Bitcoin slumped 17% to $23,000 today. Almost the entire altcoin market is following this trend. AAVE and CRV are the reddest altcoins with around 25%. However, despite this sale, Ethereum whales continue to accumulate AAVE. As
AAVE, COMP, LPT, and AUDIO collapsed, whales piled on the bottom
As Ethereum and other altcoins fell, some ETH whales turned their focus to various altcoin projects. At the time of writing, whale watching bot WhaleStats shows that crypto lending protocol Aave has been looted by ETH whales in the past 24 hours. Thus, AAVE became the third most purchased cryptocurrency among whales. WhaleStats data also shows that Ethereum whales purchased 151 AAVEs for $26,262. Additionally, whales are accumulating in the algorithmic and autonomous interest rate protocol Compound (COMP).
Whales gravitate towards these 2 little-known altcoin projects
Whales in the Ethereum network, interest in two altcoin projects operating in the decentralized media industry is showing. According to WhaleStats data, Livepeer (LPT) is currently the third most bought altcoin in the last 24 hours. On the other hand, again from the media industry, Audius (AUDIO) is currently the fourth most bought altcoin.
Livepeer is a Twitch-like streaming platform. Audius is working on a decentralized music platform that focuses on artists.
NuCypher, Abracadabra.money and Spell, other prey of altcoin whales
NuCypher, a cryptocurrency that provides cryptographic services such as access control and data protection (NU) ), another of the altcoins appearing in the list of the most bought altcoins by ETH whales. Considering stablecoins and ETH, NU is the sixth most bought altcoin on the list.
Abracadabra.money is a platform that allows users to deposit collateral in the form of interest-bearing cryptocurrencies. After NU comes Spell (SPELL), an Ethereum token that issues Abracadabra.money.
The last stablecoin on our list: PAX Gold (PAXG). PAXG is an Ethereum-based cryptocurrency. Issued by Paxos and backed by gold instead of fiay. When we look at the general view of the list, it seems that whales are accumulating in DeFi projects.
Whales sold a large amount of Bitcoin, here are the details
Over the past week, BTC witnessed a total outflow of $57 million, while month-to-date outflows amounted to $91 million. Similarly, Ethereum witnessed massive selling activity due to two major setbacks. While the delay of the Ethereum merge had a huge impact on the throughput, the separation of stETH from ETH made the situation worse. We have covered a detailed article on the subject here as Kriptokoin.com.
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