As it is known for a long time Ethereum most bought by whales altcoin was Shiba Inu (SHIB).
However, a surprise cryptocurrency It has become the new favorite of Ethereum whales.
Why Is Whale-Attacked SRM Soaring?
Solana-based DeFi token Serum (SRM) It has experienced a strong rally in the last 24 hours. It is said that the rise experienced by the cryptocurrency is due to the sale of NFT and some large whales buying this token, increasing their volume values.
SRM price rose 10% in the last 12 hours, climbing up to $2.54. However, the altcoin price seems to have recovered sharply from a one-month low.
The trading volume of the SRM token in the last 4 hours increased by 79% to $185 million.
The SRM project announced that a collection of 5,000 NFTs will be implemented on the Solana (SOL) network via Burnt Finance’s Ignition Launchpad. This new move of the project is thought to attract the attention of Ethereum whales.
Altcoin developers said in their statement that NFT holders will be allowed access to special sweepstakes and other events.
In addition, it has been reported that Whitelist members can mint NFT as of April 19, while the rest will be able to buy NFT from April 21.
With a total market capitalization of $334 million, Serum ranks 159th among the world’s largest cryptocurrencies.
Serum Altcoin Is The Most Bought Token By Ethereum Whales In The Last 24 Hours
With the latest development, SRM has become the most purchased token by Ethereum whales in the last 24 hours, according to WhaleStats data, surpassing FTX token and Shiba Inu (SHIB).
It has been learned that the Ethereum whale named “Three Arrows” has purchased a large amount of SRM. Whale added approximately 65 million Serum tokens worth $167.5 million to its wallet.
*Not investment advice.