Top altcoins held by crypto billionaires
Have you ever wondered how prominent crypto billionaires and trading moguls navigate the market? The altcoins they trade, their activity in DeFi protocols, and the strategies they implement to grow their wealth?
On-chain data sheds light on how the richest individuals in the crypto market behave. Therefore, it provides valuable insight into their investment strategies, risk management and lucrative opportunities.
Andrew Kang: Crypto Billionaire Instincts
Andrew Kang joins the list of crypto billionaires. He is a co-founder of Mechanism Capital and has a net worth of more than $200 million. As a result, insights into his on-chain strategies can be gleaned by tracking his public wallet address.
Kang made a significant initial purchase of 795,120 ARB tokens worth nearly $1 million on April 4. He then bought 816,010 and 693,120 ARBs worth about $1.84 million on April 5.
Before the Arbitrum Foundation unveiled two new governance proposals on April 6, Kang had acquired 2.31 million ARB tokens. He then sold all of his ARB holdings on April 19, generating an impressive 40% return on investment.
Lafa: Investment in Solidly and Ve(3,3) Tokens
Lafa, the founder of the DeFi protocol DEUS, has a net worth of over $5 million. The public wallet address of this crypto-billionaire reveals investments in various DeFi tokens, notably Solidly and Ve(3,3).
- 2 million dollars in SOLID
- $560,000 in THE
- $185,000 in SNEK
- $372,000 in RAM
- $35,000 in LIKE
These tokens have not performed well lately. Nevertheless, Lafa seems to have placed his bets on Solidly and Ve(3,3) tokens.
Justin Sun: DeFi Activities in the TRON Ecosystem
Justin Sun is one of the youngest crypto billionaires. He is the founder of TRON and has a net worth of more than $400 million.
Tracking his public wallet address reveals his investments in various tokens:
- $850,000 in AAVE
- $286,000 in CRV
- $173,000 in COMP
- $165,000 in MULTI
- $156,000 in CVX
- $146,000 in MATIC
- $105,000 in KCS
- $103,000 in SUSHI
Sun actively participates in DeFi activities to increase his crypto wealth. By providing liquidity in DeFi, he contributes his assets to liquidity pools that facilitate transactions and trading on decentralized crypto exchanges. Consequently, he earns fees or rewards in return for liquidity, which contributes to the return on investment.
Arthur Hayes: Happy in $GMX
Arthur Hayes is another successful analyst who made the list of top crypto billionaires. He co-founded BitMEX and has a net worth of over $500 million.
Tracking his public wallet address shows his investments in various tokens:
- $44,000 in BOND
- $31,000 in ETH
- $19,000 in PENDLE
- $14,000 in ARB
A closer look at his DeFi activities reveals that he relies on the decentralized crypto exchange GMX. In fact, Hayes has invested a significant amount of funds in GMX and is earning returns from it:
- Bet $15.70 million in GMX
- Bet $1 million in Escrowed GMX (esGMX)
At a minimum, GMX provides Hayes with a 4.32% APR, paid entirely in Ethereum (ETH), worth between $3,000 and $5,000 daily.
Hayes has had a profitable performance by investing most of its holdings in GMX. Therefore, keeping an eye on this crypto billionaire’s chain activity and buying behavior can provide significant opportunities.
Crypto Billionaires 2023: Buy and Bet Could Be the Answer
Tracking the activities of crypto-billionaires on-chain reveals invaluable insights into their investment strategies, risk management and the opportunities they seize to grow their wealth. Indeed, these influential figures remain at the forefront, actively participating in various protocols and experimenting with new strategies.
Understanding how these individuals trade the market can offer a wealth of knowledge for investors and crypto enthusiasts. Therefore, one must learn from their achievements and mistakes in order to develop a more informed and robust approach to investing in cryptocurrencies.
While it’s crucial to remember that every investor’s risk tolerance and goals are different, understanding the actions of the most successful players can be a guiding light in the complex and often volatile crypto industry.
Disclaimer
In accordance with Trust Project guidelines, this feature article presents the opinions and perspectives of industry experts or individuals. BeInCrypto is dedicated to transparent reporting, but the views expressed in this article do not necessarily reflect the views of BeInCrypto or its employees. Readers should verify information independently and consult with a professional before making decisions based on this content.
