NFT Whales have been our go to resource for finding the latest NFT investing strategies. Investing is all about seeing what other people don’t, spotting opportunities and being early to trends. Whales have been making the headlines in the past year. From buying Punk 4156 at the crazy price of 2500 ETH -roughly $10M- to collecting Apes and Generative art. Whales are breaking records in market share. From NFTGo’s latest stats, 860 Whales are occupying over 27% off the entire NFT market cap.
We have updated our Whale Tracking feature with new options and more robust data analysis tools.
In this article, you will learn how to leverage the data from these NFT whales to maximize your profits and make strategic investments. NFTGo’s new Whale Tracking features unlock the secrets behind the Whales’ enormous profits.
Whales are putting millions of dollars at risk to collect NFTs. Therefore, they are the most serious player in the market. Understanding the reasons behind their strategic decisions and analyzing their actions can help you look beyond what everyone is seeing. This broadens your perspective about the market. Let’s see how with NFTGo’s Whale Tracking, you can get great insights from data.
Breaking down the changes in Whale Tracking
Whale Tracking has advanced to four separate features. This allows you to organize and chunk down the data and find the information you need quickly and efficiently. We analyze the Whale activities in three sections:
- Activity
- Trades
- Whales
Each of these 3 sections serve information about an aspect of Whale activities. Every section includes its unique analysis tools that let you dive deeper into the Whale data in that section.
Trend recognition
Before diving into the more specific data, it’s always worth it to broaden our perspective and look into the general trends. The purpose of the Activity section is to visualize the overall Whale activities data. This is important for analyzing trends in Whale activities. Each data point is organized with more details about the transaction in the table below the graph.
The line graph shows the changes in the frequency of Whale activity through time in relation to the number of active Whales. You can see that it bounces up and down during the week.
The line graph shows the changes in the frequency of Whale activity through time in relation to the number of active Whales. You can see that it bounces up and down during the week.
The bar chart is composed of sale, buy, mint and burn activities. This is a comprehensive overview of all the Whale activities encapsulated in one graph. It is aimed to allow you to compare Whale activities easily. The graph illustrates relatively similar portions of buy and sale activity. In some cases, burning is quite small and in other times, burn activity is insignificant.
This chart indicates that there’s an emerging pattern in minting activity. By looking at the table below we can see where this trend is coming from.
NFTGo’s data engine allows for filtering and sorting data. Here, I used it to select the minting data from the past 24 hours. We can see that the increase in minting activity in the bar chart occurred as a side effect of 19 Whales minting more than 200 NFTs in just 24 hours. You now know where this trend is coming from. You can also view the most popular NFT collection based on the minting activity concentration. Here, it seems like Whales are favoring Fox Game Official.
When we look at the data from the past 30 days, we can see a more clear pattern in Whale activity trends. Other than the outlier on december 24th which caused about +13000% in burn activities, most of the buy and sell are consistent and minting activity occupies most of what Whales are doing.
What do Whales trade?
-Buy and sell
Now you can see much more than Buying and selling activities. NFTGo has the function to see Whales’ most bought collections. Here, you can see that most whales bought from the boonji project during the last hour.
By choosing smaller time windows like 1 hour, you can immediately notice the latest projects that Whales are investing in.
You can see that among all the projects, most of the volume is occupied by Capsule House. The Whale volume is the sum of all the sale volume generated by all Whales in the project.
By increasing the duration we can see the top projects in the last month. Along with the Whale rankings, you can also see the sum NFTs Whales bought in the collection. From the stats, we can see how only 96 Whales bought more than a thousand Art Blocks NFTs.
You can also switch to Sell mode and look into the data from top Whale sales. During the last 6 hours, most Whales have sold their Loot NFTs.
- Price changes
From now on, we’ve also included the Price Change graphs. This is a multi-dimensional analysis provided by NFTGo that gives you the most subtle details about NFT Whale purchases and sales. NFTs are volatile assets and the price for NFTs can rapidly change.
For every whale NFT purchase, we measure the price changes in the NFT and analyze its change in value.
We take the difference between the last sale price and the price a Whale bought the same NFT. You can order these changes in an ascending or descending way and see how profitable -or perhaps how futile- the sale was for the seller.
You can see that during the last 30 days, Whales were willing to buy NFTs at orders of magnitude higher than their last sale price. Some of these NFTs were sold for a thousand percent more than their most recent price. This is a +1000% ROI for the seller!
During the last 30 days most Whales have made huge profits by selling their blue-chip NFTs. The prices are drastically flying to the moon.
You can toggle between buy and sell mode and see the price changes in Whale sales. Whales are active traders in the market and depending on the project’s value, they make decisions about selling their NFT. This is a great way to view the potential projects that Whales are opting out of. For now we’ve only seen unicorns and rainbows in ROIs, but this isn’t always the case.
Many of these Whales are opting out of some of the projects like Loot — as we saw earlier in the previous section-. This can be a signal for you if you’re a holder of one of these projects. You can always go to the price changes table on NFTGo and view the latest changes in Whale returns.
- Top NFTs
The top buys and sell section includes the top NFTs Whales bought and sold. The data demonstrates that the top buying activity was generated by isimppleasr.eth. The top buys are sorted from the most expensive NFTs.
In the past month, many Whales have bought NFTs from collections like Cryptopunks for enormous amounts of money. This shows the ongoing trend in Whales’ interest in buying blue-chips at high valuations.
The top sale in the week was sold for 999 WETH. This Punk sold for 1.5K ETH in December last year.
Rankings are the next part of our full analysis on Whale trading. We rank Whales based on their sell or buy volume. The buy volume corresponds to the number of NFTs whales have bought. This is when the offer price from the Whale for the NFT is accepted by the seller. This typically appears when Whales see value in a given NFT and they’re willing to make an offer for it. Whales with higher buy volume are usually looking into the NFTs to become more valuable as time goes on. The buy volume data is coupled with the number of NFTs the whale has bought as well as the collection. This is answering two vital questions about buy volume:
- How expensive are the NFTs?
- How diversified is their portfolio
By taking a glance at this chart, we can see that from the last 30 days, the top Whale has generated more than $8M in buy volume. They bought 248 NFTs across 10 collections. This is unlike the second place that has bought only one NFT worth $5 million.
Ranking the top seller Whales is another important aspect of trading activity. The data collection methodology for the two rankings are the same. Both of these tables drive insights about Whale trading activities.
The data from the last 30 days shows us that two of the Whales sold more than $10 million worth of NFTs.
Whales are hunting NFTs
The number of Whales keeps growing everyday. Many contemporary art collectors have yet to be convinced about NFTs. The number of skeptics is going down and more people are starting to notice the value NFTs create.
NFTGo is with you in every step of your NFT investing journey. With the continued mass adoption seen by NFTs, we’re here to provide data analytics tools that set you up for success. Whales are a key player in the market. NFTGo’s Whale Tracking features continue to provide you with the best information about NFT Whales.