Evaluating Wallet Conviction Using Profiler PnL Analysis

Written By Nansen Intern

Last updated 7 months ago

🛡️ Overview

Difficulty: Intermediate / Steps: 4 steps / Time: ~10 minutes per token/wallet analysis

🔥 Value

You avoid getting baited by short-term pumps and instead follow wallets with real skin in the game. This improves conviction in volatile markets.

👤 Who Should Use This

  • Swing traders looking to follow conviction plays

  • Long-term investors researching entry/exit signals

  • Anyone building Smart Segments for better filtering

⚠️ Workflow

  1. Open Nansen Profiler:

    • Start from a wallet that shows up on Smart Money dashboards or your Smart Segment.

    • Alternatively, start from a token and drill into top holders.

  2. Review PnL metrics:

    • Realized PnL: Great for tracking fast flippers and high-frequency traders.

    • Unrealized PnL: Ideal for identifying long-term conviction holders who haven’t exited yet.

  3. Apply Filters:

    • Look for wallets with:

      • High unrealized ROI

      • Long holding duration (30D+)

      • Repeated entries in other profitable tokens (not just one lucky trade)

  4. Open Wallet Profiler for Token (WP4T):

    • Identify when a wallet bought or sold a token

❓When to Use This

  • Validating and analyzing a wallet’s behavior

  • During due diligence on a trending asset

  • Before entering a new token

⚙️ Feature Spotlight

  • Nansen Profiler → See multi-token behavior, time held, and portfolio rotation

  • PnL Metrics → Sort by unrealized ROI to find strong holders

  • Wallet Profiler for Token (WP4T) → Understand wallet history with a specific token

💡Pro Tip

Combine with Token God Mode’s Top Holders tab to zoom in on wallets that not only bought early, but are still holding after big moves.

Community contribution by @bike4sail. Got a workflow that might be helpful? Share it with the Nansen community. Get in touch at marketing@nansen.ai.