The cryptocurrency market is trading in the green again as most altcoins take action. Lido DAO (LDO) was the biggest gainer today with 2%. Similarly, there is growing interest from whales on the DeFi coins front.
DeFi coins are gaining attention again
The DeFi market has been taking part in massive whale purchases for the past few days. On October 16, the total value (TVL) locked in all protocols was at its lowest point in October. From this point on, the trend started to reverse. Currently, the metric in question shows a high score of $54 billion. As shown below, a recovery of close to 1% was recorded on this front in the past day.
Individual protocols like Maker and Lido Finance have gained over 4% over the past week. Thus, it spurred a broader recovery.
Interestingly, Algorand’s TVL has been rising since the beginning of this month. From a low of $175 million recorded on October 7, the platform’s TVL value tends to hit $274 million ATH. In particular, it registered a 2% increase compared to the previous day.
On the price front, three tokens were DeFi-related among the top five winners on Wednesday. Curve DAO’s native token rose more than 8%, while Maker and Lido gained 7% and 6%, respectively.
In addition, whale watching platform WhaleStats revealed that DeFi platform Convex Finance is the most used smart contract platform among the top 500 Ethereum whales. A few hours before that, the record was in Lido’s hands.
In fact, whales also watch DeFi tokens in terms of participation. Uniswap was part of 10 tokens by trading volume among the 1000 largest ETH whales in the last 24 hours. Transactions were mostly on the buy side. For example, the whale named “BlueWhale0180” purchased 1,791,999 UNI tokens worth approximately 11,504,633 on Tuesday. Thanks to the positive sentiment, the DeFi token gained 3% daily.
Shiba Inu (SHIB) ranks first in the wallet of the 2,000 largest Ethereum whales
Currently, Uniswap and Maker have a combined 5% weight in the portfolios of the 2000 largest Ethereum whales. The Shiba Inu (SHIB) holds the largest position among these whales, with $128.7 billion. Later in the list, we see well-established Ethereum tokens such as LINK and MANA. According to data provided by WhaleStats, the top 2,000 Ethereum whales allocate the bulk of their portfolios to the following cryptocurrencies.
- Shiba Inu (SHIB)
- Maker (MKR)
- BitDAO (BIT)
- PAX Gold (PAXG)
- Uniswap (UNI)
- Locus Chain (LOCUS)
- Chainlink (LINK)
- Decentraland (MANA)
https://twitter.com/WhaleStats/status/1582129661852913664
As you follow on Kriptokoin.com, Uniswap founder Hayden Adams announced that the funds from the Series B funding round completed last week will be used to support the growth of his project.
1/ We’re proud to announce that we’ve raised $165 million in Series B funding to bring the powerful simplicity of Uniswap to even more people across the world 🦄🍾https://t.co/ChilydWOEO
— Uniswap Labs 🦄 (@Uniswap) October 13, 2022
The same will be done by investing in web apps and developer tools, launching NFTs, and moving to mobile, among others.
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