Peering into a Thousand Solana "Smart Wallets": Who's Raking in the Profits and What Can We Learn?
TechFlow Selected TechFlow Selected
Peering into a Thousand Solana "Smart Wallets": Who's Raking in the Profits and What Can We Learn?
Solana doesn't believe in betting everything on a single outcome; win rate is the core element in PvP, and controlling drawdown is the pass to becoming a top-tier player.
Navigating Web3 tides with focused insightsAuthor: Nan Zhi, Odaily Planet Daily
Recently, trading Meme coins within the Solana ecosystem has become increasingly difficult, and the number of "golden dogs" (high-profit traders) has declined. Yet in this challenging environment, a group of “smart wallets” continue to generate massive profits. Which addresses are still printing money? What are their trading characteristics? And what metrics are key to success?
In this article, Odaily compiled and analyzed data from the top 40 holder addresses of 27 popular, high-market-cap Meme tokens—totaling 1,080 wallet addresses—to answer these questions. Specifically:
-
Market cap: greater than $1 million, including a few over $10 million (rocky) and over $100 million (BILLY);
-
Top-tier addresses: the top 40 holders for each token, each having made thousands to hundreds of thousands of dollars in profit on their respective tokens;
-
Data sources: primarily from GMGN, with some win rate data from cielo.
Preprocessing & Scoring Algorithm
This section details the sample processing methods, statistical dimensions, and scoring algorithm. Readers interested only in conclusions may skip directly to the next section.
Preprocessing
The following steps were applied to the 1,080 top-tier wallet addresses:
-
Removed LP addresses and exchange addresses (e.g., MEXC, Gate.io);
-
Removed duplicate addresses (same address appearing in multiple high-market-cap token leaderboards);
-
Removed addresses that had not purchased any tokens in the past 30 days;
-
Removed addresses with absolute 30-day profit less than $10 (due to significant conflict with later evaluation metrics, temporarily excluded);
-
Excluded addresses whose win rates could not be tracked by both GMGN and cielo.
After processing, 541 wallet addresses remained, evaluated across the following dimensions:
Statistical Dimensions
Wallets were assessed based on win rate, stability, and profitability using six key metrics:
-
30-day wallet win rate;
-
Average profit per buy (30-day profit ÷ number of buys in 30 days);
-
Average profit per sell (30-day profit ÷ number of sells in 30 days);
-
Total profit amount;
-
Absolute value of the top three profits as a percentage of total profit (higher ratio indicates more unstable earnings, thus lower score; may also indicate one highly profitable trade offsetting many losing ones);
-
Absolute value of the top three losses as a percentage of total profit (higher ratio indicates larger drawdowns, thus lower score).
Scoring Methodology
Z-Score (standard score) was used to normalize each of the six metrics into the [0, 1] range. Therefore, the maximum possible composite score is 6.
Who’s Still Making Big Profits?
After applying the above methodology, the highest score achieved was 4.85. This address executed only 42 trades in the past 30 days, with a 100% win rate, $106,000 in 30-day profit, $436,000 in total profit, and its three largest losses totaling just $8,000.
The lowest score was 1.1. This address traded 29 times in 30 days, with a 0% win rate, resulting in a $38,000 loss. Interestingly, its top three winning trades totaled $40,000, but its three largest losses amounted to $38,000.
Characteristics of the Top 10 Traders
Averaging the data from the top 10 highest-scoring addresses yields the following:
-
30-day wallet win rate: 63.55% (average of next 90: 63.58%)
-
Average profit per buy: $4,717 (next 90 average: $623)
-
Average profit per sell: $4,090 (next 90 average: $628)
-
Total profit: $980,000 (next 90 average: $279,000);
-
Top three profits as % of total profit: 90.8% (next 90 average: 90.67%)
-
Top three losses as % of total profit: 11.07% (next 90 average: 11.62%)
It can be concluded that the top 100 performers are closely matched in skill, with the top 10 holding only a slight edge in drawdown control. The main reason for lower scores among ranks 11–100 lies in smaller average trade sizes, particularly reflected in metrics 2 and 3.
