Whale Wallet Analysis - COMP

Whale Wallet Analysis - COMP

By D3F1 | DeFi Box | 19 Oct 2020


Hello guys, I am back with another Whale Wallet Analysis for your pleasure and research.

I have previously conducted a similar analysis for AMPL, SNX, BASED, LINK, YFI, YFV, UNI, and WBTC - and they were quite well received, so I would love to continue this series for you.

The COMP rich list is accessible on the Etherscan page for anyone to see. 

As always, I have ignored all the contract addresses or any exchanges that might have holdings. In addition to this, I have ignored whales solely holding COMP as I am more interested in what other DeFi tokens they might be holding. 

I have also ignored any whales that have alternative token holdings under $100K because I just want to see what other tokens they have sizable holdings in. 

Following is a list of hand-picked COMP whales that I found - I hope you find it interesting;

#1 Whale 

Rich List: 16th  
Wallet Address: link
COMP Holdings: 70.4K/ $7.4M 
Total COMP Supply: 0.7046% 

Other notable DeFi Holdings: 

- 41M $SRM: ~ $53.3M - First bought in August 2020. The whale has been removing heavy bags of this coin during October 2020.
- 73.3M $KEEP: ~ $40M - Bought September 2020.
- 4.9M $USDT: ~ $4.9M - Bought on Binance in October 2020.
- 22.3M $HXRO: ~ $4.75M - Bought toward the end of September 2020 on Bittrex.
- 3.57M $BUSD: ~ $3.57M - Bought in October.
- 2.59M $USDC: ~ $2.59M -  Bought in October.
- 575K $SNX: ~ $2.29M -  Bought in October.
- 7.3K $OXT: ~ $1.82M -  Bought in October on Binance.
- 52.2K $NMR: ~ $1.5M - Bought in October on Binance.

Whale #1 bought his COMP in September 2020 from Bittrex. This whale is a mega whale with over $116 million in total assets - the majority of which is held in the Serum token. Interestingly, this whale does not have any DeFi farm and is not lending any of his tokens to Compound to earn interest. However, he does have around $712K inside the KEEP/WETH liquidity pool.

#2 Whale 

Rich List: 28th  
Wallet Address: link
COMP Holdings: 59.2K/ $6.2M 
Total COMP Supply: 0.5929% 

Other notable DeFi Holdings: 

- 141K $USDC: ~ $141K

Whale #2 is a much smaller whale but has substantial holdings which total $6.4 million. This whale bought his COMP in June 2020.

#3 Whale 

Rich List: 43rd
Wallet Address: link
COMP Holdings: 30.16K/ $3.17M 
Total COMP Supply: 0.3016% 

Other notable DeFi Holdings: 

- 23.35M $USDC: ~ $23.35M - First purchased in May 2020.
- 41.5K $ETH: ~ $15.6M - 
- 3.9M $FTT: ~ $14M - Purchased May 2020.
- 6.35M $PAX: ~ $6.35M - Purchased June 2020.
- 522K $LINK: ~ $5.64M - Purchased June 2020.
- 1.7M $USDT: ~ $1.7M - Purchased May 2020.
- 88 $YFI: ~ $1.359M - Purchased September 2020.
- 2.3K $MKR: ~ $1.310M - Purchased June 2020 on OKex.
- 435 $PAXG: ~ $831K - First purchased July 2020 from Crypto.com.
- 239K $UNI: ~ $753K - Bought September 2020.
-69K $HT: ~ $305K - Purchased June 2020.
-525K $LEND: ~ $213K - Bought in August 2020.

Whale #3 first purchased his COMP in June 2020 and was slowly removing some COMP from his wallet during September 2020. The whale is also a mega whale with over $75 million in total assets. Again, this whale is not lending his tokens to any lending platform to earn a yield which is quite surprising.

#4 Whale 

Rich List: 63rd  
Wallet Address: link
COMP Holdings: 14.48K/ $1.52M 
Total COMP Supply: 0.1449% 

Other notable DeFi Holdings: 

- 234M $CELR: ~ $1M - Bought as early as March 2019.
- 1.5M $KEEP: ~ $819K - Received in October 2020.

Whale #4 is a smaller whale with just $3.4 million in total assets. He purchased his COMP in April 2020 in just one transaction. On top of this, Whale #4 does not lend any assets to Compound or farming for any yields.

#5 Whale 

Rich List: 68th  
Wallet Address: link
COMP Holdings: 12K/ $1.26M 
Total COMP Supply: 0.12% 

Other notable DeFi Holdings: 

- 177.5K $LINK: ~ $1.9M - First purchased as early as November 2018 from Binance. Most recently bought in September 2020.

Whale #5 first purchased his COMP in March 2020 and recently purchased some more in September 2020. The whale has $3.2 million in total assets with nothing being lent to lending platforms.

#6 Whale 

Rich List: 75th  
Wallet Address: link
COMP Holdings: 10K/ $1.05M 
Total COMP Supply: 0.1% 

Other notable DeFi Holdings: 

- 858K $cETH: ~ $6.45M - Lent ETH to Compound Finance in July 2020.
- 213M $AMP: ~ $1.28M - Purchased on Uniswap in September 2020.
- 808 $cWBTC: ~ $186K - Lent BTC to Compound Finance in October 2020.
- 188K $SWRV: ~ $119K - Purchased Swerve DAO token in September 2020.
- 246K $MOON: ~ $111K - Purchased at the start of September 2020.

