<aside> 📚 Nansen is a fantastic tool for on chain analysis however also quite expensive for the average investor. I won’t go in depth with all of the features as there is a LOT. Instead I’ll showcase how I used Nansen for this research.
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Nansen has a ‘Wallet Profiler’ which is very extensive and great when paired up with Debank. For my research on the largest token holders of protocols I would use Debank to see the e.g. top stakers of GMX and paste the wallets into Nansen here to see who they belong to.
In this example Arthur Hayes came up as one of the wallets.
This is the feature I have used the most, to identify new labeled wallets from either private investors or crypto funds.
Another feature that’s super useful is token god mode which lets you get a deep insight into the metrics and flows of specific tokens from multiple different chains. The tabs ‘Token Distribution’ and ‘Smart Money’ were the two I used the most.
Token distribution: See the top wallets holding the token with the adresses labeled.
Wallets labeled as ‘smart money’ i.e. notable traders, funds etc. and their token holdings. A strategy I used was finding VC wallets through the smart wallet dashboards for different tokens, then copying the address and pasting it into Debank to see which defi protocols the wallet has deposited into and which wallets it has interacted with historically.
