Whale Wallet Analysis - YFV 

Whale Wallet Analysis - YFV 

By D3F1 | DeFi Box | 9 Sep 2020


Howdy guys!

Back with another Whale Wallet Analysis for you guys on YFV. I hope this brings some insights to where you might want to position yourself after seeing what the whales are up to.

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

The YFV rich list is accessible on the Etherscan page for anyone to see. I have ignored all the contract addresses or any exchanges that might have holdings. Additionally, I have ignored any whales that just own YFV because I am only interested in OTHER tokens they may be holding at the same time.

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

#1 Whale 

Rich List: 15th 
Wallet Address: link
YFV Holdings: 37K/ $784K USD
Total YFV Supply: 1.0990% 

Other notable DeFi Holdings: 

- 50.42 $ULU: ~ $29K USD - Bought the Universal Liquidity token in September 2020.
- 3.88 $ETH: ~ $1.3K USD - Everybody needs ETH to cover GAS fees. 

Whale #1 might not own too many DeFi holdings in his wallet, but in reality, he has a total of around $9 million in Liquidity Pools. His largest liquidity provision is the wBTC/renBTC/YFV pool - presumably for farming YFV. On top of this, he owns a handful of farms all based around YFV including wETH/YFV, KNC/YVF, and BAT/YFV.

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#2 Whale 

Rich List: 18th 
Wallet Address: link
YFV Holdings: 24.2K/ $514K USD
Total YFV Supply: 0.72% 

Other notable DeFi Holdings: 

- 591K $AMPL: ~ $403K USD - Quite early to AMPL as he first invested in April 2020 through Uniswap.
- 89.3K $USDC: ~ $89.8K USD - USDC is a stablecoin. He purchased this stablecoin just in August 2020.
- 2000 $YAMv2: ~ $49,250K USD - Presumably caught in the YAM hype and is holding through the turbulence.
- 48.7 $ETH: ~ $16K USD - Everybody needs ETH to cover GAS fees. 

Whale #2 has the majority of his holdings in YFV. However, he also owns a similar number of AMPL tokens as he aims to take advantage of the recent DeFi hype. On top of this, Whale #2 also has over $240K in Liquidity Pools, the majority of which lies in a BAL/YFV pool. 

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#3 Whale 

Rich List: 21st 
Wallet Address: link
YFV Holdings: 21.5K/ $456K USD
Total YFV Supply: 0.6398% 

Other notable DeFi Holdings: 

- 322.85 $YFII: ~ $1.1M USD - First in this list to own the other frocks of YFV. Bought these in late August 2020.
-42.43K $YAMv2: ~ $1M USD - Presumably caught up int he YAM Fiasco.
- 746.7K $LEND: ~ $414.9K USD - Bought these LEND in early August.
- 380.9K $BZRX: ~ $193K USD - Started to invest in the bZx protocol toward the end of August.
- 1M $HAKKA: ~ $186K USD - Bought into HAKKA late August.

Whale #3 is the first whale that I have come across that owns any of the other forks of YFI This whale also has over $1.2 million in liquidity pools that are on Balancer. On Balancer, he has $1.2 million locked in the REN/YFV.

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#4 Whale 

Rich List: 27th 
Wallet Address: link
YFV Holdings: 14.1K/ $300K USD
Total YFV Supply: 0.4215% 

Other notable DeFi Holdings: 

- 234K $cETH: ~ $1.6M USD - Lent his ETH to Compound to earn interest. He is earning a total of 0.28%. Lent in July 2020.
- 536 $ETH: ~ $183K USD - 
- 22.7K $CVP: ~ $132K USD - Invested into this Concentrated Voting Power token in early September 2020 through Uniswap.

Whale #4 is interesting because his balance does not show his entire holdings due to the fact that lots of it are locked away in DeFi protocols. As mentioned, he already has around $1.6 million locked into Compound through cETH. His actual portfolio is much larger as he has a total DeFi net worth of  $10.5 million.

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The majority of his wealth is in YFI that has been lent to Aave. This totals around $5 million and he earns around 0.07% on this. He also has around $4 million locked in Liquidity Pools through Uniswap and Balancer. The majority of his liquidity provision is through YAMv2 in which he has $1.8 million.

Additionally, Whale #4 also has around $755K million in debt as he borrowed BAT.

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#5 Whale 

Rich List: 30th 
Wallet Address: link
YFV Holdings: 11.48K/ $243K USD
Total YFV Supply: 0.3412% 

Other notable DeFi Holdings: 

- 950 $COMP: ~ $165K USD - 
- 522 $ETH: ~ $178K USD - 

Whale #5’s holdings also do not show the entire picture of his portfolio. In total, he has around $3.5 million locked away in DeFi. The majority of this wealth is deposited within Liquidity Pools where he is farming YFV. He has $1.6 million deposited in KNC/YFV, $745K in WBTC/renBTC/YVF, and around $400K in WETH/YVF.

