New data reveals that the world’s largest Ethereum (ETH) whales are swallowing stablecoins and other altcoin projects as Bitcoin (BTC) struggles below $40,000.
Whales are stocking up on these 10 altcoin projects!
According to whale-watching bot WhaleStats, the top 1,000 Ethereum wallets over-the-counter have bought hundreds of thousands of dollars worth of stablecoins USD Coin (USDC), Tether (USDT), ETH, and Binance USD (BUSD). Deep-pocketed investors also accumulated an average of $62,569 in Polygon (MATIC), and then bought it in another stablecoin, flexUSD.
Hex comes in at number seven as Ethereum whales make an average of $28,133 purchases in a cryptocurrency designed to replace a certificate of deposit. The decentralized oracle network Chainlink (LINK) ranks eighth with an average purchase amount of $27,934. The anti-advertising web browser Brave and Wrapped Bitcoin (WBTC) are also listed.
Giant whales are swallowing these 2 altcoins!
WhaleStats also shows that some of the richest Ethereum whales in existence made large individual purchases during the crypto market pullback. The fourth largest Ethereum whale on the planet has purchased around 200,000 LINK worth an astonishing $3.90 million and 1,000 Makers (MKR) worth around $1.96 million.
MKR is the Ethereum-based management token of MakerDAO, a decentralized autonomous organization (DAO) used to protect and regulate stablecoin DAI. The 141st-ranked ETH whale also purchased $1.69 million worth of LINK tokens. The big wallet also added $2.24 million worth of MATIC to its portfolio. Finally, the 475th-ranked Ethereum whale bought 326,994 SUSHIs worth $1.84 million. SUSHI is the management token of the decentralized cryptocurrency platform SushiSwap.