The hope of a quick respite to the Russia-Ukraine war has ended in the $39,000 region, with investors selling higher after the Bitcoin price pushed above $40,000. While altcoin giants such as Ethereum, Solana, Avalanche and Cardano accompanied each move of the leading crypto with a slight rise, we witnessed the superior performances of LUNA and XRP in this process. In the continuation of the article, let’s take a look at how Ethereum whales are positioning in current market conditions over the last 24-hour time frame.
Ethereum whales divest these altcoins/tokens
The WhaleStats chart below is worth an average of $1.3 billion, excluding known exchanges and project wallets, and has an average of 170.642 ETH, 158 tokens It shows the cryptocurrencies that the top 100 Ethereum whales have sold the most in the last 24 hours. USDT, USDC, and BUSD are the most traded stablecoins by whales in this time frame. Paxos Gold (PAXG), a tokenized gold product backed by gold, completes the top 5 names of its list along with Ethereum (ETH).
Polygon (MATIC) and Yearn.finance (YFI) are other altcoin projects divested by whales. As we reported as Kriptokoin.com, the announcement of Andre Cronje, one of the famous DeFi developers, that he would leave the sector, reduced the related altcoin projects such as YFI, FTM and SOLID by double digits. In the last 24-hour timeframe, we see that the top 100 Ethereum whales have sold $10,000 worth of YFI tokens. The 3X Short Bitcoin Token (BEAR), one of the derivatives of the FTX exchange, is another cryptocurrency that whales are getting away with. With these altcoins, the overview of the list is as follows.
- Tether (USDT)
- USD Coin (UDC)
- Binanace USD (BUSD)
- Ethereum (ETH)
- Paxos Gold (PAXG)
- Polygon (MATIC)
- Nexo (NEXO)
- Wrapped Bitcoin (WBTC)
- Yearn.finance (YFI)
- 3X Short Bitcoin Token (BEAR)
Whales focus on these altcoins
The chart below provided by WhaleStats shows the altcoin projects that whales have focused on in the last 24 hours.
- Yearn.finance (YFI): Most traded cryptocurrency
- UniSwap (UNI): Widely held among whales
- FTX Token (FTT) : The largest token position in dollar terms
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