Azuki Elementals have finished minting during Phase II presale! It sold out in less than 20 minutes, so there was no Phase 3 Public Sale. However, in the last 7 days, the floor price of Azuki has dropped by ~41%, currently standing at 8.88 ETH.

The Dilemma of Azuki

Now, let's explore the reasons behind that. Typically, the minting period presents one of the best opportunities for liquidity. It's when we see the highest number of traders and listings. In the past 24 hours, we witnessed the highest number of holders actively trading within a year, reaching a total of 1.8k.

One possible explanation for this trend is that people are actively seeking bidding and lending opportunities on Blur. Looking at the sales charts, we can observe that during periods of price decline, many whales are making moves.

Following Azuki's loans dropping to 249 just before the snapshot, they have now doubled to a total of 556. Additionally, most whales are also the active participation in the Blur airdrop ranking (https://blur.io/airdrop#1).

Out of the recent 500 active loans on Blur, Azuki and BEANZ accounted for nearly half of them, with 130 and 119 loans, respectively.

Another contributing factor is that hodlers are seeking liquidity after receiving the airdrop. Additionally, some holders may have missed out on the minting process due to the tight timing, especially considering that the art style of Elementals is quite similar to Azuki.

During the price drop, @machibigbrother, flooringlab.eth, jpegmorganliquidity.eth bought the dip at around 8.5 ETH on the floor.

Who are the Top Minters?

According to NFTGo, 31.28% were unique minters, ~11.32% were Blue Chip Holders, and ~0.14% were whales. @Bholu6933 paid the highest gas fees to mint with a transaction that cost 0.9173 ETH.

Special shout-out to the top minters & the whales! 🥇407 mints - @luggisdoteth 🥈371 mints - @Christianeth 🥉290 mints - @Rewkang

Luggi minted 407 Azuki Elementals during phase 1 and phase 2. On the 2 transactions, he spent a total of ~$229 USD on gas fees.

Whales bought 1,850 Azuki Elementals, spending a total of 3.7k ETH, which is ~7M USD. The top 3 whales represent 49.29% of the total mints by whales.

Do you want to know more about the top minters? Let's start with 🥇@luggisdoteth

Luggis.eth is tagged by NFTGo as Blue Chip Holder, currently their portfolio value is ranked in #411 place with 389.4 ETH.

Azuki Elemental Beans now represents 22.73% of Luggis portfolio based on the total number of NFTs.

🥈@Christianeth

Christian's portfolio is ranked in the #69 place based on its portfolio value. He's tag as a Whale and a Super Blue Chip Holder.

Currently, his portfolio has increased by 66.90% in the last 24H and in the 7D span 58.76%.

Christian is fully involved and convinced of Azuki success. Azuki and BEANZ represent 74.78% (1400.36 ETH) of its portfolio.

🥉@Rewkang

Rewkang wallet (beanwhale.eth) is in the rank #22 based on its portfolio value of 5.61k ETH. Beanwhale is tagged by NFTGo as Whale and Super Blue Chip Holder.

Filtering Rewkang wallet by the estimated value we find out that its portfolio distribution it's based mostly on Azuki, it represents 79.99%, followed by Beanz with a solid 9.95% and BAYC with 5.90%.

After the mint, Azuki Elemental Beanz is now its Rewkang top holding by the number of NFTs, with 32.88%.