Cryptocurrency markets experienced an unexpected drop the past day and lost 1% of their total value. Currently, the total market cap of cryptocurrencies has dropped to $1.19 trillion. Leading crypto assets, on the other hand, were affected by the negative mood in the markets. Despite all these negative and uncertain developments, whales continued to accumulate a DeFi token.
Ethereum Whales Buy WBTC
Whale-tracking platform Whalestats reports that amid price drops, prominent Ethereum whales continue to add DeFi tokens to their wallets. According to the data Wrapped Bitcoin (WBTC), stands out as one of the tokens accumulated by the largest ETH wallets. In the last 24 hours, whale wallets have purchased approximately $53.19 million worth of WBTC. At the time of writing, WBTC was trading at an average price of $28,805.
An ETH whale wallet called “Bluewhale” alone bought 1,646 Wrapped Bitcoins worth $47.44 million. Bluewhale is also worth $47.38 million Wrapped Ethereum (wETH) also bought. The transaction resulted in 27,238 WETH purchases.
Meanwhile, the whale is currently holding $53.9 million worth of wETH tokens. Wrapped Ethereum was trading at an average price of $1,767 at the time of writing. Earlier, it was reported that another ETH wallet added around $12 million worth of wETH.
However, Whalestats chainlink(LINK) has surpassed WBTC in its list of the most traded tokens among the top 500 ETH whales. LINK stands out as another DeFi token that has lost 50% of its value in the last 30 days.
Crypto markets left behind a forgotten May. While Bitcoin (BTC) price is trading around $ 28,800; The market cap of BTC fell by almost 27% in May to $549 billion.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.