Tracking smart money moves is always worth it.
Some of my recent research led me to $INSP.
Hereâs the reasoning, and it applies to others as well. đ§”đœ
The blockchain is an open space where you can see everything that happens, so why not take advantage of it?
Yes, I know, some guys make a lot of effort to hide their activity by changing addresses, using CEXs, and so on⊠but most people donât go that far.
Since I got into crypto, Iâve always monitored smart money activity.
Thatâs how Iâve consistently managed to spot good plays before anyone else.
Recently, two smart money wallets from my watchlist both bought the same token, $INSP, for a combined $5M.
These two smart money wallets are 0x436F6186cD323ABd8433bf1311389e561356B3B5 and 0x2DDfEcd7c1aDC03b750DbB365D6f4B1DdfbF0f55, and theyâre likely controlled by the same entity.
The first one has already made several million dollars in profits on coins like GRT, POL, CRV, and others.
The second wallet has had smaller wins, but still significant ones, about $800K on ORN and $200K on AGIX.
Some signs suggest both wallets are controlled by the same person, though Iâm not 100% sure.
The gains come from different tokens.
Both bought $INSP.
This caught my attention because these wallets usually enter low caps early and make solid gains from them.
INSP is currently at just $18M market cap and $45M FDV.
Even after the recent price increase, it still has a lot of growth potential.
Over the past 30 days, smart money holdings of INSP have grown by 267% according to Nansen.
Smart money always has access to information we donât, so tracking their moves gives us an edge.
That said, you need to be careful not to become their exit liquidity.
If you decide to enter, do it at the same price level they did. If you buy higher, you risk being their exit.
Interestingly, most smart money is currently holding INSP at a loss.
That might seem like a red flag, but itâs a positive sign, it means you can enter at a better price than they did.
And despite being in the red, theyâre still holding, which reinforces confidence.
In any case, several indicators pushed me to open a position in INSP.
The key takeaway here is the reasoning, itâs not just about INSP, it applies to any token.
Of course, you should always pair this with fundamental and tokenomics analysis, but thatâs a topic for another thread.
That's a wrap!
Mention some CTs friends:
@0xJok9r
@belizardd
@AlphaFrog13
@zucl1ck
@Mr_Lumus
@poopmandefi
@defiprincess_
@Hercules_Defi
@Only1temmy
@TweetByGerald
@0xAndrewMoh
@Haylesdefi
@DeRonin_
@kem1ks
@cryppinfluence
@0xDefiLeo
@alphabatcher
@DOLAK1NG
@splinter0n
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