LDO Sold Off by Multiple Institutions? See Investment Portfolio Changes in April for Some VCs and Smart Money
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LDO Sold Off by Multiple Institutions? See Investment Portfolio Changes in April for Some VCs and Smart Money
In April, some VCs and smart money made significant changes to their portfolios.
Navigating Web3 tides with focused insightsText: ThorHartvigsen
Translation: Felix, PANews
In April, some VCs and smart money made significant portfolio changes. Below is a summary of everything that happened over the past 30 days:
Andrew Kang
On April 4, bought 800,000 ARB at $1.25 (approximately $1 million).
On April 5, bought 1.51 million ARB at $1.23 (approximately $1.8573 million).
On April 19, sold all ARB holdings at an average price of $1.55.
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Profit: $723,000
Andrew closed all long/short positions on GMX, KWENTA, and MUX.
Amber Group
From April 8 to April 18, purchased 1.63 million LDO (approximately $3.23 million) on Binance.
Amber currently holds a total of 8.1 million LDO (approximately $16 million), most of which were acquired between January and April this year.
(Historically, Amber has been trading LDO since 2022.)
Other Amber activities in April:
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Purchased 2.87 million DYDX (approximately $7 million) from March 30 to April 24.
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Sold 28,800 GMX (approximately $2.1 million) in April, originally bought in January and February.
Blockchain Capital
Blockchain Capital appears to have fully exited its $16 million MATIC position on April 27, transferring all MATIC to Coinbase. The fund was one of the largest holders of MATIC and had been consistently buying MATIC throughout 2021 and 2022.
The fund also sold all of its RPL holdings on April 11 at around $47 (approximately $5.7 million). These RPL tokens were originally purchased on April 15, 2022, at $33.
Blockchain Capital’s current major holdings include:
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$40 million in ETH
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$16 million in AAVE
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$13 million in UNI
ParaFi Capital
On April 22, transferred out 18,000 cbETH (approximately $36 million) from Coinbase.
On May 2, sold 1,206 MKR (approximately $844,000).
ParaFi has been selling MKR throughout 2023 but still has millions of dollars worth of MKR locked in MakerDAO governance.
CMS Holdings
Between February and April, CMS received 785,000 DYDX (approximately $1.9 million), which were subsequently transferred to Binance (likely sold).
CMS currently still holds 1.76 million DYDX (approximately $4.3 million).
Other Activities in April
LDO sold by multiple institutions:
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Dragonfly Capital: Sold 652,000 LDO at approximately $2.4 (around $1.5 million).
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Multicoin Capital: Receives 370,000 LDO monthly and immediately transfers them to Coinbase (likely for sale).
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Blockchain Capital: As shown in the image below, Blockchain Capital purchased 1.54 million LDO (approximately $2.58 million) last year using 1,000 ETH. On April 11, it sold the LDO for 1,871 ETH (approximately $3.58 million), realizing a profit of $1 million.
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Thor Hartvigsen