The top 10 addresses are:
6FNbu3i6vpigXMatC6SyWKibUAdJyyX8nM8WDtZCNcEz
6xUL8CUfV1fzd3UQoDBs7agWNXpwyE5q56css1wHNFFU
4J5rDTvRbzjuKkB4B9rvNEvDz6f1BEBzUVT5mdctKHoT
9v6RGY46wf672PtpYMxCJ1nvrVTrukUDn1AjE634rvCf
GpNbukV5nggkJfsEEbKrJaZkdgYcNWCAaD91Mi4MmGQi
DNfuF1L62WWyW3pNakVkyGGFzVVhj4Yr52jSmdTyeBHm
FTg1gqW7vPm4kdU1LPM7JJnizbgPdRDy2PitKw6mY27j
69ngexW9UkgRp5KFjLpaK9XNSCxUFmps6jYmqhK3q6m9
7XgBprwnRfFHd287pnNQj4AZ6Yb9QE5pJ6ChQ3zhsGpJ
4Be9CvxqHW6BYiRAxW9Q3xu1ycTMWaL5z8NX4HR3ha7t
Where Do Ranks 101–200 Fall Short?
Average data for wallet scores ranked 101–200:
-
30-day wallet win rate: 45%
-
Average profit per buy: $317
-
Average profit per sell: $425
-
Total profit: $129,000
-
Top three profits as % of total profit: 145%
-
Top three losses as % of total profit: 25%
Clearly, there are substantial gaps across all six metrics. The most pronounced differences lie in metric 2 (profit per buy) and metric 6 (loss severity), suggesting that lower-ranked traders tend to buy aggressively despite low win rates, leading to insufficient profits and larger drawdowns.
What Did the Bottom 10 Do Wrong?
-
30-day wallet win rate: 17%
-
Average profit per buy: -$10,797
-
Average profit per sell: -$23,547
-
Total profit: -$146,000
-
Top three profits as % of total profit: 2,092%
-
Top three losses as % of total profit: 642%
Notably, among the ten lowest-scoring addresses, three recorded top-three wins of $694,000, $403,000, and $150,000 respectively—but their overall net profits were extremely low.
What’s the Key to Success?
In trading, it's often hard to balance win rate, risk-reward ratio, and drawdown control. Which factor most effectively boosts account growth in Meme trading?
Pearson correlation coefficients were used to analyze the relationship between various metrics and final scores. Key findings:
-
Win rate shows the strongest correlation with score (0.610), indicating that on Solana’s Meme battlefield, maintaining a high win rate matters more than holding out for big gains (“diamond hands” fail).
-
Second strongest correlation is maximum loss ratio (-0.495), highlighting that drawdown control is critical—traders must manage position size or cut losses promptly (all-in gamblers likely end up in the bottom 10).
-
All other metrics show only weak correlation with final score.
-
Number of trades shows zero correlation with score, meaning whether one trades aggressively or sparingly makes little difference (suggesting participation in most pump.fun tokens is akin to dice-rolling, aligning with the law of large numbers).
Conclusion
In summary, on Solana’s Meme PvP battlefield, those who exit quickly and lose less come out ahead.
Odaily reminds readers that Meme investing carries high risk. This article is for informational purposes only. Investment decisions and strategies should be made independently by investors.
