According to data provided by WhaleStats, Ethereum (ETH) whales are consolidating their wallets with a metaverse coin while selling the leading cryptocurrency Bitcoin (BTC). According to
WhaleStats, this metaverse coin is whales favorite
Whale bot WhaleStats said that since last week, the top 100 ETH whales spent an average of $493,764 on Blockchain-based gaming platform The Sandbox (SAND). He discovered that it was selling an average of $501,243 in Wrapped Bitcoin (WBTC). According to statistics, SAND has one of the biggest exits among Ethereum whales at $413,765, but the total net inflow is $79,999.
On the other hand, Wrapped Bitcoin did not make it to the top 10 in the list of most purchased cryptocurrencies, despite being ranked sixth among high-net-worth ETH wallets. WBTC is an Ethereum-based stablecoin tied to Bitcoin in a 1:1 ratio.
A large amount of Bitcoin flows to the exchanges
As we reported as Kriptokoin.com, there was a sudden increase in Bitcoin outflows since approximately $406.8 million left the exchanges on April 7th. While institutional entries and smaller-scale investments in Bitcoin (BTC) may not do so well with Ethereum (ETH) whales, crypto analytics firm Glassnode reports that institutional entries and smaller-scale investments in BTC are on the rise:
MicroStrategy Bought another $190 million worth of Bitcoin (BTC). He buys large amounts of Bitcoin in small businesses. Institutional money (Grayscale Bitcoin Trust) and Purpose BTC ETF are flowing. New money enters the market, reducing the likelihood of a sharp correction.
Bored among other prominent tokens with positive entries in the past week It includes ApeCoin (APE), Chainlink (LINK), Polygon (MATIC), a layer-2 Ethereum scaling solution, and Yearn Financial (YFI), a decentralized finance platform from Ape Yacht Club. Cryptocurrency giant FTX’s native token, FTX Token (FTT), and a decentralized derivatives trading platform, Serum (SRM), are two other cryptocurrencies that have seen positive inflows in the previous seven days.
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