Last week, Ansem, a well-known trader in the Solana ecosystem, published a tweet, admitting that his recent trading level was extremely poor and he made a series of wrong decisions. He has completely lost his advantage in the current market and even considered cashing out and exiting the market.

As a trader regarded by the community as the "Godfather of WIF", Ansem once had thousands of times the profit on WIF, which has a market value of over 1 billion.After WIF, he also witnessed the process of BILLY, which has a maximum market value of 200 million US dollars, and BODEGN, which has a maximum market value of 300 million US dollars, starting from scratch, but after several iterations of the meme market gameplay on Solana, Ansem's golden finger halo seems to have disappeared.

What has Ansem experienced in the past few months? The public address of Ansem on the Solana network circulated in the community is AVAZvHLR2PcWpDf8BXY4rVxNHYRBytycHkcB5z5QNXYm. BlockBeats counted the meme transactions that Ansem's address actively participated in from February to August 20 this year based on the on-chain data analysis tool GMGN, trying to summarize its trading rules. 531 pure selling transactions are excluded here, which are generally tokens given by the project party rather than actively purchased by the wallet address. The remaining 2590 transactions are regarded as meme transactions actively bought and sold by the address. It should be noted that due to the data format limitations of the Solana chain, the original data may have incomplete statistics, and the analysis results are for reference only.

WIF Starts

Before the analysis, let's talk about Ansem's history in meme. WIF is the most important stop in Ansem's legendary story. On December 1, 2023, Ansem spent $472 to buy the first WIF at a price of $0.0003, and added another $185 eight days later. After that, Ansem frequently bought and sold WIF and called out orders on his Twitter account many times.

More than four months later, WIF reached a high of $4.9, which was nearly 16,000 times the cost of Ansem's first purchase. Ansem also became a legendary trader and gold finger caller in the Solana community because of his ambush on WIF.

Left: Dexcreener shows Ansem's public wallet address's transaction record on $WIF; Right: Ansem promotes $WIF on X

Although Ansem entered the market and called orders in the early stages of WIF development, Ansem is not a typical "diamond hand". From the transaction records, Ansem is used to frequent buying and selling operations, buying more than 80 times and selling 110 times. According to cielo's statistics, Ansem's address invested a total of US$2.14 million in WIF, sold a total of US$2.85 million, realized a profit of US$804,000, and there is still US$745,000 in profit that has not been sold.

After WIF, Ansem's address was monitored by more and more people. Correspondingly, many meme project parties have transferred their tokens to Ansem's address in the hope of using "Ansem's holdings" as an endorsement of the meme.

After WIF, Ansem's brilliant trading record also includes "BODEN". He bought BODEN in early March, and it continued to rise for more than a month after the purchase, and finally made a profit of 540,000 US dollars. Ansem sold his positions soon after, but the signal of "Ansem is in the car" spread widely on Twitter. In the data of GMGN, the token cost in several records of BODEN sold by Ansem was 0, indicating that this part of the shares came from external transfers rather than active purchases by the address.

Left: Dexcreener shows Ansem's public wallet address's transaction record on $boden; Right: Community discussion about Ansem's purchase of $boden

The cost of whales

What has happened since WIF? According to GMGN statistics, Ansem's address has deposited a total of $1.93 million in SOL in the past 8 months, most of which occurred in July, with an investment of $1.32 million in SOL. Correspondingly, its cost of investing in meme transactions in July was also the highest, at $3.39 million. Ansem's single purchase quantity is not small. From April to now, its average single transaction volume is around $3,000-9,000.

In terms of the number of transactions, Ansem has been trading more and more in the past 8 months, with the peak of investment occurring in July, when the number of purchases reached 500 and the total number of transactions exceeded 800.

For several months, high-frequency trading operations have become the survival rule for meme players in the current Solana ecosystem, with many players trading more than a dozen tokens a day. It can be seen that Ansem is gradually learning to adapt to this trading style. While the number of transactions has become more frequent, Ansem has also invested more funds into the meme market, with more principal to support it, and Ansem's highest single-transaction income barely maintains an upward trend.

If the delivery time is defined as the time between the first purchase and the first sale of the same currency, the average delivery time of the tokens purchased by Ansem in January and February is 91 days and 157 days, and these tokens were not sold until April-August. After that, Ansem's holding time became shorter and shorter.

From the perspective of multiples, Ansem's peak of wealth creation ended in May, and its return efficiency fell sharply after May. The return in August is likely to come mainly from the meme coins he ambushed in February. On the other hand, the ratio of Ansem's trading operations with a profit of more than 200% to his selling transactions began to gradually increase after the cliff-like drop in May. Perhaps Ansem has gradually learned to "double his investment".

But in general, Ansem's trading volume is still large compared to ordinary players, which is reflected in his trading records as slow profit taking, frequent position increase, and the diamond hand habits that are not fully adapted.

Neiro Waterloo

In August, Ansem suffered a real "Waterloo", with a loss of 448,000 US dollars. The losses in August mainly came from Neiro. Ansem made 28 purchases on Neiro and continued to increase his position when it fell, investing a total of $350,000, but eventually closed out his position with a loss of 77% and a loss of $270,000.

Before this, the disadvantages of Ansem's trading habits had already been reflected. Ansem's trading style tends to be "diamond hands". He prefers to focus on a certain token and continue to bet, but he seems out of place in the current meme market. Ansem continued to buy and sell HAMMY, which was born in March, for two months after its rise, investing a total of $200,000, and finally liquidated his position with a loss of 5%.

In July, Ansem had a single sale profit of $21,000 on the meme coin BILLY. BILLY was born on June 24, and Ansem bought it shortly after the opening, successfully waiting for the high multiple of the return after takeoff. BILLY's highest market value reached $281 million, and Ansem also earned hundreds of thousands of dollars.

But after BILLY reached its peak, Ansem continued to increase his position, and his profit on BILLY continued to shrink. In the past month, Ansem has lost a total of $80,000 on BILLY, and the cumulative profit has shrunk to $107,000. As recently as August 20, Ansem was still increasing his position in BILLY, and BILLY also became Ansem's most traded token, reaching 255 times.

A KOL's meme business

Do KOLs really lose money? If we only count the transaction records of active buys and sells of Ansem's public wallet address, according to the existing data, we will find that Ansem's address has lost $470,000 in these eight months.

However, in this calculation process, the situation where the wallet address sold tokens after transferring tokens from other addresses has been excluded, and the actual sales income of this part is 2.25 million US dollars.

There are two situations in which tokens are transferred to Ansem’s wallet address. One is that the project party transfers a certain number of tokens to Ansem in order to create the selling point of "Ansem holdings", and the other is that Ansem’s other wallet addresses buy tokens and then collect them to the public wallet address. In either case, this part of the income is beyond the reach of ordinary retail investors.

After adding this part of the income transferred from outside, the total profit of Ansem’s public wallet address is 1.78 million US dollars. After becoming "famous", even if the cognition and trading ability of the meme market begin to degenerate, a KOL can still use its influence to obtain considerable income.

Looking back, Ansem’s trading experience shows the “discomforts” experienced by a lucky person who seized the opportunity and became a well-known whale in the face of a rapidly changing market. There are no eternal winners in the crypto market. But on the other hand, after advancing in the “food chain”, Ansem no longer needs to make profits through sweeping transactions again and again. From starting with a thousand-fold WIF to tweeting self-deprecating retirement, Ansem seems to be out of date, but a new “legendary trader” is on the way.

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