Cryptocurrency whales first attacked the popular meme coin Shiba Inu (SHIB) and the recently popular altcoin Polygon (MATIC), making a hefty $881 million. Whales are now chasing two Ethereum-based altcoins.
The whales have had their fill of SHIB and MATIC!
cryptocoin.comAs you follow, the crypto market is starting to heat up. In the heat of crypto waters, whales appeared and began to swallow the tokens they had caught sight of. Of these, Shiba Inu (SHIB) and Polygon (MATIC) were among the whales’ favorite tokens. Accordingly, the whales devoured SHIB and MATIC2 worth approximately $900 million. Crypto whales’ eyes are now focused on two other altcoin projects running on the Ethereum (ETH) Blockchain.
Whale-tracking platform WhaleStats reveals that the top 1,000 Ethereum whales have amassed $671 million worth of SHIB and $210 million worth of MATIC.
According to the whale watcher, SHIB remains the most-held altcoin among the investor group, excluding ETH itself and stablecoins Tether (USDT) and USD Coin (USDC). Also, MATIC comes right behind the popular meme coin Shiba Inu.
Whales have turned their eyes to these two altcoins
After MATIC, the 1,000 largest Ethereum whales are feasting on Lido Staked ETH (stETH), a liquid staking derivatives token that can be exchanged 1:1 for Ethereum on Lido Finance. WhaleStats shows that Ethereum whales have an average of $174,821 worth of stETH. The decentralized oracle network Chainlink (LINK) follows stETH with the 1,000 largest ETH whales owning an average of $158,393 worth of LINK.
WhaleStats also reported an increase in LINK whale accumulation over a one-day period. In this regard, “LINK is currently among the top 10 tokens purchased among the top 1,000 ETH whales in the last 24 hours,” he explained. At press time, LINK was trading at $7.93, up 13.9% on a weekly basis. However, the altcoin has seen some pullback on a daily basis.
Data from WhaleStats also reveals that Ethereum whales currently hold more than $1.76 billion worth of USDT and USDC stablecoins, taking up more than 30% of their crypto portfolios. According to experts, the massive allocation to stablecoins shows that Ethereum whales are cautious after market-wide rallies this year. Because stablecoins are indexed to the dollar, they are not affected by market volatility on a large scale like other cryptocurrencies.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram And YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.