Upper and Lower Case NEIRO Profit Address Analysis

This article will use three tools: Dune, Nansen, and Arkham, taking the case of NEIRO as an example, to detail the analysis steps of profit addresses and how to identify "smart money."

Uppercase Token NEIRO( ETH) Profit Address Analysis

According to Dune queries, the top ten addresses with the highest profits for large-cap tokens are as follows:

The top ten addresses with the highest profit multiples are as follows:

It can be seen from the results:

• The number of large holders with unrealized gains in the current stage of large-cap tokens is relatively small, and most addresses are in a state of unrealized losses.
• The top three addresses achieved maximum profits while also setting extremely high multiples ranging from 450 to 880 times.
• From the number of transactions, it can be basically determined that an address with such an exaggerated multiple from just one transaction is "insider trading."

Next, we will conduct an in-depth analysis of the first three addresses:

Address 1: 0x108d9b652d20fb2e196d3118a209bf792848781c

The address is suspected to be a sub-wallet of Wintermute, which spent only $95 to acquire nearly 10 million tokens during the early stage of the token issuance. Subsequently, the tokens were transferred to two addresses:

• 0x9b3980716cb055bf0a2a05b3bc723d6806e1bf4d ( Address a)
• 0xe5e6ed8184ebdc2c0d1b23db4c943f006de83fb0 ( Address b)

Address a is a sub-address of Wintermute, sending 1.2 million USD tokens to the Wintermute market-making address.

Address b was recently created to transfer tokens to Bybit and MEXC exchanges. From other positions, PEPE and BasedAI can be seen, which are similar to Wintermute's total holdings.

Based on the above speculation, Wintermute may be one of the "conspiracy groups" behind the capital tokens.

Address 2: 0x1a768781d4543ae6862471ca603ee64d0827e848

The address purchased tokens worth 131 USD at the beginning of the issuance and later transferred them out in two transactions:

• 0xd56fd17fcc0b9d346d6b1bd011dd1d93c67b497b ( Address c)
• 0xbbbeab557377314cfa82c6467e51bd0c53462faf ( Address d)

Both addresses have not sold any tokens. Address d still holds multiple unknown MEME coins.

Address 3: 0xb265f497c5b9f63ffc739bca24db5601ce90aff3

The address is almost identical to the holdings of address d, indicating that addresses 2 and 3 may be operated by the same group of people.

Address 3 Send tokens to:

• 0x23feb0f143990a9b3aa327ba516ce432b6dfafa1 ( Address e)
• Crypto.com exchange shipment

Address e directly transferred to Bitget for shipment, with a profit of about 380,000 USD.

Summary

Through analysis, it was found that Wintermute and another party force ( Address 2 and 3 are behind ) as members of the "conspiracy group" of NEIRO in uppercase. These three addresses are connected through the same CoinTool token splitter for token distribution, ultimately linked to a Binance account address.

Lowercase token NEIRO(CTO) Profit Address Analysis

Similarly, using Dune to query the profit addresses of lowercase tokens, the top ten largest profit addresses and the addresses with the highest profit multiples are as follows:

It can be found that multiple addresses bought in simultaneously at the time of issuance, which raises the issue of "insider trading".

Address with the highest earnings

Address:0x794e31c25fb4655056be42bbe10f02d342b7d868 Position: 3.18 million USD PNL: 3.15 million USD PNL%:11686%

This address bought a large amount of tokens during the initial issuance and has recently started to transfer out tokens, which is speculated to be for selling.

Address with the highest yield multiplier

Address:0x0714225f3e9f051ff8f4d2951dc1ca028c221dca Position: 1.69 million USD PNL:168 million USD PNL%:24426%

The address initially makes small investments, then sells off a large amount and reinvests.

Address for large purchases made a day before Binance went live

Address:0x4bb22cbc4b177880a9f7d0677c61b4693d66a585 PNL:42 million USD PNL%:703%

Bought $50,000 worth of tokens on September 15, sold all the next day after Binance went live. Suspected insider trader.

Summary

The NEIRO case-sensitive token has brought new speculation topics to the MEME market, but there are a large number of "insider trading" addresses profiting behind it. Such projects carry high risks, and participation should be approached with caution.