$WOOF Soars by 4000% Amidst the Bear Market

From NFT Pioneers to Profiteers

Recent data revealed that top Non Fungible Token (NFT) traders have reaped profits worth $299 million. As of the latest records compiled by CoinGecko, the top 15 NFT traders have earned between 5,221 ETH to 55,291 ETH in profits, translating to an impressive $9.61 million to $101.76 million in current valuation. 

This remarkable range of returns underscores the potential within the NFT market. Now, the crucial question is: Which collections did they profit from?

The Major NFT Collections Dominating the Profits

When we analyze where these substantial profits originate, it’s evident that certain NFT collections stand out. Blue chip collections from Larva Labs, Yuga Labs, and Art Blocks make up over 94.5% of the total profits generated by the top 15 NFT traders. 

Leading the pack is the iconic NFT pioneer, CryptoPunks, contributing an astounding 70.6% of the profits alone. The first version of CryptoPunks further contributes 2.0%, solidifying its dominance.

Further, Art Blocks, a generative art project, claims the second-highest spot at 12.2% of profits, followed by Bored Ape Yacht Club (BAYC) at 5.5% and Meebits at 3.4%. Interestingly, BAYC’s sibling collection, Mutant Yacht Club (MAYC), accounted for a mere 0.7% of the traders’ profits.

In fact, only three of the top 15 NFT traders have made substantial gains from Bored Ape Yacht Club (BAYC) investments.

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Meet the Pioneers: Identifying the Most Profitable Traders

The standout among the NFT traders in terms of realized profits is the pseudonymous SethS. With an impressive haul of 55,291 ETH, valued at a staggering $101.76 million at the time of writing, SethS has set the bar high. This success has been consolidated across nine addresses into a single NFT whale address: 0x2238c8b16c36628b8f1f36486675c1e2a30debf1.

SethS’s profits stand out as more than three times those of the second most profitable NFT trader, Punks OTC, who’s earned 15,838 ETH ($29.11 million). Following closely is Mr.703, holding the third position with gains of 14,624 ETH ($26.88 million). Notably, CryptoPunks investments have been a common denominator among 11 of the top 15 NFT traders, demonstrating the collection’s prowess in driving substantial profits. 

While CryptoPunks takes the lead, Art Blocks has paved the way for success among the top NFT traders. A trader known as Akira, identified by their OpenSea profile, has garnered an impressive 5,984 ETH from the generative art project Art Blocks. 

The founder of Wealthsimple, Rudy Adler, follows with 5,320 ETH in profits from Art Blocks, while 0xef6d..4a74 claims 4,656 ETH. Additionally, 0x4bbb..a758 and Pablo Punkasso have demonstrated that Art Blocks investments hold potential worth exploring.

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Beyond the Hype

The journey of top NFT traders showcases the potential for substantial returns in the realm of NFTs. While success stories abound, it’s essential to recognize that successful outcomes stem from a combination of skill, favorable timing, and a bit of luck. 

The rise of blue-chip NFT collections, like CryptoPunks and Art Blocks, underscores the importance of astute investment decisions. Yet, it’s also a reminder that diversification and careful research remain pivotal for anyone venturing into the dynamic world of NFT trading.