Oxalus Insights 60s Analytics

60s Analytics: Some Smart Money Wallets Are Buying Actively An Ordinals Collection

60s Analytics Mar 14 2023

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When tracking Smart Money movements, our research team has noticed a collection that is gaining attention. The BITRING collection has become a popular choice for three wallet addresses, with the “yieldly.eth” address leading the pack by holding 263 NFTs, currently valued at around 31 ETH. This wallet has made several purchases in the last 48 hours, with the initial collection bought at an average price of 0.04 ETH. The latest transactions took place just 5 hours ago, with the buyer continuing to accumulate more at a price of 0.115 ETH.

Source: Nansen

The second wallet address currently holds a total of 70 NFTs, worth about 8.28 ETH. This shark bought at a rather high average price of 0.2 ETH, which means that it is currently experiencing a temporary loss because the floor price of BITRING at the time of writing is only 0.15 ETH.

On the other hand, the third wallet address only holds 36 NFTs, but the owner has seen a high return on this collection, up to 76%. This means that the owner has earned about 12 ETH. In addition, this whale also has an impressive profit from other collections.

Source: Nansen

Currently, the trading volume of BITRING on OpenSea has skyrocketed to more than 50 ETH, and the floor price has doubled compared to yesterday’s price of 0.08 ETH. However, it appears that the above Smart Money wallet addresses are still willing to easily accept this price.

Source: OpenSea

If the floor price of this collection shows signs of correction in the next few days, it may be a good opportunity to follow these Smart Money wallets. We will continue to monitor the next moves of these three wallet addresses over the next few days. What do you think? Is this a good opportunity to buy? If you find this information helpful, follow us for more interesting information!

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