Whale Wallet Analysis - $LEND/$AAVE

Whale Wallet Analysis - $LEND/$AAVE

By D3F1 | DeFi Box | 8 Oct 2020

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

Before we proceed, I'm aware of the $LEND -> $AAVE migration. The smart contract still holds the name $LEND, and while the migration is happening as we speak, I figured that after the migration the proportion of tokens will stay the same, therefore making the following analysis still accurate, even after the full switch to $AAVE. 

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 LEND 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 LEND 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 LEND whales that I found - I hope you find it interesting;

#1 Whale 

Rich List: 7th  
Wallet Address: link
LEND Holdings: 13.9M/ $6M 
Total LEND Supply: 1.0705% 

Other notable DeFi Holdings: 

- 4.18M $FTX: ~ $14.232M - First starting purchasing in May 2020. Continued to load up aggressively in October.
- 7.3M $USDC: ~ $7.3M - Bought as early as May 2020 and has conducted many transactions ever since.
- 5.9M $PAX: ~ $5.9M - Bought PAX in June 2020.
- 3.5M $USDT: ~ $3.5M -
- 23.4K $COMP: ~ $2.5M - Purchased COMP in June 2020.
- 272K $LINK: ~ $2.4M - First purchased in June 2020 and continued as recently as October 2020.
- 503K $HT: ~ $2.2M - Bought in June 2020 and significantly added to his holdings in September.
- 2.3K $MKR: ~ $1.19M - 
- 462K $ZRX: ~ $161.5K -
- 665K $BAT: ~ $141K -

Whale #1 first purchased LEND in early August 2020 on OKEx and Binance. He is a serious whale with a total net worth of around $56 million. The majority of this holding is in FTT (FTX exchange token and ETH ($12 million).

Surprisingly, this whale has not lent any of his holdings to lending platforms or is farming for any DeFi yield.

#2 Whale 

Rich List: 9th  
Wallet Address: link
LEND Holdings: 12.5M/ $5.4M 
Total LEND Supply: 0.961% 

Other notable DeFi Holdings: 

- 220K $LEO: ~ $266K - Bought LEO in July 2019 - in one transaction.
- 8K $NMX: ~ $229K - Purchased in November 2019. Started to remove some holdings in August 2020.

Whale #2 bought his entire stash of LEND in May 2020 in one transaction. His entire holdings total around $5.589 million, with the majority of this being held in LINK. 

#3 Whale 

Rich List: 11th  
Wallet Address: link
LEND Holdings: 11.179M/ $4.8M 
Total LEND Supply: 0.86% 

Other notable DeFi Holdings: 

- 87K $ETH: ~ $29M - 
- 1.463M $LINK: ~ $12.9M - Bought LINK as early as June 2019 and has continued to purchase until October 2020.
- 638K $OMG: ~ $2.124M - First purchased in January 2019. After being quiet for OMG for over 1.5 years, the whale purchased some more in September 2020.
- 26.7M $POWR: ~ $1.96M - Purchased in November 2018. Sold some of his holdings in September 2020.
- 370.4K $SNX: ~ $1.385M - Bought in July 2020 from KuCoin and Binance.
- 5.2M $BAT: ~ $1.1M - First purchased in March 2019 on Binance and Bittrex. Added further to holdings in September 2020.
- 7.12M $ENJ: ~ $1M - Purchased in May 2019 and added to holdings in Q2 2020.
- 2.57M $ZRX: ~ $900K - Bought in January 2019 and purchased more in September 2020.
- 54.89 $YFI: ~ $841K - Purchased YFI in September 2020 on Binance.
- 679K $SXP: ~ $775K - Bought in August 2020 on Binance.
- 3.2M $REN: ~ $720K - Bought in June 2020 on Binance.
- 685K $KNC: ~ $625K - Purchased in January 2019. Added to holdings in August 2020 from Binance.
- 892K $ENG: ~ $507K - Bought in January 2019.
- 899K $HOT: ~ $412K - Purchased in February 2019 from Binance.

Whale #3 first purchased LEND as early as January 2019. He has continued to purchase much more LEND during Q2/Q3 of 2020. His entire net worth sits at around $58.2 million with the majority sitting in ETH ($29 million).

Additionally, this whale does have any assets in DeFi lending or farming.

#4 Whale 

Rich List: 15th  
Wallet Address: link
LEND Holdings: 4.383M/ $1.89M 
Total LEND Supply: 0.3372% 

Other notable DeFi Holdings: 

- 75.9M $KCS: ~ $63M - Bought in April 2020.
- 56.9K $ETH: ~ $19.4M - 
- 20.19M $OCEAN: ~ $5.46M - Purchased September 2020.
- 1.8B $DX: ~ $3.57M - Bought as early as June 2020 on KuCoin. Has been loading up recently in September 2020.
- 9.67M $CRPT: ~ $2.233M - First bought in April 2020 and recently added to his holdings in September 2020.
- 43M $DRGN: ~ $2M - Bought in April 2020 and recently loaded up on holdings in September 2020.
- 76M $FTM: ~ $1.9M - Purchased April 2020.
- 57B $KICK: ~ $1.18M - First bought in May 2020 but started to aggressively buy more in September 2020.
- 7.7M $ENJ: ~ $1.1MK - First purchased in April 2020 and then again in June 2020.
- 1.1M $AMPL: ~ $813K - Bought late September on KuCoin.
- 1.5K $MKR: ~ $811K - Bought April 2020.
- 196M $MTC: ~ $602K - Purchased April 2020 and loaded up in late September 2020.
- 987M $MTV: ~ $352K - Bought in September 2020.

