• Thor Hartvigsen, a data-driven DeFi researcher based in Copenhagen, has used on-chain analysis tools to examine the altcoin holdings of the 20 largest crypto funds.
• The eight largest VCs and their respective largest crypto holdings and recent investments were presented by Hartvigsen.
• Hartvigsen stressed that altcoin holdings can be indicative of strong investments, but there is no guarantee that VCs are “smart money” as they often act recklessly.
Data-Driven DeFi Researcher Examines Top Crypto Fund Altcoin Holdings
Thor Hartvigsen, a data-driven DeFi researcher based in Copenhagen has used the on-chain analysis tools of Watchers, Nansen, DeBank and Arkham to examine the altcoin holdings of the 20 largest crypto funds. Together, these have a total of over 1,200 wallets. In a thread on Twitter, Hartvigsen presents the eight largest VCs, their largest crypto holdings and recent investments.
Altcoin Holdings May Indicate Strong Investments
As the analyst points out, altcoin holdings can generally be considered an indication of strong investments. However, there is also no guarantee that VCs are “smart money,” since “they often act completely reckless.” Don’t wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today! “So use this info as you wish – to countertrade VCs or identify possibly strong narratives / trades from the funds that are still alive today,” Hartvigsen stressed.
Jump Trading: Largest Crypto VC Holding
Hartvigsen identified Jump Trading as the largest crypto VC with a total balance of $3.8 billion across Ethereum ($3.25 billion), Shiba Inu ($328 million), MATIC ($81 million), USDC ($50 million), wBTC ($50 million), LINK ($20 million) and COMP ($14 million). Smaller positions between $1 million and $10 million include: HFT, AVAX, SNX, CHZ MASK AAVE and Lido Finance (LDO).
Wintermute: Second Largest Crypto VC Holding
The second largest crypto VC is Wintermute with a total balance of $401 million which also holds majority in Ethereum ($301 million in wETH). That position is followed by $47 million in OP $22.2 million in LDO $17 Million ETH $7.5 Million GALA (the largest increase this month)$7.3 Million FTM$6.6 Million DYDX$6 Million BLUR$5.7 Million HFTand$5.1 Million MATICWintermute made itslargest saleinrecent historyin February when it sold about 4M worthofVCApe tokens accordingtoHartvigsentweetsummary
Conclusion
Altcoins can give investors insight into potential strong investments made by venture capital firms; however there is no guarantee that these firms make smart decisions when investing their money into cryptocurrencies or other projects related to blockchain technology