Researcher Reveals Largest Altcoin Holdings By Crypto VCs


Thor Hartvigsen, a data-driven DeFi researcher based in Copenhagen has used the on-chain analysis tools of Watchers, Nansen, DeBank and Arkham to examine the altcoin holdings of the 20 largest crypto funds. Together, these have a total of over 1,200 wallets.

In a thread on Twitter, Hartvigsen presents the eight largest VCs, their largest crypto holdings and recent investments. As the analyst points out, altcoin holdings can generally be considered an indication of strong investments. However, there is also no guarantee that VCs are “smart money,” since “they often act completely reckless.”

How To Get Free Crypto  
Don’t wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!

“So use this info as you wish – to countertrade VCs or identify possibly strong narratives / trades from the funds that are still alive today,” Hartvigsen stressed, identifying Jump Trading as the largest crypto VC.

The company has a total balance of $3.8 billion, with the largest altcoin in the portfolio by far being Ethereum with $3.25 billion. Following behind are Shiba Inu ($328 million), MATIC ($81 million), USDC ($50 million), wBTC ($50 million), LINK ($20 million), and COMP ($14 million).

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Play Now!

Smaller positions between $1 million and $10 million include: HFT, AVAX, SNX, CHZ, MASK, AAVE, and Lido Finance (LDO). Hartvigsen notes that these are only EVM wallets and there are certainly several wallets that include SOL and wETH on Solana.

The second largest crypto VC is Wintermute with a total balance of $401 million. This VC also holds a majority in Ethereum ($301 million in wETH).

Coinbase Banner  

That position is followed by $47 million in OP, $22.2 million in LDO, $17 million ETH, $7.5 million GALA (the largest increase this month), $7.3 million FTM, $6.6 million DYDX, $6 million in BLUR, $5.7 million in HFT, and $5.1 million in MATIC.

Wintermute made its largest sale in recent history in February, when it sold about $4 million worth of VC Ape Coin (APE).

Crypto VCs Bet Big On LDO, ETH, MATIC

Paradigma follows in third place with a total balance of $382 million. Paradigma’s largest holding is Lido Finance (LDO) with $195 million, followed by $166.5 million in ETH and $22.47 million in MKR. Other investments include Optimism, Synthetix, DYDX, Osmosis, Uniswap, Starkware and others.

“Interestingly, Paradigm is one of the largest investors in Lido Finance. As of now, 79m of their 100m LDO tokens have been unlocked (fully unlocked May 1st 2023),” Hartvigsen commented.

FreeBitcoin Banner  

In fourth place comes a16z with $310 million in crypto. The VC has been in the headlines recently for its influence on Uniswap’s vote on deploying on BNB chain via Wormwhole. a16z controls more than 4% of all UNI tokens ($257 million in UNI). The next largest holdings of a16z are $15.5 million USDC/ETH LP and $13.7 million USDCOMP.

Following behind is Amber Group with $245 million, which also relies heavily on Ethereum ($119 million in ETH). After that comes $74 million in USDC/USDT, $21.5 million in FET and $8.3 million in DYDX.

Notably, according to the analyst, of all the liquid staking providers, Amber Group is most convinced by SWISE ($2.2 million). Also worth noting, the entire $21.5 million in FET (FetchAI) was bought in the last three days.

VC Blockchain Capital owns about $87.2 million in crypto, with MATIC ($21 million), AAVE ($18.4 million), UNI ($15.7 million), ETH ($11 million), and RPL ($5 million) being the largest holdings. Hartvigsen remarked:

Interesting to see MATIC as their largest public position. Much of this was even acquired in 2023. Polygon is launching their zkEVM the 27th of March. Meanwhile, Blockchain Cap also co-led the zkSync series C funding round with Dragonfly worth $200m.

Dragonfly Capital has a total balance sheet of $90.4 million in crypto and is also betting big on Lido Finance ($46 million), followed by TON ($13.3 million), MATIC ($10.6 million) and FXS ($7 million).

DeFiance Capital has a similar balance of $85 million in crypto, with much of it parked in stablecoins USDC, DAI and USDT ($57 million). Strikingly, DeFiance Capital also has its largest investment in Lido Finance ($17 million), followed by AAVE ($3.1 million) and DODO ($3 million).

At press time, the Lido Finance (LDO) traded at $2.80, just below the crucial resistance near $2.85 before breaking towards a new all-time high.

LDO price just below crucial resistance | Source: LDOUSD on

Featured image from iStock, Chart from

Go to Source
Author: Jake Simmons

Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.