Binance funds take over large amount of sats The biggest winners from ordi to sats make a profit of 260 million RMB.

Binance dominates sats funds with an impressive 260 million RMB profit for top winners

Author: Riyue Xiaochu, member of the CoinCore team of Hu Zi Guan Coin Source: X, @riyuexiaochu

From the on-chain data, it can be seen that the buying power of sats is very strong. Less than a day since its launch on Binance, it has captured 19.17% of the market, worth about $200 million. But visibly, SATS has not experienced a major drop, and this is against the backdrop of a 143% increase.

A big player sold $36 million yesterday and became the biggest winner. According to on-chain investigations, this big player made several million dollars from ordi in May and made a huge leap in wealth by heavily investing in sats in July.

SATS does not have as much volume as ordi on exchanges, and the chips are still quite scattered. A large number of early profitable chips have not been sold, and currently, 7 out of the top 10 addresses are personal addresses. The largest individual holder has 15 trillion SATS, which is now worth $7.2 million. Perhaps their goal is the vast expanse of the universe.

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1. Address Analysis

Top holder: Binance

Second holder: Gate

Third holder: Personal address, minted and untouched.

Fourth holder: Personal address, minted and bought a batch in September.

Fifth holder: Personal address, bought in late August.

Sixth holder: Personal address, minted.

Seventh holder: Personal address, bought in mid-August.

Eighth holder: Personal address, minted and untouched.

Ninth holder: Personal address, bought in August.

Tenth holder: Marked as Binance wallet, but the amount transferred is relatively small, so the authenticity is uncertain.

1) From the on-chain data, SATS has strong buying power. Within less than a day since its launch on Binance, it has captured 19.17% of the market, worth about $200 million. But visibly, SATS has not experienced a major drop. And this is against the backdrop of a 143% increase since Binance announced its launch. Within less than 24 hours, the spot trading volume has reached $400 million.

2) Looking at the distribution of chips, SATS has a wider range of holders, with about 25% currently held on exchanges. In comparison, ordi already accounts for over 60% of the volume on the exchanges. Looking at the on-chain addresses, SATS has 45,893 holding addresses, while ORDI only has 13,146 holding addresses.

3) SATS also has a clear characteristic of having more individual holders. Among the top 10 holding addresses, 7 wallets belong to individuals, some are minted, and others are acquired through purchases. But in terms of profitability, it is much lower than ordi. ORDI’s minting profits were several thousand times higher (if I remember correctly) when it launched on OK in May. And SATS has a difference in cost, ranging from around 40 to 100 times.

2. Binance Deposit Address Statistics

Above is a ranking of the top 10 deposit addresses into Binance. The largest address received 65 trillion sats, worth $36 million. The second largest received 17 trillion sats, definitely an A8 move. From the third to the tenth address, all of them made profit from A8. The largest holding on the blockchain is 15 trillion sats, surpassing the quantity of the third-ranked address.

3. Analysis of the Biggest Winner

The biggest player in sats is this fellow who owns 65 trillion sats. After Binance went live, they transferred all their sats and sold for profit. The value reached $36 million, approximately 260 million RMB.

These sats were transferred into the address on December 12, at first glance it seemed like a rat’s nest, but upon investigation, it was found not to be the case. These sats were transferred from 8 different addresses. Further investigation of these 8 addresses revealed that they were controlled by the same person, as they exhibited similar transaction behaviors. The time of transferring sats in the history was close, the method was similar, and the tokens operated were also similar. Moreover, the sats in these 8 addresses were purchased mostly in July, so it can be inferred that this is an individual’s behavior.

During the investigation, it was discovered that this whale previously had nearly 1 million ordi and sold them on Gate on May 12, at a price of $10 to $12, worth tens of millions of dollars. The purchase of ordi was made in the days after April 20, and it is speculated that they made profits of at least $5 million. Therefore, we roughly speculate that this whale made a few hundred dollars on ordi and then bought a large amount of sats in July, making a profit of over $36 million and achieving a major leap in wealth.

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