Gigantic Whales SHIB, Not Bitcoin: This Is Playing To Altcoin!

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According to WhaleStats, which tracks whales on the blockchain, the world’s richest Ethereum (ETH) whales currently hold large amounts of one stablecoin and two additional altcoins. An altcoin project has surpassed Shiba Inu (SHIB) as the largest holding among the top 500 Ethereum whales.

USD Coin (USDC) in Whales wallet surpasses Shiba Inu (SHIB)

According to WhaleStats, the top 500 registered ETH addresses currently hold more USD Coin (USDC), Circle’s dollar-pegged stablecoin, than any other asset. Whales have $1.64 billion USDC, which represents 13.38% of their non-Ethereum assets.

Second on the list is the popular meme coin Shiba Inu (SHIB). The top 500 Ethereum whales hold more than $1.53 billion in SHIB, which is roughly 12.5% ​​of their non-ETH holdings. Shiba Inu, the 15th ranked crypto asset by market cap, was trading at $0.0000231 at the time of writing. The SHB price has dropped 14.36% in the last seven days.

The third-largest non-Ethereum holding of the richest ETH whales is FTT, the token of the crypto exchange FTX, founded by crypto billionaire Sam Bankman Fried. Whales hold more than $1.52 billion in FTT, which represents about 12.4% of their non-ETH holdings.

FTT is the exchange token of FTX, a cryptocurrency derivatives trading platform for futures, leveraged tokens and over-the-counter trading (OTC). The 25th-ranked crypto-asset by market cap was trading at $40.64, down about 11.56% from where it was priced a week ago.

Other altcoin projects owned by whales

WhaleStats noted on Twitter that the top 500 ETH addresses also host massive amounts of Ethereum scaling solution Polygon (MATIC) and metaverse coin Decentraland (MANA), Gala (GALA), and The Sandbox (SAND).

The top 500 Ethereum whales are also accumulating crypto exchange tokens, including Cronos (CRO), Bitpanda Ecosystem Token (BEST), SwissBorg (CHSB), and OKex’s utility token OKB.