The Average Homeless

Nakamigos (@Nakamigos) Profitable? I wanted to highlight this Nakamigos chart off the back of seeing @anonchain, a friend of mine, show off his stack of Nakas. His is a proper collection and it's not just a couple, but real size collection!! It got me thinking about something I care about way more than floor or short term moves… actual collectors vs people who say they are (did an article about it) This chart backs that up and for a long stretch, this was a market where sellers were doing very well: 1 - Profit taker ratio sat around 0.5 – 0.7 most weeks 2 - Regular spikes up to 0.8 + 3 - 50 - 80% of sellers were exiting in profit People could sell and win for a while, and were doing just that! But now look at where we are: Profit taker ratio down to 0.1 – 0.2, so only 10 - 20% of sellers are in profit Most people see that and think it’s bearish BUT I don’t. When people aren’t in profit, they don’t rush to sell and they hold. So what you’re seeing now for Naka's is: 1 - Way less profit taking 2 - Fewer people listing 3 - Supply naturally tightening And that’s where collectors come in because this is the phase where you find out who actually believes and who was just here for a quick flip for profit. Anon stacking like that is PURE conviction guys and that’s what I’m bullish on: - People building real positions - People holding through tougher conditions - People supporting something properly, not just posting about it Nakamigos has already shown it can reward sellers but now it’s showing something else… who’s actually here to hold. That’s the bit that usually matters more going forward in my humble opinion!