The crypto market continues to waver as we transition toward the second half of the year amid a regulatory crackdown in the U.S. But as trading volume continues to dwindle across centralized exchanges, some big crypto whales are still trading.
We decided to take a look at what six major crypto whales’ wallets — a “whale” in investing or gambling denotes a player with a lot of capital in play — are doing: where they park funds and how their activity signals movement in the market, according to on-chain portfolio data from Nansen.
The wallets are worth a total of $493.6 million, with almost 98% of their wallets’ allocated on the Ethereum blockchain, the data showed. The wallets and their data were selected by Nansen to detail a series of active wallets; we will continue to explore other whale wallets over time to expand our sample set.
A majority of the wallets include “wrapped” crypto assets, which is a tokenized version of the original coin that holds the same value. For example, there’s bitcoin (BTC) and wrapped bitcoin (wBTC) and an investor would own the latter if they wanted to use bitcoin on the Ethereum network, which it doesn’t operate on. It can, though, through the wrapped version.
Here’s a look at six crypto whale’s wallets ranging from “smallest” to largest:
Crypto wallet 1 with $18.25 million net worth:
- Chain allocation:
- 98.31% on the Ethereum chain
- Biggest token allocations:
- 85.55% is staked Ethereum (stETH) at $25.8 million
- 6.44% is wrapped Bitcoin (wBTC) at $1.94 million
- About 5%, or $1.6 million, across ENS, UNI and MATIC
- Roughly $27,000 in stablecoin USDT
- Protocol allocation
- 94% held on Aave (lending protocol)
- About 6% held in wallet
- Portfolio performance down 6.75% on the week
Crypto wallet 2 with $21.88 million net worth:
- Chain allocation:
- 99.44% on the Ethereum chain
- Biggest token allocations:
- 71.39% is staked Ethereum (stETH) at $40.6 million
- 22% is in stablecoin DAI at $12.5 million
- About 5%, or $2.9 million, across CUNI, UNI, CRV, wETH, CVX, MKR
- Protocol allocation
- 64% held on Aave
- 25% on Compound
- 5.59% held in crypto wallet
- Portfolio performance down 5.5% on the week
Crypto wallet 3 with $27.83 million net worth:
- Chain allocation:
- 100% on the Ethereum chain
- Biggest token allocations:
- 99.99% is staked Ethereum (stETH) at $55.72 million
- Less than $4,000 is ether (ETH)
- Less than $100 in stablecoins DAI and USDT
- Protocol allocation
- 99.99% held on Aave
- Less than 0.01% in crypto wallet
- Portfolio performance down 6% on the week