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#6 Whale 

Rich List: 31st 
Wallet Address: link
YFV Holdings: 10.9K/ $231K USD
Total YFV Supply: 0.3240% 

Other notable DeFi Holdings: 

- 1.9K $aWBTC: ~ $19.2M USD - WBTC that is lent to the Aave lending platform.
- 111K $SUSHI: ~ $301K USD - Bought Sushi toward the end of August and has held during the mega dump from the founders.
- 187K $TUSD: ~ $187K USD - Bought a bunch of TUSD in late August and used lots of it to buy up YFV.

Whale #6 has to be considered as a MEGA whale with a total of $72 million in assets. His largest holding is in WBTC which he has lent to Aave. In addition to this, he has more WBTC in the Maker Vault, he also has $10 million in DAI deposited into Compound. 

On top of these holdings, Whale #6 also has almost $20 million in Liquidity Pools. $15 million of this is locked in LINK/ETH on Uniswap. 

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Interestingly, Whale #6 owns a lot of debt which totals around $10 million. $9 million of this was borrowed from a Maker Vault (presumably in DAI). Additionally, he has borrowed almost $700K in LINK from Aave and $300k in BAL.

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#7 Whale 

Rich List: 32nd
Wallet Address: link
YFV Holdings: 10.477K/ $222K USD
Total YFV Supply: 0.3112% 

Other notable DeFi Holdings: 

- 1.39M $USDT: ~ $1.38M USD - Started to buy Tether from Binance in March 2020. Has used this to farm other DeFi tokens over time.
- 62.82 $YFI: ~ $1.368M USD - Bought YFI in July 2020. 
- 50.6 $renBTC: ~ $515K USD - Started locking BTC in REN during August 2020.
- 48.16 $WBTC: ~ $493K USD - Wrapped Bitcoin

Whale #7 is a smaller scale whale but still owns over $6.2 million in total assets with zero debt. Interestingly, this is only the second whale on this list that has an interest in other YFI forks as he owns YFI (the original code that was forked). 

Whale #7 also has around $2 million locked in liquidity pools with the majority of this being in YFI/ETH on Uniswap.

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#8 Whale 

Rich List: 38th 
Wallet Address: link
YFV Holdings: 5.5K/ $116K USD
Total YFV Supply: 0.1638% 

Other notable DeFi Holdings: 
- 336 $WETH: ~ $115K USD - 

Whale #8 is a much smaller fish than everybody else on this list but he still owns $700K in total assets. His holdings are very small but Whale #8 owns $550K trapped in liquidity pools. The majority of this is in the SUSHI/ETH pool on Uniswap.

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#9 Whale 

Rich List: 41st
Wallet Address: link
YFV Holdings: 4.271K/ $90.5K USD
Total YFV Supply: 0.1269% 

Other notable DeFi Holdings: 
- 288 $aETH: ~ $98K USD - Has lent Ethereum to the Aave platform to earn interest. Started to lend in April 2020. 
- 92.4K $aLEND: ~ $51K USD - Lent LEND to Aave in April 2020.
- 3.5K $aLINK: ~ $41.7K USD - Lent LINK to Aave in April 2020.

Whale #9 is also quite small in comparison as he owns a total of $350K in DeFi. Interestingly, this Whale does not Farm and, instead, chose to deposit the majority of his holdings onto the Aave platform. 

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#10 Whale 

Rich List: 43rd 
Wallet Address: link
YFV Holdings: 4.14K/ $87.8K USD
Total YFV Supply: 0.1231% 

Other notable DeFi Holdings: 

- 496K $KNC: ~ $583K USD - Bought the holdings he currently has in KNC in September 2020.
- 88.9 $ETH: ~ $30.6K USD -

Whale #10 has a total net worth of $2.1 million in DeFi assets - the majority of which is held in KNC. He is also farming KNC through the Balancer pool in which he has deposited around $1.4 million in KNC/YFV.

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Conclusion

YFV whales are quite interesting. When I started going through the top holders, I suspected that the majority of them would own YFI or YFII - it seems that this is not the case. Most of the YFV whales do not even hold small amounts of YFI which is quite surprising.

In addition to this, some of these whales are large scale farmers with millions locked into liquidity pools to keep their farms running. The majority of farmers here are YFV farmers. What is quite interesting is that the further down the list we head, the smaller the whales become. It shows that, on balance, the YFV token is actually quite well distributed and not held in the hands of just a few. 


D3F1
D3F1

Yet another defi fan


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