The cryptocurrency market has experienced big drops especially in recent weeks and has been in a downtrend during this time. It is currently in a critical position that can determine whether it will rally to recovery during the week. So, which altcoin projects are the whales accumulating at the bottom price? Let’s answer with WhaleStats data…
Ethereum whales are buying these altcoins on the decline
According to data provided by WhaleStats, Ethereum whales have accumulated again in Shiba Inu (SHIB) and Apecoin (APE). The platform, which tracks the top 100 ETH whales, shows that giant wallets are buying from popular metaverse coins like GALA, MANA, AXS and SAND as the market has bled over the past 24 hours. While USDT, ETH, and USDC are typically the most traded coins by whales during volatile market times, interestingly the top-buy list welcomes multiple metaverse projects this time around.
Kriptokoin.com, as we covered in the analysis of Cryptokoin.com, the popular BAYC-backed NFT token Apecoin has been on the whales’ radar for a while. In the past week, we’ve seen multiple massive purchases for APE. All cryptocurrencies on the list lost more than 10% as Bitcoin traded below $33,000. Regardless, whales are accumulating the following altcoin projects, with purchases between $20 and $5,000.
- Tether (USDT)
- Ethereum (ETH)
- USD Coin (USDC)
- Shiba Inu (SHIB)
- Apecoin (APE)
- Gala Games (GALA)
- Wrapped UST Token (UST)
- Decentraland (MANA)
- Axie Infinity (AXS)
- The Sandbox (SAND)
Small-volume altcoin projects accumulated by whales
The WhaleStats chart below shows typical whale tokens with market caps between $5 and $15 million is showing. PAR, the euro-pegged cryptocurrency from Mimo, which develops DeFi tools, was the most traded token among whales this week.
Colizeum (ZEUM) is an altcoin project that allows tokenized game mods to easily build their games without prior knowledge of their existing games and Blockchain development. While the market was down today, ZEUM was up more than 3%.
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