The top 1,000 over-the-counter Ethereum (ETH) whales seem to agree on which altcoin projects they like best.
Altcoin projects favored by whales
Data from crypto tracker WhaleStats shows that Shiba Inu (SHIB) and five other cryptocurrencies account for more than 50% of the non-ETH holdings of the largest Ethereum addresses. The top 1,000 ETH wallets currently hold over $1.72 billion in SHIB, accounting for 14.76% of their non-ETH holdings at the time of writing.
The same addresses also hold more than $1.53 billion in FTT, the native token of the FTX cryptocurrency market. The figure currently accounts for 13.18% of non-ETH whale assets. FTT, the 35th largest crypto asset by market cap, was trading at $42.80 at the time of writing.
The largest ETH wallets also hold more than $1.04 billion in stablecoin Tether (USDT), which is pegged to the US dollar and represents 8.93% of their non-ETH holdings. The fourth largest non-Ethereum holding is USD Coin (USDC), another dollar-pegged stablecoin. The largest ETH wallets hold more than $675.8 million in USDC, representing 5.79% of their non-ETH holdings.
The wallets also hold more than $560.6 million in OKB, a cryptocurrency issued by the OKEx Blockchain Foundation. The OKB utility token allows traders on the OKEx crypto exchange to pay fees, earn interest, and participate in new digital asset projects, currently trading at $28.32.
The sixth largest non-ETH holding of the top 1,000 ETH addresses is Gala (GALA). Ethereum whales have more than $534 million in GALA currently trading at $0.4389. GALA is used as a medium of exchange and a means of payment for the Gala gaming platform.
These six tokens represent over 52% of the non-ETH holdings of the top 1,000 Ethereum wallets.