believes that The price is still in its own "buying range", so you can continue to buy even after the lowest point of the price has passed.
One of the more interesting points is that among the 55 bottom-buying times, he bought 34 times through offer bids and 21 times through direct purchases. This is his "little trick" for bottom-hunting, and it also shows that people accept " The probability of "offer bid" will increase.
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Otherdeed price and trading volume, data source: NFTGo.io
Let's take a look at the giant whale with the largest number of bottom-buying BAYCs from June 7th to June 18th, and how he "buys the bottom".
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BAYC price chart price (6.7-6.18), data source: NFTGo.io
The giant whale uses sub-intervals to buy bottoms of BAYC at the floor price, and buys according to the price drop. Every time the price drops by more than 10%, it buys one by one.
Through the above analysis, we can probably get some logic for whales to buy bottom.
1. For a single NFT, buy in batches (3 batches) according to the range, and buy when you enter your own valuation range.
2. Buy according to the decline rather than time, the greater the decline, the more you buy.
3. Try to buy the bottom by way of offer bidding.
4. Buy bottoms for big blue chips classified by rarity, and buy bottoms for new blue chips with diversified combinations.
5. You can try multiple platforms such as X2Y2, LooksRare, not limited to OpenSea.NFTGo.ioNote: This article is for research purposes only. Views and opinions are those of the author and do not necessarily reflect or represent
