The largest Ethereum whales, Shiba Inu (SHIB), are holding on to the accumulation, but it seems the whales are determined to divest a number of altcoin projects such as Apecoin and FTX Token. Data provided by WhaleStats shows that whales have sold some trending coins in the last 24-hour timeframe, mainly APE, KNC, and SNX.
ETH whales discredit these altcoin projects
The WhaleStats chart below shows the top selling altcoin projects in the past 24 hours among the largest Ethereum whales. The market was slightly up during this period. That’s why whales are switching from stablecoin ports like USDT, USDC, and BUSD to altcoins that are gaining upward momentum. However, selling pressure continues for Apecoin, FTX Token and SNX. These 3 altcoins have seen sales of over $10,000 by Ethereum whales in the last 24 hours. On the other hand, the second meme project by market cap, Shiba Inu (SHIB), is leading the ranking of the largest token position with million-dollar purchases.
The general view of the list is as follows.
- Tether (USDT)
- USD Coin (USDC)
- Ethereum (ETH)
- Wrapped BTC (WBTC)
- Binance USD (BUSD)
- Pax Dollar (USDP)
- ApeCoin (APE)
- Kyber Network Crystal v2 (KNC)
- FTX Token (FTT) )
- Synthetix Network Token (SNX)
Becomes the most used smart contract when selling Shiba Inu, APE and FTT
“Tolkien”, a large ETH whale With another 51 billion SHIB closing, the Shiba Inu was the most used contract in the last 24 hours. WhaleStats shared that about four hours ago, Ethereum whale “Bombur” (ranked 19 on the WhaleStats wallet scale) purchased a total of 50,992,035,458 Shib Inu and paid $1,269,191 for it. This is the second SHIB purchase since April 10, when it received a similar amount (roughly 50 billion meme tokens) by the ETH whale.
As I have quoted as Cryptokoin.com, in the last 24 hours Shiba Inu’s s smart contract used far more than any other among the 100 largest ETH whales. This fact proves that whales have been actively grabbing SHIB lately and the second largest dog crypto in the market is the largest piece of the portfolio formed; Currently, the top 100 wallets contain just over $1.3 billion Shiba at the time of writing.
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