Ethereum whales, i.e. individuals holding significant amounts of Ethereum, have become active in the crypto market recently. A recent analysis by WhaleStats, a website that tracks the top 100 Ethereum wallets, found that certain altcoins are favored by both buyers and bestsellers. Coins sold or bought by these Ethereum whales include stablecoins, cryptos like SAND, MATIC. Here are the details…
Whales added SAND and these coins to their wallets
Looking at the top 10 tokens purchased, the analysis shows that USDC (USDC) is the most purchased token by Ethereum whales, with a total of 876,567 coins. This is followed by USDT with the purchase of 779,320 coins, and Polygon (MATIC) with the purchase of 26,758 coins. Wrapped Bitcoin (WBTC) comes next. cryptocoin.com As we have also reported, wrapped BTC enables Bitcoin transactions on other networks. As a result, the list of the most purchased coins and the amount of tokens purchased are as follows:
- USDC: 876,567 tokens
- USDT: 779,320
- MATIC: 26,758
- WBTC: 0.969
- SAND: 40.016
- WETH: 12
- BUSD: 20.005
- DAI: 15,097
- aWBTC: 0.249
- LINK: 944
The most recently sold coins and their amount are as follows:
- AMP: 19,999,000
- SUSHI: 13.411
- RAD: 4.895
Having these coins on the list; may indicate that these coins are actively traded by Ethereum whales and are considered popular assets among them.
What do whale movements mean?
So what does this mean for the cryptocurrency market? It is important to keep in mind that Ethereum whales have a significant amount of power in the market and their actions can have a huge impact on the price and demand of certain tokens. The fact that some tokens are both sold and bought by these whales indicates market volatility or that tokens may experience price fluctuations in the near future.
It is also worth noting that USDC is the most sold token by Ethereum whales. USDC is a stablecoin that is pegged to the value of the US dollar and is often used as a hedge against market volatility. Overall, the analysis by WhaleStats provides valuable insight into the behavior of Ethereum whales and can be used as a way to inform trading strategies and investment decisions in the cryptocurrency market. While the market is notoriously unpredictable, following the movements of these big players can help investors stay ahead and make more informed decisions. Still, it’s important to note that every investor should invest based on their own research.
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