• Contact Us
  • Affiliate Disclosure
  • Privacy Policy
  • Terms of Use
  • DMCA
Tuesday, September 26, 2023
WongaNews.com
  • Live Prices
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT News
  • Blockchain
  • Regulations
  • Trading
No Result
View All Result
  • Live Prices
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT News
  • Blockchain
  • Regulations
  • Trading
No Result
View All Result
WongaNews.com
No Result
View All Result

CryptoPunks Whales Stick to Larva Labs, Have Highest NFT Market Cap – Report

August 26, 2021
in Blockchain
Reading Time: 3 mins read
A A
CryptoPunks Whales Stick to Larva Labs, Have Highest NFT Market Cap – Report
ShareShareShareShareShare

Related articles

Japan’s JCBA Submits Initial Proposal for IEO Regulatory Reform to JVCEA

Japan’s JCBA Submits Initial Proposal for IEO Regulatory Reform to JVCEA

September 26, 2023
Amazon Invests $4 Billion in AI Startup Anthropic for Advanced Foundation Models

Amazon Invests $4 Billion in AI Startup Anthropic for Advanced Foundation Models

September 26, 2023

CryptoPunks, digital collectibles created by Larva Labs, have a high ‘whale’ concentration share, with 10 wallets owing 1,410 digital assets, but the collection’s robust market capitalization of USD 3.1bn makes it less prone to manipulation, according to a report released by data aggregator and analysis firm DappRadar.

As part of its research into non-fungible tokens (NFTs) and cryptocurrency whales, a term used to describe individuals or entities that hold significant amounts of crypto or crypto assets, DappRadar is employing a method based on on-chain indicators for the NFT space, the whale concentration index. The index measures how diluted or concentrated a given collection is, and it indicates the number of pieces that are owned by the top 10 wallets for a given collection.

They found that the studied CryptoPunk whales are heavily focused on Larva Labs collections, as they do not own any other crypto assets besides Art Blocks, at 427 NFTs, CryptoPunks, with 1,410 cryptoassets, and Meebits, which are also developed by Larva Labs, at 1,329 NFTs, according to the analysis.

CryptoPunk whales hold the most valuable portfolios on average, with USD 53.6m, followed by Bored Ape Yacht Club (BAYC) and Art Blocks whales with an average of some USD 11.5m.

Pudgy Penguins and BAYC are among the best-distributed collections in the NFT space. Similarly, Cool Cats whales also tend to display diversified NFT strategies.

And while CryptoPunks whales are the less diversified group, BAYC whales – in contrast to Larva Labs whales – appear to have a very diversified NFT investment strategy, said the report. Besides BAYC and Bored Apes Kennel Club, Bored Ape whales have “significant holdings” in Art Blocks and Meebits.

Also, 40% of BAYC whales have at least one CryptoPunk in their collection, DappRadar said, adding that: “Collections like the BAYC and Art Blocks whose average price increased significantly as of late, are being used as a way to obtain profits. Whilst Art Block whales prefer to re-invest in their preferred collection, BAYC whales are looking to discover the new NFT gem by diversifying their holdings.”

Art Blocks whales have “important holdings” in CryptoPunks and Meebits, collectively owning 211 and 414 pieces respectively, it added. Furthermore, “Pudgy Penguins appear to be liked by these whales as 202 Penguins are also owned by Art Block whales.”

Whales who own Axie Infinity collectibles are mostly focused on gaming NFTs, and only two of such whales own diversified NFT collectibles portfolios.

To DappRadar, BAYC looks like the healthiest collection in terms of market manipulation owing to a low whale concentration index and an impressive market capitalization of USD 1.1bn.

“In regards to the six collections analyzed, there is no concern about market manipulation,” said the report. “Those collections that may lean towards a more concentrated supply like the Larva Labs projects are already established as premier NFT collections hence the risk is significantly reduced.”

Newer collections like the Pudgy Penguins “may be at a higher manipulation risk,” although their concentration metrics show a well distributed project despite a recent launch, DappRadar concluded.

(Photo: Wikimedia Commons)

Credit: Source link

ShareTweetSendPinShare
Previous Post

CoinDCX Exchange Joins Ad Regulator Following Delhi High Court Notice

Next Post

Cuba Set to Recognize Cryptocurrencies

Related Posts

Japan’s JCBA Submits Initial Proposal for IEO Regulatory Reform to JVCEA

Japan’s JCBA Submits Initial Proposal for IEO Regulatory Reform to JVCEA

September 26, 2023

Key Takeaways JCBA (Japan Cryptocurrency Business Association) submits initial proposal for IEO (Initial Exchange Offering) regulatory reform to JVCEA (Japan...

Amazon Invests $4 Billion in AI Startup Anthropic for Advanced Foundation Models

Amazon Invests $4 Billion in AI Startup Anthropic for Advanced Foundation Models

September 26, 2023

Key Takeaways Amazon to invest up to $4 billion in Anthropic. Anthropic gains access to AWS Trainium and Inferentia chips....

1INCH Jumps 4% – Are DEX Aggregators the Future?

1INCH Jumps 4% – Are DEX Aggregators the Future?

September 26, 2023

Join Our Telegram channel to stay up to date on breaking news coverage 1inch (1INCH) price is trading is scaling...