Appendix (Top 100 Smart Money Addresses)
6FNbu3i6vpigXMatC6SyWKibUAdJyyX8nM8WDtZCNcEz
6xUL8CUfV1fzd3UQoDBs7agWNXpwyE5q56css1wHNFFU
4J5rDTvRbzjuKkB4B9rvNEvDz6f1BEBzUVT5mdctKHoT
9v6RGY46wf672PtpYMxCJ1nvrVTrukUDn1AjE634rvCf
GpNbukV5nggkJfsEEbKrJaZkdgYcNWCAaD91Mi4MmGQi
DNfuF1L62WWyW3pNakVkyGGFzVVhj4Yr52jSmdTyeBHm
FTg1gqW7vPm4kdU1LPM7JJnizbgPdRDy2PitKw6mY27j
69ngexW9UkgRp5KFjLpaK9XNSCxUFmps6jYmqhK3q6m9
7XgBprwnRfFHd287pnNQj4AZ6Yb9QE5pJ6ChQ3zhsGpJ
4Be9CvxqHW6BYiRAxW9Q3xu1ycTMWaL5z8NX4HR3ha7t
5wPWthsivjuGi43WbTo5LdSjDTJ8pXSSHyfXWVojJjUF
27nKnCT3DD5NLJw3xbq3KDL3thx6KTe6DmrRCbi2uszE
2zc9rfAQybucpfQxdgW9otWBFnqxDoz5Fva1vD2wmaha
6HRZ8qLqmAuJ3anksqAEHLqwN7akoCU1ZjihQyoQbK64
ENRayX3P4At1eBj87TZJvZT1JVCAykwwYB5SjKT6Y2ZA
D49JMtrnenWigKNWxrACtyXfybZLjKsufXvdcD1ng8BA
DVFpA1mKBWSEuyuiWXQEdrhkyZ8mSPM2Fe7y1KhbbqxT
7HUpxcqNkUF2sGsNcTPMTWTVXok9mUiG8QcRJHM61jys
8deJ9xeUvXSJwicYptA9mHsU2rN2pDx37KWzkDkEXhU6
CeoqFgsd6sob3S1Ka7qDnXj1e76MweXx2cwUrjVqmRmv
6p8cxa2G17qaJf4LnoioyQ2vjmfaY91hc2cYghQiovXf
9NmtJ6MpuH8mzNnbQHvwaVpKbs3T51nr6VMFRTshNCMS
8r5Y6gRPBLoiT4jSGgpMwPPn4PitdSuKqDGPUx2aU5Wh
79CmfobG1sLjUZRyT9nUzfwy5xcJuWETMqTMVxFqNFwh
6AtHTM75tnpvazEwMBmd2spbxcQFTBqrNxNKUvTWxUMp
A4vCNjNJxs6UxsHT99oNkNZaoLBBYS7ZF4RwaPwZ7PKp
8yJFWmVTQq69p6VJxGwpzW7ii7c5J9GRAtHCNMMQPydj
EKWkKPRGEQzTHW32j7i4hbtzoW6s3ZGAfL7T8RkSvrhJ
FfCmMs68EYGkd3mnMf7T7uLRxEh5z1cY7TVpqawQxCEF
HbzEtahBdLk61kCP9wgqEecvP5oebFaqWHCANJupYM8Q
Ffb9SFFAFgBhiEU1XUj3r4JEz5Rva7SUfEAJWFinpUau
Eb5u4wu1bjjyeytxiuatuqNGGQLFFHjcW9rLeTiGzrMf
HS8BjVNAT4m36hLnD3GZvc74Y8iMVkx7pYhiMSDv1pWm
AVAZvHLR2PcWpDf8BXY4rVxNHYRBytycHkcB5z5QNXYm
12L63BUpPKi8ZDdD1Kj5dsyPcozjAc1vTQpVwLbBa19H
6YQSZp2mnp8BUMyMkT7MPg33YHXtnJVBPvS8wNStiF6H
9ru9BSVFSUqSRQFwdjjnkzQGf9yUdpRTjpjXPKc4BvxX
4mbEf27m7XVGSuFpiAQiRxCyX5Epu2qd2gevY2joPmQk
Cgzgw9agWXSJPHPWXFoM4W5iKeUi1dNVREfq5u86XMKx
ExCsisSuZuXmnuPMNVUiR7zTejfN3kmZdVidSExQE1vc
BrFcBzjdb6iWgnogjaDws8CxnB6ApWtacCtUtsgzEHCf
9oTsfYWULoX9V9X1xJosKquiv2RUxia6XTLZHn6aa5BN
5mta8pCqi2Zm3kFWLyMXseZtAFpHd5m2vHLh7N7hWyqX
3kebnKw7cPdSkLRfiMEALyZJGZ4wdiSRvmoN4rD1yPzV
