NFTs without whales are suffering

Your favorite project is fading away and won't come back

Why whales have never been more important 🧵

NFT volume has been low - we know this

The little volume comes mostly from farmers and bid manipulators

But there's been a few projects doing well and It's because of one group of buyers

Let's look into them 👇

While people shouted "NFTs are dead."

Whales continued to place their long-term bets

They are the difference between the projects that continue to bleed vs the ones doing well

Whales are crucial right now for a few reasons:

1. Whales usually buy to hold not flip

Whales aren't worried about weekly changes and a few % gains

They're buying to hold for months or years

NFTs are down because of a lack of liquidity & whales don't have that problem

2. Whales are preventing BendDAO liquidations

We have another big issue in the space (topic for a thread?)

Just look at how nasty the timeline gets when projects dip in price

People are overleveraged and it's very clear.

3. They give other holders confidence

If you give people any reason to sell right now - they will

Holders are nervous and worried about their NFTs

Whales AKA "smart money" help holders feel safe and secure in their investment.

Here's a (potentially) surprising fact:

Azuki and Captainz have actually been losing holders

NFTs are moving from people who are easily affected by short-term price movements to those who are not

From paper hands to diamond hands as they say

Last week the main question was "Are NFTs dead?"

To that I say:

• whales are buying
• believers are buying
• even little old me has bought NFTs over the last week

Whatever you decide - do it with confidence.

A market like this punishes anyone with weak conviction

In the end, it's pretty simple:

People believe whales = smart

So if a smart person buys → I can feel safe buying/holding

The more fear there is in the market

The more important this feeling of safety becomes.

You're a legend for making it to the end 🤝

Follow me @huntersolaire_ for more

& I'd appreciate it if you liked/RT the first tweet: