As the cryptocurrency market recovers, Ethereum whales are becoming active again. Today, unlike stablecoins or high-volume tokens like SHIB, MANA and SUSHI hit the top spots.
Ethereum whales buy DAI, SNX and MANA
According to data provided by WhaleStats, Ethereum whales are increasing their DAI accumulations. DAI is an Ethereum-based stablecoin. It makes sense for whales to switch to stablecoins as the cryptocurrency market sees a slight correction today. Meanwhile, the innovative Ethereum-based DeFi protocol Synthetix took second place with around $10,000. Synthetix provides access to highly liquid synthetic assets (synths) on the Ethereum network. The network’s native cryptocurrency, SNX, occasionally peaks at the top of the list.
One of the notable altcoin projects on the list was the metaverse platform Decentraland (MANA). MANA ranks 36th by market value. It is currently trading slightly higher at $1.01, accompanied by increased whale trading. CRV, ETH, and USDC round out the top 5 with purchases under $5,000. This list will change in the coming hours to see ETH, USDT and USDC take the top spots. The overview of the list is currently as follows.
- DAI (DAI)
- Synthetix (SNX)
- Decentraland (MANA)
- Curve DAO Token (CRV)
- Ethereum (ETH)
- USD Coin (USDC)
- Sushi
- Uniswap (UNI)
- Fei USD (FEI)
- Tribe (TRIBE)
MANA becomes most popular altcoin among whales
According to WhaleStats data, MANA is currently the most widely held token among the top 100 Ethereum whales. Meanwhile, the status of the most traded cryptocurrency among whales is currently held by Synthetix (SNX). Shiba Inu (SHIB) has reached the largest token position in dollar terms, especially with the huge purchases in the last days. As we quoted as Kriptokoin.com, whales have accumulated more than 1 trillion coins in a short time.
Most traded small-volume altcoins
In the second part, let’s look at the small-volume tokens with the most transactions by the top 100 Ethereum whales. These altcoins have a market capitalization of between $5 and $15 million. Stader creates the basic staking middleware infrastructure for multiple PoS networks for its individual users, exchanges and custodians. The operations of the network are carried out via the SD token. SD token has become the most traded small-volume altcoin today.
PAR, on the other hand, is a stablecoin pegged to the euro. It is backed by Mimo, a company that develops DeFi tools. We can say that the PAR stablecoin is a typical whale token in this category.
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