By Nathan Ferguson
Thor Hartvigsen, known as a Copenhagen-based data-driven decentralized finance researcher, has utilized the on-chain analysis instruments of Arkham, DeBank, and Nansen, as well as Watchers, to analyze the 20 biggest crypto funds’ altcoin holdings. The respective entities have more than 1,200 wallets cumulatively.
DeFi Researcher Analyzes Major Venture Capitals and Their Altcoin Holdings
On Twitter, Hartvigsen has shared a thread of posts in which he has pointed toward the eight biggest venture capital companies, their recent investments, as well as the biggest crypto holdings. The analyst pointed out that holdings in altcoins can normally signify resilient investments. Nonetheless, he added, there is no surety that the venture capitals denote smart money as they can usually be entirely reckless.
As per Hartvigsen, the respective information can be utilized to countertrade venture capital platforms or to detect potential trades from the currently alive funds. While emphasizing this point, Hartvigsen asserted that the biggest crypto venture capital firm is Jump Trading. The platform has a cumulative balance of up to $3.8B. Ethereum is the top altcoin in Jump Trading’s portfolio. The crypto token has a balance of nearly $3.8B on the platform.
After that, there are COMP, LINK, wBTC, USDC, MATIC, and Shiba Inu on the platform. The balances of these tokens are $14M, $20M, $50M, $50M, $81M, and $328M, respectively. The minor positions ranging from $1M to $10M take into account Lido Finance (LDO), AAVE, MASK, SHZ, SNX, AVAX, and HFT. Hartvigsen is of the view that the respective are just EVM wallets. In his words, there are many wallets, including Solana, wETH, and SOL.
Ethereum Gets a Significant Place on the Analyzed VCs
The 2nd biggest crypto venture capital entity is Wintermute, as its cumulative balance is up to $401M. The venture capital possesses a large number of assets in the form of an Ethereum derivative. The wETH tokens kept by the platform have a valuation of up to $301M. Following this position comes OP with $47M worth. LDO has $22.2M worth.
In addition to this, it has ETH of up to $17M, GALA of $7.5M, FTM of $7.3M, DYDX of $6.6M, BLUR of $6M, HFT of $5.7M, and MATIC of $5.1M. In February, Wintermute successfully made the biggest sale while it traded Ape Coin of almost $4M worth. Paradigma has been placed by Hartvigsen at the 3rd rank with $382M in its balance. Its biggest holding is LDO, with a $195M valuation. MKR and ETH are the other holdings with $22.47M and $166.5M balances.
Starkware, Uniswap, Osmosis, DYDX, Synthetix, and Optimism are also included among its holdings. 5th spot is occupied by a16z as it has $310M in its crypto holdings. The venture capital grasped considerable attention for being influential in the vote conducted by Uniswap for the deployment of BNB Chain through Wormwhole.
The UNI tokens held on a16z equal $257M. The USDC/ETH LP on a16z has a balance of $15.5M, while the USDCOMP token’s balance is nearly $13.7M. Amber Group is the 6th VC with $245M held on it in crypto. Ethereum occupies the top position on it with a valuation of approximately $119M. After that, USDC/USDT token pair accounts for $74M, the FET token has up to $21.5M, and DYDX has $8.3M in its balance.
VC Blockchain Capital is the next, with $87.2M as its cumulative amount in crypto. MATIC is its top crypto token with $21M, while AAVE (with $18.4M), UNI (with $15.7M), ETH (with $11M), and RPL (with $5M) come after it.
The next is Dragonfly Capital, with $90.4M as its total crypto balance. The LDO token occupies the maximum valuation at this VC with $46M, and TON, MATIC, and FXS tokens have lower balances. DeFiance Capital’s crypto balance is nearly $85M, while USDT stablecoin occupies its $57M proportion.