Have a great day, Alex’s readers!
Let’s review a little bit about what we discussed in the previous part about the activities of Smart Money on Santos token. With SANTOS getting positive acknowledgment from the community in the context of the upcoming World Cup, Smart Money is also gaining a high profit of 163%.
Although it’s undeniable that the influence of Smart Money contributed to pushing the price to hit the peak in such a short time span, the volume of tokens being held in the wallet is still limited.
In this article, I will give you the answer to the question if there is a high chance of big cash flows dumping SANTOS tokens in the near future. Let’s discover more about the behaviors of the leading players in the network with Alex!
As you can see, the TokFlow Shark Analyst dashboard allows us to track the list of Sharks-Whales with detailed transactions of each wallet in the cluster. It is obvious that SANTOS isn’t highly regarded by Shark-Whales with only 4 players taking part at the time of writing.
Though not attracting too many Sharks, it is interesting to note that all the wallets are profitable more than 100%. The total volume of tokens held is in the range of 750-1000 tokens for each wallet. Despite the quite small investment volume, Sharks wallets are undeniably enjoying the profit at a good position in the market.
Let’s check the Shark 7614 wallet having 17 transactions in total with the highest profit on the list.
The above chart provides information about the buying and selling volume of the Shark7614 wallet at each price range in real-time. In the last 4 months (June - Oct 2022), this wallet was completely inactive without entering into any transactions concerning SANTOS. However, it was seen mostly active during May 2022 when buying a lot of tokens after the price dropped sharply to around $2.
Checking more details in the Transaction History section, I noticed that the Shark7614 wallet only made consecutive BUY orders without selling out.
The total assets in this wallet are currently worth only $10K with almost 86% of SANTOS being held. Moreover, the average buying price is approximately $4 while SANTOS’s current price is about $11, this Shark7614 wallet is reaping such a good profit of over 228%.
For the rest of the wallets, it’s noteworthy that they tend to accumulate quite a large amount of SANTOS tokens when the price goes down. Therefore, Shark wallets have achieved an ideal position when buying the tokens at prices ranging from $4 to $7.
Now let’s take a look at the Holder Tracking dashboard below:
There are some fundamental metrics we can view from these 2 charts:
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86.43% of the total token supply is held in Dev & Funds wallet worth $293M
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0.82% of tokens are in the hands of Retail Investors worth over $2M
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Whales-Sharks and Smart Money wallets are holding the least tokens (only 0,02% and 0.14% respectively)
These metrics indicate that Whales-Sharks and Smart Money wallets will not dump SANTOS tokens on a massive scale since they are holding only a small volume compared to Dev & Fund’s wallets. The asset percentage of Retail Investors also shows that the community is taking interest in investing in this Fan Token.
A closer look at this chart reveals that there was a concentration of Sharks-Whales wallets from September 24 to October 12 with signs of accumulating a large amount of SANTOS. This was the time when the token price gradually decreased.
Therefore, I suppose that in the upcoming time, Sharks-Whales are likely to continue to collect more tokens in anticipation of a strong bull run. Further down, you can check detailed information about the number of root tokens in possession of this wallet cluster.
As shown in the chart, the current SANTOS balance in the Sharks-Whales wallet is approximately 42K tokens. More importantly, the most noticeable behavior of the Sharks-Whales wallet is that the amount of Stablecoins they were holding suddenly increased to nearly 30M USD on October 22.
On the very next day, it was reduced to just 134K USD. In a nutshell, Sharks-Whales are having a great entry when trading SANTOS, so they hardly dump the token until it rebounds.
Tracking the metrics about Smart Money, I can see that this wallet only held a small amount of SANTOS tokens from the end of September to the end of October 2022, ranging from 1,2K - 2,5K, except for the highest SANTOS balance of over 6K tokens (equivalent to more than 9M USD) on October 11.
Hence, now I can give you the answer to the question discussed in the previous article that there is little likelihood of Smart Money wallet dumping the tokens in the upcoming time since the volume of tokens it’s holding currently is not big enough.
Last but not least, it's such a pity not to mention the key player in this game - Dev & Funds wallet. As you can see in the chart, the buying time of this wallet is almost concurrent with the selling time. By holding a huge amount of tokens, Dev & Funds are undeniably taking part in the pricing process of SANTOS to manipulate the market and pump the price to reach a peak of 25.2 on September 24.
In conclusion, the leading players in the networks seem to hold SANTOS tokens with the expectation of a better entry in the near future. Specifically, Sharks-Whales and Smart Money wallets only consider Fan Token as a meme coin, so the number of tokens held is not too large and the dumping force is not as strong as you may think.
It's crucial for these wallet clusters to wait for a price adjustment to accumulate more. However, considering its profits, I think it is still a potential Fan Token, especially in the upcoming World Cup season.
Hopefully, you can gain more insights with this analysis. And don’t forget to leave comments for Alex!