The cryptocurrency market has been attracting a lot of attention since its inception. Currently, there are thousands of cryptocurrencies in circulation. But the past few months have been a nightmare for the market for many reasons. However, the crypto market is currently in a recovery phase. Ethereum (ETH), on the other hand, lost many investors during the aforementioned volatile and red period.
10 altcoins for those exiting Ethereum (ETH)
Now, these investors selling Ethereum assets are looking for altcoin projects that will bring them big profits. In this article, we have compiled 10 altcoins that the analyst says have earning potential. Let’s examine together.
Shiba Inu (SHIB)
Shiba Inu is one of the most preferred cryptocurrencies among the richest Ethereum whales. As of May 2022, the top 100 whales have retained the Shiba Inu, which has directly impacted its popularity and growth. SHIB became the most viewed token in 2021, surpassing major cryptocurrencies like Bitcoin and Ether. Meme coin’s Metaverse ventures continue to pose serious threats to the likes of Dogecoin and Solana. This is why SHIB is highly praised by the investment community.
FTX Token (FTT)
FTT is the native token of the cryptocurrency exchange FTX. The FTX exchange has become quite popular among futures traders. As a result, the token became the fourth largest cryptocurrency by trading volume. Ethereum whales prefer the FTX exchange as they can reap FTT rewards and earnings. This is just one of several reasons why the FTT token is popular with ETH whales.
Chainlink (LINK)
Chainlink is a big hit among Ethereum whales. LINK was the most traded token in the crypto market of 2021. Whales bought and sold LINK tokens exponentially over a 24-hour period in 2021. Thus, it increased the popularity and market dominance of the altcoin project.
Cardano (ADA)
Cardano became popular after its developers launched Alonzo smart contracts and launched its decentralized exchange, SundaeSwap. Thus, it became one of the top cryptocurrencies bought and sold by crypto whales, including Ethereum. ADA holders will likely be heading towards easier times once the crypto market recovers.
USD Coin (USDC)
The USD Coin became a popular investment option among the Ethereum whale community when Terra collapsed. USDC is the second largest stablecoin in the market. Also, recent data shows that USDC has become a preferred cryptocurrency among whales. Initially, USDT has lost around $10 billion since the failures of the UST. However, as the crypto market operates based on investor sentiment, USDC has likewise become quite popular among ETH whales.
Tether (USDT)
Tether’s issuing USDT is the largest stablecoin in the crypto market. According to the data, in March 2022, Ethereum whales were holding $400 million USDT. However, shortly after that, after the depeg event of TerraUSD, USDT lost the trust of ETH whales. However, the stablecoin is regaining the trust of whales in these difficult days due to its stability and resilience.
Polygon (MATIC)
Some ETH whales hold about $380 million worth of MATIC tokens. Accordingly, they seem to be fans of the Polygon altcoin. MATIC is built on the Ethereum Blockchain and extends it to act as a multi-chain network. So Polygon is an Ethereum layer-2 solution.
Decentraland (MANA)
Whales are also interested in Metaverse coins and Decentraland is an example. Decentraland has emerged as one of the leading Metaverse tokens. The altcoin is currently held by some of the richest ETH whales. Reports from November 2021 revealed that during a seven-day period, Ethereum whales did not invest in any other cryptocurrency other than Decentraland. Similarly, MANA is getting bigger with the growing popularity of Metaverse. So, this trend continued until 2022.
Axie Infinity (AXS)
Axie Infinity is another Metaverse token uploaded by ETH whales. The AXS token has expanded its capabilities further into the Metaverse, making it more attractive than many other major cryptocurrencies.
Sandbox
Sandbox has partnered with Standard Chartered Bank to provide an immersive and creative experience for virtual world users. However, the SAND price tumbled when the cryptocurrency market crashed. However, Ethereum whales are collecting more and more SAND tokens to take advantage of them when their prices rise again.
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