The crypto market stopped the downtrend, causing Bitcoin and Ethereum to recover. However, the recovery may be short-lived as Ethereum is on the decline. There are those who say that the latest rise only paves the way for a bearish week. However, while investors are panicking, Ethereum whales are busy with these altcoin projects…
Which altcoin projects are Ethereum whales collecting?
In the last 24 hours, many traders have seen their positions green again. Thus, Ethereum whales also continued their normal activities. However, it was the new cryptocurrencies that entered the radar of big investors. The coins collected now could be whales’ long-term savings, as prices are trading at historic lows.
Over the past 24 hours, Ethereum whales have bought the most stablecoins like USDT and USDC. At the same time, they are accumulating the popular gaming token Enjoin (ENJ). In the past 24 hours, whales have purchased large quantities of ENJ, averaging around $9,487. Thus, ENJ reached #4 on the most bought list.
On the other hand, the popular metaverse coin SAND is considered a typical whale token. For this reason, it is heavily involved in whale transactions. Over the last 24 hours, 5,000 SAND was purchased at an average of $6,339. ENJ and SAND are among the cryptocurrencies that whales actively trade. Both tokens were rising at the time of writing.
Which altcoins are whales hodling?
There is an interesting portfolio of the biggest Ethereum whales, as we have included in their analysis as Kriptokoin.com. WhaleStats data shows that whales continue to accumulate a range of tokens they love. These include stablecoin giants such as USDC and SUDT. However, it is also accumulating several projects, among them stock market cryptos.
FTT Token is the native cryptocurrency of the FTX exchange. Currently the largest 5,000 Ethereum whales occupy 10% of the wallet. Whales hold FTT worth $940,330,107 in total. On the other hand, there is serious competition between SHIB and FTT for the biggest hodl ranking. The Shiba Inu lags behind FTT for now, with a slight difference.
This defeat does not mean that the whales have moved away from the meme token. The whales have moved away from Shiba for now. Compared to the past, SHIB slightly reduced their portfolio. But they still hold a significant amount of SHIB. The total Shiba investment of the whales is $646,219,449. This amount corresponds to 7% among the largest Ethereum whales. The rest of the list includes Wrapped BTC and BEST, which account for 4% and 3% of all its holdings, respectively. List of remaining altcoins with 2% share:
- LINK
- wETH
- CHSB
- DAI
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