Whale #4 first purchased his LEND in April 2020. He recently started to remove some in September 2020 but has since purchased more on KuCoin. He is a serious whale with a total net worth of $88.9 million.

Interestingly, this whale has quite substantial holdings in relatively unknown coins such as Dragon Token, Medial Token, and Fantom Token.

#5 Whale 

Rich List: 16th  
Wallet Address: link
LEND Holdings: 4.1M/ $1.77M
Total LEND Supply: 0.3159% 

Other notable DeFi Holdings: 

- 4M $USDT: ~ $4M - 
- 350K $cETH: ~ $2.38M -
- 10K $PICKLE: ~ $185K - 

Whale #5 purchased his LEND quite recently in early October 2020. His total assets are valued at $8.3 million with around $801K debt. The majority of his holdings are in the stablecoin USDT but he owns a substantial amount of LEND.

Interestingly, Whale #5 is the first whale on this list to be involved in DeFi farming/lending. He has a total of $2.38M in cETH after lending 7000 ETH to Compound. As a result, he is also farming COMP. 

Additionally, Whale #5 has $801K debt which is taken from borrowing UNI.

#6 Whale 

Rich List: 30th  
Wallet Address: link
LEND Holdings: 1.76M/ $763K 
Total LEND Supply: 0.1358% 

Other notable DeFi Holdings: 

- 15.5M $HXRO: ~ $3.2M - First purchased in April 2019. Has slowly been selling off tokens since July 2020.
- 136K $HT: ~ $616K - Bought on Huobi in April 2020.
- 61.1K $BAND: ~ $323K - Bought in October 2020 on Binance.

Whale #6 first purchased LEND in July 2020 from Binance and recently increased his holdings. Interestingly, the majority of this whale’s holdings lie in an unknown token called HXRO. On top of this, he owns some HT and Band Token.

Whale #6 has zero stablecoins and is not lending/farming in DeFi.

#7 Whale 

Rich List: 34th  
Wallet Address: link
LEND Holdings: 1.6M/ $691.7K 
Total LEND Supply: 0.1231% 

Other notable DeFi Holdings: 

- 2.9K $ETH: ~ $1M - 
- 493K $USDC: ~ $493K - Bought in October 2020.

Whale #7 first purchased LEND in July 2020. This is quite a boring whale with not much to show other than his LEND and ETH holdings.

#8 Whale 

Rich List: 36th  
Wallet Address: link
LEND Holdings: 1.54M/ $669.2K 
Total LEND Supply: 0.1191% 

Other notable DeFi Holdings: 

- 97K $ANT: ~ $328K - First purchased in May 2018 on Bittrex. He recently purchased some more in July 2020 on 1inch.exchange.
- 3.5M $MANA: ~ $252K - First purchased on Bittrex in February 2019. He most recently purchased more in June 2020 on Binance.
- 6.6K $BAND: ~ $35K - Bought in August 2020.

Whale #8 has a total net worth of $1.2 million, the majority of which is held in LEND. He bought his LEND in June 2020 on Binance. On top of this, Whale #8 owns a substantial holding in both ANT and MANA. 

Whale #8 also has nothing in DefI lending/farming.

#9 Whale 

Rich List: 37th  
Wallet Address: link
LEND Holdings: 1.48M/ $643.5K 
Total LEND Supply: 0.1145% 

Other notable DeFi Holdings: 

- 15.6K $ETH: ~ $5.3M - 
- 913K $KNC: ~ $833K - Bought as early as November 2017 on Binance. Last purchased as recently as July 2020.
- 17M $DIP: ~ $668K - Purchased in December 2018. 
- 43.9K $REPv2: ~ $573K - Bought August 2020.
- 15.2K $NMR: ~ $412K - Purchased as early as July 2017. 
- 517 $MKR: ~ $268K - First purchased November 2018. Recently bought more in July 2020 on FTX Exchange.
- 502K $ZRX: ~ $175K - Bought on Poloniex in September 2017.

Whale #9 first bought his LEND in July 2020. Whale #9 has tokens in his wallet that he purchased as far back as 2017 and would have greatly benefitted from holding these coins for so long. In total, he has a net worth of $9.4 million. 

#10 Whale 

Rich List: 47th  
Wallet Address: link
LEND Holdings: 846K/ $364K 
Total LEND Supply: 0.0.0651% 

Other notable DeFi Holdings: 

- 12.3K $STAKE: ~ $137.2K - Bought July 2020.
- 7K $LINK: ~ $61.8K - 
- 3.6M $KAI: ~ $52K - Bought in late September 2020.

Whale #10 bought is LEND in July 2020. The whale just has a total net worth of around $868 with $137 of this in the unknown STAKE token. 


The LEND whales are less impressive than other Whales in different tokens that I have covered. Nevertheless, there are still are some mega-whales amongst this bunch - in particular, whale 3 + 4.

Quite surprisingly, the majority of these whales are not interested in DeFi lending or farming with only 1 whale being involved in this. Additionally, I did not see many of these whales holding much Ethereum. 

One final observation is the fact that lots of these whales do not even own any stablecoin assets - this is quite unusual to see in whale wallet analysis.


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