Whale #6 first purchased COMP in July 2020. In total assets, Whale #6 has around $20.5 million, however, over $3.7 million of this is in debt in which he borrowed USDC. 

Interestingly, this is the first whale to have some assets in liquidity pools and yield farms. He has a total of $8.3 million in Liquidity pools which is split between the Compound Curve Pool and the DPI/WETH pool on Uniswap.

On Yield Farming, he has around $29k. He can currently claim INDEX, CRV, COMP, DODO, and Y Curve.

#7 Whale 

Rich List: 76th  
Wallet Address: link
COMP Holdings: 9.8K/ $1M 
Total COMP Supply: 0.0983% 

Other notable DeFi Holdings: 

- 9.1M $USDT: ~ $9.1M - First purchased in June 2020.
- 13.1K $ETH: ~ $4.9M - 
- 50K $LINK: ~ $540K - First bought in July 2020.
- 1M $HXRO: ~ $214K - First bought in July 2020.
- 215 $MKR: ~ $122K - Bought in September 2020.
- 108K $USDC: ~ $108K - His first purchase was in May 2020.

Whale #7 first purchased his COMP in June 2020 and continued to purchase more in September 2020. Whale #7’s total assets reach almost $16 million with $9.1 million in USDT - a stablecoin. This whale has not lent anything to Compound Finance and is not liquidity farming.

#8 Whale 

Rich List: 85th  
Wallet Address: link
COMP Holdings: 5.7/ $610K 
Total COMP Supply: 0.0579%  

Other notable DeFi Holdings: 

- 64K $ETH: ~ $24M - 
- 1.688M $LINK: ~ $18.25M - First purchased LINK in October 2019.
- 9M $USDT: ~ $9M - First purchased USDT in September 2019 and has traded this token many times since.
- 4.395M $BUSD: ~ $4.395M - Purchased October 2019.
- 969K $UNI: ~ $3M - Bought in September 2020.
- 18.75M $ENJ: ~ $2.8M - First bought in December 2020.
- 109M $MATIC: ~ $1.83M - Bought June 2020.
- 485K $OMG: ~ $1.62M - Bought May 2020.
- 4M $ZRX: ~ $1.59M - First bought September 2019.
- 6M $BAT: ~ $1.29M -  First bought September 2019.
- 1.076M $USDC: ~ $1.076M -
- 809K $KNC: ~ $743K - Bought in July 2020.

Whale #8 first bought his COMP in August 2020. He is most certainly a mega whale as his total assets are above the $72 million level. Like most the whales on this list, he has not lent any of his tokens to lending platforms like Compound Finance and is neither yield farming.

#9 Whale 

Rich List: 86th  
Wallet Address: link
COMP Holdings: 5.63K/ $593K 
Total COMP Supply: 0.0563% 

Other notable DeFi Holdings: 

- 2.7K $ETH: ~ $1M -
- 74.7K $LINK: ~ $808K - Purchased in Feb 2020.
- 160K $OMG: ~ $536K -  Purchased in Feb 2020.
- 1.9M $ENJ: ~ $296K -  Purchased in Feb 2020.
- 1M $BAT: ~ $234K -  Purchased in Feb 2020.
- 2.1M $POWR: ~ $174K -  Purchased in Feb 2020.
- 1.2M $GNT: ~ $119K -  Purchased in Feb 2020.

Whale #9 first purchased his COMP in July 2020. It seems that this whale must have transferred his assets to this new wallet in February 2020 as this seems to be a date when all of his tokens entered this specific wallet. This whale has a total of $3.5 million in assets - none of which is lent to lending platforms.

#10 Whale 

Rich List: 92nd  
Wallet Address: link
COMP Holdings: 4.3K/ $453K 
Total COMP Supply: 0.0430% 

Other notable DeFi Holdings: 

- 1.53K $aWBTC: ~ $17.6M - First lent BTC to Aave in August 2020.
- 301 $ETH: ~ $113K - 

Whale #10 first started to load up on COMP in June 2020. This whale is quite a large whale with over $150 million in total assets - With an additional $43 million in debt.

This whale has a total of $150 million in deposits to platforms. For example, he has $60 million in DAI which he lent to Compound. Additionally, he has $63 million in the WBTC Maker Vault (used as collateral to take on debt), $17.6 million WBTC which has been lent to Compound, and around $448K in staked Sushi.

On top of this, he has quite a large holding in Liquidity Pools. For example, he has around $24 million in DAI/ETH on Sushi swap, $11.2 million in YFI/ETH on there, and $4.3 million in SUSHI/ETH on the same platform.

His debt is largely from his Maker Vault which totals around $35 million. On top of this, he has borrowed ETH, LINk, REN, USDT, and BAT from Aave.

Conclusion

The COMP whales are quite surprising in the fact that the majority of them are not lending their tokens to earn interest. This is quite perplexing due to the fact that they are all holding significant volumes of COMP so they must certainly know they can earn interest from lending to Compound Finance etc.

On top of this, the range of tokens that these whales hold is quite narrow. There aren’t many tokens that are unknown held by these whales and quite a few of them own a large proportion of stablecoins.


D3F1
D3F1

Yet another defi fan


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