The portfolios of the 20 largest whales in the non-fungible token market contain NFTs worth at least $4.29 million, according to a report from CoinGecko.
Analysts indicate that all of the top 20 NFT whales are NFT millionaires despite the ongoing bear market. The richest whale was SethS, whose portfolio was valued at 11,748 ETH, or $19.23 million. Wilcox, the second richest NFT whale, followed with a portfolio valued at 11,336 ETH, or $18.55 million.
Four of the top 20 NFT whales were also among the top 15 NFT traders. SethS is leading the way as the top NFT whale and trader. Another user with the nickname Mr.703 is in third place in both rankings.
What’s in an NFT whale portfolio?
Almost all portfolios of leading NFT whales consist of tokens from the CryptoPunks collection. For 18 of the top 20 NFT whales, the blue chip NFT collection accounts for at least half of the portfolio value. Wilcox currently has the most CryptoPunks with 215, while SethS has 668 CryptoPunks V1.
The only exceptions are users with the usernames Machi Big Brother and JRNY Crypto, who are among the top NFT whales thanks to the Bored Ape Yacht Club (BAYC) collection from Yuga Labs. Machi has 135 BAYC NFTs and JRNY Crypto has 103 BAYC.
Additionally, of the top 20 NFT whales, seven are major collectors, each with over 1,000 NFTs in their portfolios. However, five NFT whales have diverse portfolios: each of them consists of NFTs from more than 60 collections, while seven whales have only six to eight different NFT collections.
At the end of August, the NFT market’s weekly volume was only $73.2 million, compared with roughly $1.8 billion at its peak. The number of users trading NFTs also hit a two-year low of about 50,000.
The most famous and sought-after collections of non-fungible tokens have also seen their minimum prices drop significantly. Among them were CryptoPunks, Bored Ape Yacht Club, Mutant Apes, and Azukis fell by 62% in a month. Amid these declines, NFT creator royalties have hit a two-year low for two reasons.
Source: Cryptocurrency
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