By Bitcoin.com - 8 months ago - Reading Time: 2 minutes
Report: Cryptopunks and Blue Chips Power Top NFT Traders to Over $300 Million in Profits
The top 15 traders in the Ethereum non-fungible token (NFT) market have amassed up to $101.6 million in profits, as revealed in Coingecko’s latest NFT report. These traders lucratively capitalized on early investments in esteemed blue-chip NFT collections such as Cryptopunks, Bored Ape Yacht Club (BAYC), and Art Blocks.
Navigating the NFT Gold Rush: Coingecko Uncovers Strategies of Top 15 Profitable Traders
In its latest NFT analysis, Coingecko details that the top traders in the NFT arena have earned between $3.3 million and $101.6 million individually, cumulatively exceeding $300 million. The report explains the strategic investment choices and collections that have fueled the success of the foremost NFT traders.
Delving into the profits of the top 100 Ethereum NFT traders, Coingecko’s study discloses the most significant victors of the market thus far. This analysis focuses on traders’ realized profits, meaning the tangible earnings secured through NFT sales. To qualify for this elite list of 100, traders were required to exhibit consistent activity over the past half-year and possession of no fewer than two collections.
The study illustrates that the leading NFT traders predominantly wagered on blue chip NFT collections at an early stage, an investment that has subsequently skyrocketed in value. Notably, Larva Labs’ Cryptopunks constitute an astonishing 70.6% of total profits for the top 15, followed by Art Blocks’ generative art at 12.2% and Bored Ape Yacht Club at 5.5%.
Occupying the zenith of the rankings, the NFT trader dubbed “Seths” boasts $101.6 million in realized gains to date. This vast fortune was cultivated across nine distinct addresses brimming with valuable Cryptopunks and other sought-after blue chip NFTs. Trailing in prestige, “Punks OTC” and “Mr.703” secure the next upper echelons with profits of around $29 million and $27 million, respectively.
Of the 15 top earners, 11 have extracted millions solely from Cryptopunks. For instance, trader 0x7eb2..3f6b clinched fifth place chiefly by selling one specific Cryptopunk to a renowned buyer. Conversely, some elite traders, such as Akira, directed their focus more towards Art Blocks.
Though these NFT moguls have reaped monumental wealth, the report underscores that this prosperity hinged substantially on early bets on the correct collections. Without astute identification of the upcoming blue chip collections, replicating such returns appears highly improbable. The study cautions average traders to diversify, to avoid losing opportunities in the few collections poised for explosive growth.
Coingecko’s NFT report can be read in its entirety here.
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Original source: Bitcoin.com