Whales Jump On SHIB And These DeFi Coins As Bitcoin Crashes!

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The biggest Ethereum whales seem to be accumulating meme token Shiba Inu (SHIB) and decentralized finance (DeFi) altcoins.

The whales focus on the Shiba Inu (SHIB)!

According to blockchain tracker WhaleStats, Ethereum whales, i.e. investors with at least 1,000 ETH in their wallets, continue to favor Dogecoin rival Shiba Inu. Currently, SHIB is the 10th most bought token among ETH whales in the past seven days. It is also the third most held coin among the whales in question. ETH whales are also buying from the DeFi sector, notably decentralized lending system Aave, DeFi platform Nexo, and deep liquidity network WOO Network.

According to WhaleStats, NEXO, AAVE and WOO are among the most bought tokens among ETH whales in the past seven days. Stablecoins USD Coin (USDC) and Tether (USDT) were the two most accumulated coins among ETH whales last week, followed by Ethereum and Binance’s BUSD. Wrapped Bitcoin (WBTC) is currently fifth on the list. As we reported earlier, WBTC is a token that represents Bitcoin on the Ethereum network. WBTC provides a way to use Bitcoin in smart contracts and makes the world’s largest cryptocurrency more accessible on decentralized exchanges (DEX). Wrapped Bitcoin price follows the price of Bitcoin as the two are locked in a 1:1 ratio.

FTX Token (FTT) also attracts investors

Data from WhaleStats also shows that the largest token position by dollar value among the largest ETH whales, excluding Ethereum, is currently the FTX Token (FTT). The whale-tracking tool reveals that big-pocket investors have an average of $14.84 million in FTT. The whales’ latest trend in token accumulation is taking place as Ethereum (ETH) is currently down 3% to $2,530. This may indicate that whales prefer to buy on the decline.