According to the data, the largest Ethereum (ETH) whales are buying from the Shiba Inu (SHIB) and ApeCoin (APE) meme coins, which is relatively new to the cryptocurrency space. Here is the latest WhaleStats data…
ApeCoin has come into the focus of whales
Whale Stats, which provides whale data, shows the movements of the 100 richest ETH whales on the stock market. As we reported on Somagnews, whales are considered market players with significant funds that can move the cryptocurrency market. According to the digital asset tracking site, the trading volume among wealthy crypto investors over the past 24 hours has been noticeable thanks to The Sandbox (SAND). The sandbox is a metaverse. The platform’s token, SAND, seems to be popular among whales, a total of 115,191 tokens were sold.
In addition, whales are turning to Ethereum (ETH) and several stablecoins. Stablecoins are cryptocurrencies tied to the price of a certain asset. In this case, large investors buy stablecoins pegged to the US dollar. Whales, on the other hand, are attracted by ApeCoin (APE) Yuga Labs.
Developed based on the NFT collection called Bored Ape Yatch Club (BAYC), APE attracted investor interest after the release of new announcements about its first metaverse, The Other Side. After the announcement, $90,000 worth of tokens were bought and sold in just 24 hours. Notably, the sixth ETH whale, BlueWhale0097, bought 250,000 APES for $4,410,000.
MANA and SHIB are also in big wallets
Besides Apecoin, whales are interested in Decentraland (MANA) and Shiba Inu (SHIB). Over the past 24 hours, Whales have traded on MANA at $81,422 and on SHIB at $56,218. Meanwhile, the fifth largest ETH whale wallet called BlueWhale0073 bought SHIB for $5,454,792. At the time of writing, altcoins in the spotlight of whales are on the decline. Ethereum (ETH) fell 4.3% to $2,880, SHIB declined 4% to $0.00002320, and MANA fell 4.6% to $1.84. On the contrary, APE grew by 4%.