One of the huge altcoin whales tracked by WhaleStats has stockpiled a mind-boggling amount of Ethereum rivals as the cryptocurrency market continues its recovery. Here are the details…
Whales swept an altcoin project from the bottom
While the cryptocurrency market continues its volatile price movements, the world’s richest Ethereum (ETH) whales are accumulating one of their strong ETH competitors. The altcoin in question, Phantom (FTM), is a scalable smart contract-enabled Blockchain and has witnessed record purchases by whales for the past 24 hours. Whale watchers show that the 500 largest Ethereum whales are buying FTM at record levels, outpacing popular meme cryptos Shiba Inu (SHIB) and Dogecoin (DOGE). As Cryptokoin.com reported, the announcement of Andre Cronje, a well-known DeFi developer, to leave the industry, had a negative impact on Fantom and related altcoin projects. However, as whales continue to accumulate at lower prices, the FTM price is trading at $1.25, down 43% from last month.
Huge Ethereum whale collects million dollar FTM from bottom price
Yesterday morning, an Ethereum whale known as “Gimli” released approximately 1.6 million dollars in a massive transaction Bought $1,300,000 FTM worth $1.3 million. The deep-pocketed crypto investor bought another 476,799 Chainlinks (LINK) for over $6.3M in just seven minutes. Hundreds of thousands of stablecoins such as Tether (USDT), USD Coin (USDC), and Binance USD (BUSD) were also deposited by whales. According to WhaleStats, investors in the whale tier bought an average of 898,595 USDT, 719,327 USDC and 245,651 BUSD.
Other notable transactions
Another popular token besides Fantom is LINK, the native token of oracle platform Chainlink. On March 9, the largest Ethereum whales made massive purchases, making Chainlink one of the most used smart contracts.
In addition to the huge purchases above, whales will be released on March 10 at 6 We saw that he continued his savings by purchasing LINK worth millions of dollars.
Another token recently bought by whales is a part of the FTX exchange. Derivative Short Bitcoin Token (BEAR).
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