ApeCoin Price Prediction: APE Moves 2% – Jungle Domination Ahead?

ApeCoin Price Prediction: APE Moves 2% – Jungle Domination Ahead?

September 26, 2023

ApeCoin (APE) price has rallied 2% over the last 24 hours to trade at $1.126. Its 24-hour trading volume is...

WSM Token Initial Listing on OKX – Biggest Crypto Launch of 2023

WSM Token Initial Listing on OKX – Biggest Crypto Launch of 2023

September 26, 2023

Join Our Telegram channel to stay up to date on breaking news coverage Following a successful presale, the biggest meme...

Load More
Next Post
Cuba Set to Recognize Cryptocurrencies

Cuba Set to Recognize Cryptocurrencies

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Proof of Play Secures $33 Million Funding for Web3 Gaming Initiatives

Proof of Play Secures $33 Million Funding for Web3 Gaming Initiatives

September 25, 2023
Snapchat Selfies Just Got a Makeover with ‘Dreams’ Feature

Snapchat Selfies Just Got a Makeover with ‘Dreams’ Feature

August 29, 2023
Decentraland Hosts the First Metaverse Architecture Biennale

Decentraland Hosts the First Metaverse Architecture Biennale

September 20, 2023

About Us

Wonga News is an online news portal that aims to provide the latest crypto news, blockchain, regulations, and much more stuff like that around the world. We promise to share only high quality content from the world's best crypto sources. Feel free to get in touch with us!

What’s New Here!

  • XRP Ledger Developer Xumm Reveals “Infrastructure Overhaul,” More Than An Upgrade?
  • A New Era in Crypto Privacy and a Rival to Monero, Dash, and ZCash
  • Pudgy Penguins strikes major IP and merchandising deal with Walmart

Newsletter

Loading
  • Contact Us
  • Affiliate Disclosure
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2022 WongaNews.com - All Rights Reserved!

No Result
View All Result
  • Live Prices
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT News
  • Blockchain
  • Regulations
  • Trading

© 2022 - WongaNews.com - All Rights Reserved!

  • bitcoinBitcoin(BTC)$26,171.00-0.65%
  • ethereumEthereum(ETH)$1,585.79-0.39%
  • USDEXUSDEX(USDEX)$1.07-0.47%
  • tetherTether(USDT)$1.00-0.01%
  • binancecoinBNB(BNB)$211.800.81%
  • rippleXRP(XRP)$0.50-0.09%
  • usd-coinUSDC(USDC)$1.00-0.01%
  • staked-etherLido Staked Ether(STETH)$1,584.65-0.47%
  • cardanoCardano(ADA)$0.244689-0.21%
  • dogecoinDogecoin(DOGE)$0.060295-1.25%
  • solanaSolana(SOL)$19.19-1.89%
  • tronTRON(TRX)$0.0845410.34%
  • ToncoinToncoin(TON)$2.15-1.99%
  • Wrapped stETHWrapped stETH(WSTETH)$1,865.160.38%
  • polkadotPolkadot(DOT)$4.01-1.73%
  • matic-networkPolygon(MATIC)$0.52-0.30%
  • litecoinLitecoin(LTC)$63.85-1.20%
  • shiba-inuShiba Inu(SHIB)$0.000007-0.70%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$26,149.00-0.67%
  • bitcoin-cashBitcoin Cash(BCH)$213.811.24%
  • chainlinkChainlink(LINK)$7.28-2.80%
  • daiDai(DAI)$1.00-0.12%
  • true-usdTrueUSD(TUSD)$1.000.00%
  • leo-tokenLEO Token(LEO)$3.67-2.98%
  • uniswapUniswap(UNI)$4.24-0.81%
  • avalanche-2Avalanche(AVAX)$8.940.33%
  • stellarStellar(XLM)$0.111877-1.01%
  • moneroMonero(XMR)$144.01-0.89%
  • okbOKB(OKB)$43.010.06%
  • Aerarium FiAerarium Fi(AERA)$7.12-13.06%
  • binance-usdBUSD(BUSD)$1.00-0.04%
  • BSCEXBSCEX(BSCX)$237.310.49%
  • ethereum-classicEthereum Classic(ETC)$15.08-1.16%
  • cosmosCosmos Hub(ATOM)$6.99-0.94%
  • hedera-hashgraphHedera(HBAR)$0.049537-1.74%
  • GGTKNGGTKN(GGTKN)$0.1121310.76%
  • filecoinFilecoin(FIL)$3.18-1.08%
  • crypto-com-chainCronos(CRO)$0.049868-0.73%
  • internet-computerInternet Computer(ICP)$2.94-1.74%
  • lido-daoLido DAO(LDO)$1.46-1.37%
  • AptosAptos(APT)$5.40-3.52%
  • MantleMantle(MNT)$0.390202-0.64%
  • makerMaker(MKR)$1,393.757.10%
  • quant-networkQuant(QNT)$85.96-2.62%
  • vechainVeChain(VET)$0.016595-1.13%
  • ArbitrumArbitrum(ARB)$0.820.59%
  • nearNEAR Protocol(NEAR)$1.09-1.74%
  • optimismOptimism(OP)$1.272.27%
  • EdgecoinEdgecoin(EDGT)$1.00-0.03%
  • KaspaKaspa(KAS)$0.046018-2.59%