Amid the recent selling pressure tossing BTC, SHIB and DOGE, FTX Token (FTT) is seeing heavy whale accumulation. Some of the biggest EThereum whales have bought million FTTs. It seems that whales continue to lack interest in exchange tokens.
Huge Ethereum whale buys million-dollar FTT instead of SHIB and DOGE
Despite the recent price drop, some of the biggest Ethereum whales have recently purchased FTT for over $550 million. A whale nicknamed “BlueWhale0116” has pulled a total of 15 million FTT into its wallet. According to Whalestats, this whale has a total FTT of $343.9 million. The largest of the purchases was approximately 15,000,000 FTT. Thus, the whale lost the largest transfer in the last 24-hour time frame. Unlike
BlueWhale0116, another whale named “BlueWhale0079” stocked a large amount of FTT in a single transaction. In total, it bought FTT worth $149.04 million. Looking at the details, the transactions show that this whale wallet left the address very quickly after it was discovered. Currently, the whale wallet only contains a total of $3.8 million worth of FTT tokens.
Another whale transaction was worth $1.1 million
Meanwhile, Whalestats reported yet another huge whale transaction. A whale named “Bonobo” bought a large amount of FTT at $25.7. Whale added approximately 1.1 million FTT to its wallet in two separate transactions. According to the data, ETH whales spent over $553.3 million in the last 24 hours to purchase massive amounts of FTT. As a result of this, FTX Token has reached the list of the most bought altcoins among the top 1,000 ETH whales in the last 24 hours. But despite all the whale purchases, the selling pressure continues.
Despite the efforts of the whales, FTX Token (FTT) lost 7%
As quoted by Kriptokoin.com, the price of FTT has seen a drop of more than 5% in the last 24 hours. At the time of writing, it is trading at an average of $24.00. It is important to keep in mind that this major acquisition has proven to fail to satisfy the prevailing selling attitude in the market.
Likewise, FTT has lost 7% since last week. In the market where most altcoin projects lost double digits, only FTT was down single digits. Because FTT is backed by crypto exchange FTX, investors see the token as a safer investment than other options. FTT has a market cap of over $3.2 billion. This makes it the 19th largest cryptocurrency.
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