According to blockchain tracking service WhaleStats, the 5,000 largest Ethereum whales on the Ethereum (ETH) network have gravitated towards the metaverse industry’s largest crypto assets in the past seven days. The most notable coins in the list of Ethereum whale addresses are MANA, SAND and APE.
Ethereum Whale Addresses Are Highly Relevant to Metaverse Coins
The Sandbox (SAND) is the most popular metaverse altcoin among the top 5,000 ETH whales in the last 7 days. SAND has risen around 10% in the last 7 days, which may be due to whale activity. Despite the increasing interest, there are sectoral declines. That’s why SAND is still 85% behind its all-time high.
In second place is Apecoin (APE). Whales continue to be interested in the asset, which is airdropped to Bored Ape Yacht Club (BAYC) holders and has meme token potential. So much so that the top 5,000 ETH whales have purchased an average of 81 APE Coins worth around $390 in the past seven days.
Right behind Apecoin is another metaverse project, Decentraland (MANA). Ethereum whale wallets have accumulated MANA at the time of compilation, with an average purchase amount of 372 coins worth $327. It acts similarly to its rival SAND. It’s 85% behind its all-time high. It showed an increase of 4% in a 1-week period. As in the entire cryptocurrency ecosystem, rises and falls are similarly experienced for metaverse projects.
Cryptocurrencies Bought by Ethereum Whales
Here is the full list, along with the top 3 assets that Ethereum (ETH) whales have bought:
- The Sandbox (SAND)
- ApeCoin (APE)
- Decentraland (MANA)
- Enjin Coin (ENJ)
- Axie Infinity (AXS)
- SushiSwap (SUSHI)
- Render Token (RNDR)
- GameCredits (GAME)
- MyNeighborAlice (ALICE)
- Yield Guild Games (YGG)
According to the list provided by WhaleStats: Prices continue to fall. But the biggest Ethereum whales, Metaverse and GameFi, have turned to the P2E side. Not only 5,000 whales, but also other data confirm this. The most held coin in the Top 100 ETH address is MANA. However, it would not be wrong to say that the volumes decreased as of July.
There is competition between MANA and SAND in both transaction volumes and market capitalizations. There is only a $100 million difference in their market value. And they have recently left Axie Infinity behind.
Enjin Coin (ENJ) became the fifth most bought metaverse coin of seven days. At the time of writing, it is trading at $0.50, up over 8% in a week. According to Ethereum whale interest, AXS is behind ENJ. Axie Infinity (AXS), an Ethereum-based play-to-win (P2E) gaming altcoin, is just a few places behind by market cap, but AXS is 90% off its ATH with current data.
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