Here’s How Crypto Personality and VC Portfolios Fared in 2022: Analysis

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Until the very end, 2022 proved to be a difficult year for the cryptocurrency industry and led to the bankruptcy of many companies and investors, but how did the portfolios of top institutions and insiders perform?

Vitalik Buterin, co-founder of Ethereum (ETH) and undisputed leader of the ecosystem, held $1.3 billion in assets on his known wallet addresses as of January 1, 2022. On January 1, 2023, it was in down nearly 75% to just $328 million. At press time, the value of this portfolio has increased again to $423 million.

Table of profits and losses of known portfolios of Vitalik Buterin. Source: Arkham Intelligence

Buterin’s top assets are $316 million of ethereum, making up almost all of its holdings, followed by nearly $9 million of highly volatile memecoin SHIKOKU (SHIK). All of the other assets held in his portfolios are worth well under $1 million each, according to data from Arkham Intelligence.

The price of ETH, the cryptocurrency and ecosystem Buterin is most exposed to at the start of 2022, was around $770, and it is currently trading at $1,612. Despite this price increase, Buterin wallets now hold far fewer assets, in part due to many outbound trades and the declining value of many tokens.

Some of Buterin’s biggest outflows in 2022 include $60.25 million of ethereum, with two transactions sending $50 million of stablecoin USD Coin (USDC) for a total of $100 million and $48 million. This is not a complete list of outbound transactions processed in the last year, and there are, in fact, many more that number in the millions.

Additionally, Buterin also holds many tokens in the Ethereum ecosystem, many of which are speculative tokens (often memecoins) that are sent to him to promote projects. In addition to his 250,147, he also holds 500 trillion SHIK tokens, 300 trillion Jindoge (JINDOGE), 92,870,135 trillion Elongate Deluxe (ELONGD), 250 trillion Doge Inu (DINU), 45,000 trillion Jomon Shiba (JSHIBA) and an amazing number of other memecoins besides these.

Buterin was perhaps, reluctantly, a major crypto figure who had the most exposure to the latest memecoin explosion of the crypto market growth cycle. This rocketed the value of its known on-chain assets to a peak well over an astonishing estimated price of over $20 billion at the end of 2021, only to drop to just over a billion days later.

A recent on-chain analysis of Buterin’s wallet activity revealed that he deposits almost exclusively on cryptocurrency exchange Coinbase, revealing a preference he may have never otherwise disclosed. .

Justin Sun, founder of Tron (TRX) and owner of file-sharing protocol developer BitTorrent (BTT) as well as crypto exchange Huobi held $2.9 billion in assets as of January 1, 2022.

On January 1, 2023, these portfolios held $499 million, showing a decline of 82.8%. As of press time, the digital assets located in his publicly known wallets are worth $641 million, and the value of his assets has fallen to just $521 million, a drop of 82%.

P&L chart of Justin Sun’s known portfolios. Source: Arkham Intelligence

According to Arkham Intelligence, Sun’s top holding is Ethereum, worth nearly $430 million, followed by $60 million USDD stablecoin from TRON DAO and $10 million from Compound.Finance (COMP) filed in stablecoin USD (USDC) represented by the ticker CUSDC.

In addition, he holds $8.55 million in real USD (TUSD) deposited on Aave (AAVE) and represented by Aave TUSD (ATUSD) tokens, $3.85 million in Maker (MKR), $1.91 million Binance USD (BUSD) dollars deposited by Aave as Aave BUSD. (ABUSD), $1.64 million in wrapped bitcoins deposited by Aave (WBTC) as Aave WBTC (AWBTC), and $1.08 million in dYdX (DYDX) tokens. All other holdings are worth less than $1 million.

Top 2022 outbound transactions include $359 million worth of tether (USDT) sent in a single Bitfinex deposit, a $200 million USDC Binance deposit, and a transfer of $161 million USDC. Finally, there are seven USDC Circle repositories with a total value of over $1.37 billion.

According to Sun, he uses much of his wealth to develop the ecosystems in which he is involved. As we previously reported, in mid-December he transferred $150 million of BUSD from Ethereum to Tron by withdrawing it from Binance and depositing it on stablecoin issuer Paxos.

One of Pantera Capital’s top portfolios of cryptocurrency venture capital firms was worth just $62 million as of January 1, 2022.

As of January 1, 2023, these same wallets only held more than $4.5 million, showing a 93% decline in known wallets. As of press time, the asset value of these portfolios has risen to $4.7 million.

Profit and loss chart of known Pantera Capital portfolios. Source: Arkham Intelligence

Publicly known wallets run by Binance Labs, the venture capital arm of the world’s leading crypto exchange, Binance held $33 million in assets as of January 1, 2022. That quickly evaporated, shrinking by more than 95% to be worth just $1.4 million the first. day of the year and rebounded to $1.95 million at press time.

Profit and loss chart of known Binance wallets. Source: Arkham Intelligence

Addresses linked to a major crypto venture capital firm Polychain Capital held $185 million in assets as of January 1, 2022. As of January 1 of this year, the firm held $11 million, more than 94% less than a year earlier, and $18.1 million at the time of writing.

Although the data is incomplete, especially since it is rather unlikely that all the addresses used by the entities examined in the article are publicly known, it shows that the cryptocurrency slowdown has led to the reduction or the sale of the assets of many large holders to avoid further losses.

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