I've using Nansen AI for trading, and I wanted to give you an example of how I'm using it to identify who buys and sells, and what the trend is.

For instance, I just tracked something interesting in the last 24 hours that caught my attention. ETH (or WETH) on Base had massive buying pressure, over 325 million in buys versus 292 million in sells, creating a net inflow of 33.6 million. The price jumped 9.6 percent during this period.

What really stood out was who was doing the buying. Wintermute Market Making was all over this, executing 15 of the top 25 largest buy orders. Their biggest single purchase was 815k for 431 WETH at around 1,892 dollars. They kept buying throughout the entire day at prices ranging from 1,859 to 2,010 dollars. When I checked their current holdings, they are sitting on 4,900 WETH on Base worth about 10 million dollars, plus another 4,700 WETH on Ethereum worth 9.5 million.

Automated trading bots were also heavily involved. One bot alone racked up over 2.5 million in purchases across 10 separate trades. This is not retail FOMO, this is institutional and professional money moving in size.

The interesting part is that smart money wallets, the ones Nansen tracks for historically profitable trading, were mostly quiet. No significant 24 hour balance changes from funds like Coinbase Ventures, Master Ventures, or Kronos Research. They are holding, not accumulating. This tells me the rally is being driven by market makers and institutional flow rather than insider positioning.

When market makers like Wintermute buy this aggressively, it usually means they are either rebalancing inventory for client demand or positioning ahead of expected volume. Either way, it signals real institutional interest in ETH on Base right now.

If you want to track this kind of activity yourself, I have been using Nansen to monitor smart money flows and large trades in real time. You can check it out here: https://www.nansen.ai?ref=cbcc947f6d25c328f02b41af3ee1509b7e4799ed