The biggest Ethereum whales tracked by WhaleStats are accumulating a slew of altcoins like Shiba Inu (SHIB) and Polygon (MATIC) as the cryptocurrency market bleeds.
Ethereum whales top Shiba Inu
Although the world’s largest Ethereum whales still accumulate Shiba Inu (SHIB), statistics say the vast majority of individual investors are far from investing in SHIB. According to a recent tweet from whale watching bot WhaleStats, ETH layer-2 scaling solution Polygon (MATIC) has been overtaken as the most actively traded cryptocurrency among the top 500 Ethereum wallets. WhaleStats’ message states that Shiba has achieved significant success and remains popular:
SHIB flipped MATIC to become the most traded token among the top 500 ETH whales.
Additionally, according to WhaleStats, the top 5,000 Ethereum whales jointly own $1.46 billion worth of Shiba Inu. FTX Token (FTT), the native token of the leading cryptocurrency exchange FTX, is another cryptocurrency that stands out among deep pocket wallets that hold $1.22 billion worth of FTT in their accounts. The FTX ecosystem is powered by FTT, which provides traders with a number of benefits, including lower trading costs and discounts. Although Polygon is overshadowed by SHIB, it remains a favorite token among ETH whales with a market cap of $332.59 million as of December 2017.
More than half of Shiba Inu investors are at a loss
According to crypto analytics company IntotheBlock, in light of recent crypto market sales, 52 percent of SHIB holders are currently holding the token at a lower price than when they bought it. However, according to the analytics firm, investors in the dog-themed cryptocurrency Dogecoin (DOGE) are already making profits by profitably investing 57% of their money.
As we have seen in Cryptokoin.com analysis, Shiba Inu (SHIB) price is about to complete a bottom reversal pattern defined as Adam and Eve. You can find Analyst Indrashish Mitra’s technical analysis and price forecasts here.
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