While the cryptocurrency market has recently focused on recovery efforts in Bitcoin, whales and other large investors have different coins on their radar. Here is the purchase list including FET coin and others…
Nansen: FET coin and these cryptos are the focus of smart money
Data from blockchain analysis firm Nansen reveals that smart money has invested significantly in certain altcoins on the Ethereum network in the last 24 hours. According to data provided by Nansen, one of the largest investments by smart money investors on the Ethereum network in 24 hours was in Lido Finance’s stETH token. stETH, which received an investment of approximately $3.56 million, has recently become a popular choice in the DeFi space. stETH allows investors to stake their Ethereum and earn interest in return.
Another token that attracted the attention of smart money investors was Wrapped ETH (WETH). Data shows investors invested approximately $1.89 million in WETH. WETH is a tokenized Ethereum that allows investors to use Ethereum in decentralized applications (dApps). After WETH, the popular artificial zkea coin Fetch.ai came to the fore with an investment of $ 1.25 million. In the coins that follow FET, the investment amount drops significantly. For example, sUSDe, which ranks fourth, had an inflow of 383 thousand dollars. Generally speaking, according to Nansen data, other altcoins preferred by smart money investors are:
These investments highlight smart money investors’ confidence in the DeFi and staking ecosystems on the Ethereum network. Investments in staking tokens such as stETH and wstETH may also indicate investors’ bullish interest in Ethereum over the long term.
RCH token is also in the focus of whales
Apart from Nansen data, cryptocurrency market analyst @ai_9684xtpa revealed an interesting phenomenon. According to the analyst, a smart money investor took advantage of the BananaGun launch to buy the RCH token at a low price and sell it quickly, making a profit of $1.2 million. This investor spent 392.23 ETH to purchase 7.42 million RCH tokens. Despite paying a high “gas fee” at the opening, the investor made a profit by closing his position.
If the RCH token price had continued to rise, the investor could have made much more profit. However, this incident shows how smart money investors can move quickly to take advantage of arbitrage opportunities in the cryptocurrency market. As a result, Nansen data and market analysts’ findings reveal that smart money investors are increasing their investments in the Ethereum network. These investments underscore investors’ confidence in areas like staking and DeFi. Although the cryptocurrency market remains volatile, the movements of smart money investors continue to provide important clues about market trends.
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