The biggest Ethereum (ETH) whale seems to have started an intense altcoin hoarding spree while the cryptocurrency markets are in the red. With the overall crypto markets taken by storm, a whale is raising its crypto holdings to $12.3 million.
Opportunity for whales to accumulate altcoins
New data from the popular platform WhaleStats, which draws attention with its observations about cryptocurrency whales, reveals that the richest of the first 1000 Ethereum (ETH) wallets are on a feeding frenzy at surprising rates. The wallet known as Light settled on the decentralized oracle network Chainlink, spending $6.78 million to purchase 500,000 Chainlinks (LINK). The investor with a great depth of investment has come to the fore by investing over $1.7 million in UNI (for 199,999 units), the native token of decentralized exchange Uniswap.
The altcoin hoarding continued with Light ordering 799 PAX Gold (PAXG) for $1,552,961. PAXG is known as a digital asset backed by physical gold held in a trust. Crypto statistics platform WhaleStats said that the leading wallet also received two million digital advertising coins Basic Attention Token (BAT) for $1,325,338, and then spent $1,016,550 on a decentralized stablecoin, 600 Maker (MKR), to complete its altcoin purchases. The whale research platform also reported that the 25th largest ETH wallet known as Trinity has also entered Uniswap, fetching 498,067 UNIs for $4,412,873.
Trinity then made two major purchases of Chainlink, netting the first 158,198 LINK at $2,221,104. Trinity’s second round saw the whale upload 700,000 LINK for $9.82 million. Last on Trinity’s shopping list was the metaverse token Enjin Coin, with the whale receiving 1,733,983 ENJ for a price tag of $2,496,936. Just yesterday, WhaleStats reported that ENJ has entered the top 10 of the most purchased tokens. Since then, ENJ has not only moved up two places, but major acquisitions from Light and Trinity have also placed Chainlink, Uniswap and PAX Gold in the rankings.