Who is bullish on Azuki? Analysis of the movements of the top eight whales

Azuki's potential: analysis of top eight whales' movements

Azuki Elementals caused controversy in the community and caused Elementals to fall below the issue price, with Azuki floor price falling below 9 ETH at one point. The author will not elaborate on the sale replay and community solicitation of Azuki Elementals. In this article, the author will explore the attitude of the most influential participants in the NFT field towards Azuki Elementals from the perspective of whale data.

According to OpenSea data, as of the time of writing, the total number of Azuki Elementals (with pictures) is 9456, of which about 60% of holders hold 1 Elementals NFT, about 38% of holders hold 2-10 pieces, and about 2.6% of holders hold more than 10 pieces.

Azuki Elementals holder distribution, source: OpenSea

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In the Azuki Elemental Beans (without pictures) series, 62% of addresses hold 1 piece, and 3.2% of addresses hold more than 10 pieces. In contrast, 3.2% of addresses in Meebits also hold more than 10 pieces, 1.7% of addresses in Azuki hold more than 10 pieces, and the proportions of addresses holding more than 10 pieces in BAYC, Milady Maker, and Doodles are 0.9%, 3.4%, and 0.8%, respectively. It can be seen that the concentration of Elemental Beans whales is still relatively high.

Azuki Elemental Beans distribution, source: OpenSea

Below are the participation situations of the eight major whales selected by the author today. These whales have not yet started to sell Elementals on a large scale, most of them hold a wait-and-see attitude or a continuous optimistic attitude, and there are also some addresses that did not participate in the sale but frequently trade in the secondary market. These addresses either continue to arbitrage or hoard NFTs with certain attributes that they are optimistic about. Of course, the signals released by these whales are relatively one-sided, and there is a high probability that they will be opposite to the market trend.

Andrew Kang: Azuki Elementals’ first whale (580 pieces)

According to OpenSea data, the largest holder of Azuki Elementals is beanwhale.eth, who holds 580 pieces of Azuki Elementals NFT, accounting for 6.76% of the current circulation of Azuki Elementals. The address is marked by Nansen as Andrew Kang, co-founder of Mechanism Capital.

Andrew Kang has always been a staunch supporter of Azuki and said a few days ago that Azuki is currently one of the top three NFT series, focusing on fashion, technological innovation (ERC721A, physical-NFT PBT), etc., and is expected to become the largest series.

Where did beanwhale.eth’s Azuki Elementals come from? This address received 290 unopened Elemental Beans NFT airdropped 4 days ago (June 24th, 15:03) for holding Azukis, and minted 290 Elemental Beans NFT for 580 ETH in a transaction at 00:03 today, with an average cost of 2 ETH per mint.

beanwhale.eth has already opened all of their Elementals. So far, no Elemental trades have been seen in the secondary market.

According to NFTGo data, Azuki’s three major series (Azuki Elementals, BEANZ, and Azuki) account for nearly 75% of Andrew Kang’s NFT investment portfolio by NFT holding, including 299 Azukis and 436 BEANZ Official.

beanwhale.eth NFT holding distribution, source: NFTGo

0x1E193 Address: The largest giant of Elemental Beans

The blue-chip giant 0x1E1936 currently holds 459 Elemental Beans and 26 Azuki Elementals, ranking first among Elemental Beans giants.

On June 24th, 15:02, the address 0x1E1936 received 101 Elemental Beans airdropped in a transaction, and then received multiple Azukis and BEANZ from addresses such as grails.grail.eth and grail.eth to participate in the presale. Then, at 00:07 today, it minted 177 Elemental Beans for 354 ETH, and at 00:10, it minted 74 for 148 ETH.

After that, the address sold 14 Azukis for 132 ETH, and then minted 62 Elemental Beans again at 04:44 (strangely, the transaction method is “Claim”, not “Airdrop”, and no ETH was spent, which may be for airdrop claim). Then, at 05:28, it swept up 24 Elemental Beans on Blur with an average price of 1.94 ETH.

The first transaction of this address occurred about 3 months ago. Currently, it only holds Azuki’s ecological NFT series, including 141 Azukis and 78 BEANZ Official.

Source: NFTGo

luggis.eth: The largest presale buyer

According to OpenSea data, as of the time of writing, luggis.eth holds 126 Azuki Elementals (ranked third) and 295 Elemental Beans (ranked fourth).

luggis.eth is the largest Azuki Elementals presale buyer, spending a total of $1.5 million to purchase Elementals. At 00:04, 207 Elemental Beans were minted for 414 ETH, followed by 200 Elemental Beans being minted for 400 ETH at 00:10. Below is a summary of luggis.eth’s NFT investment portfolio according to NFTGo. Source: NFTGo

In addition, the luggis.eth subdomain vault.luggis.eth currently holds 207 Azuki, 254 BENZ Official, and 141 Elemental Beans.

christian2022.eth: Willing to offer $40 million to acquire Azuki

The next address to watch is the whale christian2022.eth, which belongs to Christian, a partner at NextGen Digital Venture. Currently, he is the second largest whale (holding 356) of Azuki Elementals Beans and also the second largest pre-sale buyer of Elementals. According to NFTGo data, he also holds 703 BEANZ Official, 39 Azuki, and 54 Azuki Elementals. Christian2022.eth jokingly stated today that he is willing to offer $40 million to acquire Azuki. Recommended reading: “Interview with NFT whale planning to acquire Azuki: I increased my position, NFT will not die”.

Christian2022.eth minted 39 Azuki Elementals Beans for 78 ETH in the pre-sale at 00:02 today, followed by 332 Azuki Elementals Beans being minted for 664 ETH at 00:10. After that, he claimed 39 Azuki Elementals Beans at 09:04.

suicide.eth: Paid up to $53,000 in transaction fees when participating in the pre-sale

suicide.eth is the fourth largest participant in the Elementals presale, minting 136 Azuki Elementals Beans for 272 ETH. It is worth noting that he also paid up to $53,000 (about 28.6 ETH) in transaction fees. This morning, suicide.eth sold 7 Elementals Beans and then transferred 104 Elementals Beans to two other addresses. As of the time of writing, suicide.eth holds 16 Elementals Beans.

Huang Licheng: Frequently operates the Azuki series, buys Frog Attribute Elemental #19481 for 36 ETH

Huang Licheng (machibigbrother.eth) did not participate in the Elemental presale, but was frequently trading Azuki series NFTs today, holding 344 Azuki Elemental Beans (the third largest whale) at the time of writing.

It is worth noting that Huang Licheng bought Elemental #19481 with frog attributes for 36 ETH today, setting the highest transaction price for the NFT series.

dingaling.eth: Minted 122 Elemental Beans NFTs for 244 ETH

Early BAYC participant dingaling.eth is also an Azuki whale, currently holding 122 Azuki, 167 Azuki Elementals, and 63 Elemental Beans. dingaling.eth minted 122 Elemental Beans NFTs for 244 ETH at 00:09 this morning.

@pimpcapital: The ninth largest Azuki Elementals whale

Blue chip whale PimpCapital (0x66666…66666) currently holds 50 Azuki Elementals (the ninth largest whale).

It is worth mentioning that the TeamAzuki team currently holds 107 Elemental Beans NFTs, ranking tenth on the leaderboard.

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