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Ascending the NFT Ranks: A Spotlight on Top Wallets and Their Strategies
Key Takeaways
12 min read
  • The NFT Profit Leaderboard ranks wallets based on their total realized PnL for the latest week. For the week of April 23, 2023 when report was written, many profitable NFT traders are trading collections that involve Otherside Koda, Otherside Vessels, Otherdeed Expanded, Otherdeed for Otherside, CaptainZ, HV-MTL, and Nakamigos.
  • Since January 2023, there has been a steady decline in the average number of NFT trades, collections bought and sold, and gas consumption. In April 26, 2023, the most active NFT traders was justaboredchad.eth with 168 trades, across 9 NFT projects purchased and 26.49 ETH total gas spent.
  • Some of the NFT collections that active traders are buying this week include Quirkies Originals, Quirklings, Forgotten Runes Wizards Cult, Night Run by Matto & Thousand Ant, and Forgotten Runes Warriors Guild.
  • A leading indicator for assessing risk in the NFT market is to compare the average PnL in ETH with the ETH price in USD. If the ETH price increases while the average PnL decreases, it usually indicates a risk-off period. On the other hand, if the ETH price decreases while the average PnL increases, it usually suggests a risk-on period.


Nansen has labels for over 250 million addresses across more than 10 chains that highlight unique behaviors on-chain. Many of these labels can be further segmented into different sectors covering things such as NFT traders to expert liquidity providers (LPs). Users can explore addresses that are catered to their needs - funds, smart money tracking, whales, corporations, notable public figures and much more. See this page for definitions of Nansen Wallet labels guide and potential use cases.

Among all of Nansen's labels, Smart Money wallet labels are one of the most popular. They consist of addresses that have made good investments in the past, which...