After the Bitcoin price pushed above $40,000 in hopes of a quick respite to the Russia-Ukraine war, investors’ selling at higher prices ended in the $39,000 region. While altcoin giants such as Ethereum, Solana, Avalanche and Cardano accompanied each move of the leading crypto with a slight rise, we witnessed the superior performances of LUNA and XRP in this process. In the continuation of the article, let’s take a look at how Ethereum whales are positioning in current market conditions over the last 24-hour time frame.
Ethereum whales are selling these altcoins/tokens
The WhaleStats chart below shows the top-selling cryptocurrencies in the last 24 hours by the top 100 Ethereum whales with an average value of $1.3 billion and an average of 170,642 ETH, 158 tokens, after excluding known exchanges and project wallets. USDT, USDC, and BUSD are the most traded stablecoins by whales in this time frame. Paxos Gold (PAXG), a tokenized gold product backed by gold, completes the top 5 names of its list along with Ethereum (ETH).
Polygon (MATIC) and Yearn.finance (YFI) are other altcoin projects divested by whales. cryptocoin.com As we have reported, the announcement of Andre Cronje, one of the famous DeFi developers, to leave the industry, had double-digits on related altcoin projects such as YFI, FTM and SOLID. In the last 24-hour timeframe, we see that the top 100 Ethereum whales have sold $10,000 worth of YFI tokens. The 3X Short Bitcoin Token (BEAR), one of the derivatives of the FTX exchange, is another cryptocurrency that whales are getting away with. With these altcoins, the overview of the list is as follows.
- Tether (USDT)
- USD Coin (UDC)
- Binanace USD (BUSD)
- Ethereum (ETH)
- Paxos Gold (PAXG)
- Polygon (MATIC)
- Nexo (NEXO)
- Wrapped Bitcoin (WBTC)
- Yearn.finance (YFI)
- 3X Short Bitcoin Token (BEAR)
Whales focus on these altcoins
The chart below provided by WhaleStats shows the altcoin projects that whales have focused on in the past 24 hours.
- Yearn.finance (YFI): Most traded cryptocurrency
- UniSwap (UNI): Widely held among whales
- FTX Token (FTT): Largest token position in dollar terms
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