8Ga6pH8cpxspHEeF9Q3nc6BTgHCxnMwMJvvvecErLux7
Bgm3tCLEcUQweuDcYARyoXioLCQQ3pdMYLMoneKdKP2m
9vuf62XM3nf1TqceYYfd5RUawZ1rvmVYJJRmhc5e9Lgt
HiJ46Rrgdx7hmsgaibmi9LEM7U5nsHmVD22rngwk4Udc
7UiWFNRmbwFph7247WTzfxGHqELDigqpsiysb3y3tKQf
E8hK8YbE8iBPywf4Q9TahgAT42Az2jgJL6uCHcpkP196
ARGivPcb6uapd5N3EFMAzpWDZ4wRxriMH1kkdeFHYUvS
5cN5vAuXpRfE56QJTKFxw7m3UkuVVcZMjTwGb2DQZkrG
DKwybycDSWidrHfpMjaahUsT1Yid3kig86ncXPAGe7AU
EceAXcGP69ZKCnXougTSpuHoGrLZT7e9hkxXmDPx8Qcd
GYGazbafxrSffoFF6xPUwVmqnV8CziwkD89KijUorhHi
H6azfrDwWFmQav8UMLiofEi73q6uZVv9geNqpy6VQXV9
ErG9AkyQQvf7j8rha71dtba2zxqmEfPfc819TMzAbnWk
B4M9RqyTF9jF5Zb8ZG9ZeLkvWXCeKMAq6TdE9L4NqUr2
HkiCryXaSgvYPHenUv2YYfcoYd8HcNgUUDKZdScpyP6Z
99qwBygWc1nPo9AvKgLbKDXxSkdmvy5CXTNk5CWVwzGT
5B3wpkaPZAKSZpYxmyMx5xNpeRZy67WdFNGQJToziAHP
DosUh54Scj73jcPepYmiFPAzmn3oQYyd94FZqwNmBeGC
Hp7fx5PoK6jg7brkJYiQ1fdAR73fZpwtFZCuUPTY8pVg
ArSJoBSqugxk8s1ub56YENhDvHXneCnfXJujzpugkCbT
Et45ydaesDDBN1zjXA9m7iTqgatTnxL6MrMgtWNfCbuX
8A4yM724ep3dqv9GQ7Rx3B9QcV8Tjc2H1toHAnEEmAeK
JDkA2zGDoL184ZCxkETmZMUucZve3S9iCpCygK7X383m
7dMyG1PVNpqz9FpxyGAg7kkhVQmQ9zUJHwQw6RHs4vyo
Eq38QQAc2auEEoXKx2iV7sXhGzmUaVMwf2SzHmw6cg4u
7fLjm9dYn9chMXX58Au2H1p3cwoTvh3Ri3erm1bxWXk2
HF9G11htJrFUGD5cpj8t9Fks7DZ4eJy78YqmrAZquydg
4bUb5YV7zcvabHsPd7NTpvMmbdMJkTwAtvY269PjNFh8
FvTBarKFhrnhL9Q55bSJnMmAdXisayUb5u96eLejhMF9
4ZCo5NLb1KxRymHaWh341WidGF3nYqBGanhHoq4HUGaf
CuEeVczBi4ahyc6kwDodA24CzLVbk5wWUaMnL21da8Ws
8MaVa9kdt3NW4Q5HyNAm1X5LbR8PQRVDc1W8NMVK88D5
CPydqKcEEeKTR6wt3L15G8S5Ea4bxjS2vvjiW9vw1UwK
34ZEH778zL8ctkLwxxERLX5ZnUu6MuFyX9CWrs8kucMw
6CHhn9g1F7msGdekeJTtAcC6EsaEeHBCn6xz6hKpqhsQ
CMcHRygKpNG2Jx83T1cTiqAvg55mYXv6uSwjhFzLwQFc
4q7rNU1nRUWY14vaLPpzpc2C756UQE36vaDwphBpLf2s
AgMroLKUzcvHcvS79xDJmg9ZeuvReyvNxTLunyzqh1nZ
FxqnyvqQbqvfzKZ7uNgu3aFfJzD7FPYi4J7foMwYJgMu
Gb8hF3dex5XsDYMFThaCUvLQngshMJbKuU4fc9PjiVp1
6Y9shDFcKwXh16SR1hatzSsWCBQctjY8VCGbyLWY8NFp
DKgvpfttzmJqZXdavDwTxwSVkajibjzJnN2FA99dyciK
Join TechFlow official community to stay tuned
Telegram:https://t.me/TechFlowDaily
X (Twitter):https://x.com/TechFlowPost
X (Twitter) EN:https://x.com/BlockFlow_News
Odaily
