- Binance Funds Acquire Large Amounts of SATS, with the Biggest Winner Transitioning from Ordi to SATS and Profiting 260 Million RMB
From on-chain data, it is evident that the funds acquiring SATS are very strong. In less than a day since its launch on Binance, it has captured 19.17% of the chips, worth about 200 million US dollars. However, SATS has not experienced a significant decline, even after a 143% increase following its Binance listing. Within less than 24 hours, the spot trading volume has reached 400 million US dollars.
Looking at the distribution of chips, SATS has a more widespread holding, with around 25% held within exchanges. In comparison, Ordi's volume on exchanges has already exceeded 60%. From the on-chain holding addresses, SATS has 45,893 holding addresses, while Ordi only has 13,146 holding addresses.
SATS also has a clear characteristic of having relatively large individual holdings. Among the top 10 holding addresses, 7 wallets belong to individual addresses, some of which are from minting, and some are from purchases. However, in terms of profits, it is much lower than Ordi. Ordi was listed on OKEx in May, and the profits from minting were several thousand times higher (if memory serves correctly). The cost of SATS has some differences, roughly between 40 to 100 times.
Binance Recharge Address Statistics
The above is a ranking of the top 10 addresses that have recharged into Binance. It can be seen that the largest address has recharged 65 trillion SATS, worth 36 million US dollars. The second address has recharged 17 trillion, also a considerable amount. The third to tenth addresses all have significant gains. The largest holding that remains inactive on the chain is 15 trillion, exceeding the quantity of the third address.
- Analysis of the Biggest Winner
The biggest player in SATS is this individual, who owns 65 trillion SATS. After the launch on Binance, they sold all of it for a profit, worth 36 million US dollars, approximately 260 million RMB.
The SATS in this address was transferred in on December 12th. At first glance, it seemed like insider trading, but upon investigation, it was not the case. The SATS in this address were transferred from 8 addresses. Investigating these 8 addresses revealed that they are controlled by the same person, as they exhibited similar operational behaviors. The history of transferring SATS was close in time, manner, and the tokens operated were also similar. The SATS in these 8 addresses were mostly purchased in July, indicating that this was an individual's behavior.
During the investigation, it was also found that this large holder had nearly 1 million Ordi and sold them all on Gate on May 12th, at a price of 10 to 12 dollars, worth tens of millions of US dollars. It is speculated that they made profits of at least 5 million US dollars or more. Therefore, it is roughly estimated that this large holder made several hundred million US dollars from Ordi. Then, in July, they bought a large amount of SATS and made a profit of over 36 million US dollars, achieving a significant leap in wealth.
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