Whales Sell These Altcoins: HODL Them!

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The cryptocurrency market has returned some of its gains from the beginning of the week today. Bitcoin (BTC), Ethereum (ETH), and Cardano (ADA) have lost nearly 5% in value over the past 24 hours, with the total crypto market cap falling below $1.9 trillion. Meanwhile, Ethereum whales are divesting a number of altcoin projects, notably FTX Token (FTT), Polygon (MATIC), and Axie Infinity (AXS), according to WhaleStats data.

Ethereum whales are selling these tokens

Data provided by WhaleStats shows that, with the exception of Ethereum (ETH), stablecoin giants USDC, USDT and BUSD are leaving whale wallets. Further down the list are FTT, the native cryptocurrency of the FTX exchange, and FTM from the Fantom network. While MATIC, CRV and AXS are the other best-selling tokens in the last 24 hours, we see BEST, the cryptocurrency of the BitPanda exchange, at the bottom of the list. The top 1,000 Ethereum whales have sold the following amounts of tokens in the past 24 hours.

The overview of the list is as follows, with more than $1 million in sales on ETH and USDC.

Ethereum (ETH)

USD Coin (USDC)

Tether (USDT)

Binance USD (BUSD)

FTX Token (FTT)

Phantom (FTT)

Polygon (MATIC)

Curve (CRV)

Axie Infinity (AXS)

BirPanda (BEST)

HODL basket of altcoin whales

The current WhaleStats chart shows that whales hold the most USD Coins, excluding ETH. In the recent analyzes we have reported as Somanews, we have seen that FTX Token (FTT) and Shiba Inu (SHIB) are generally ranked first in the HODL list. Current data shows that ETH whales are taking refuge in the stablecoin port, which is thought to be temporary. FTT and SHIB account for 13.03% and 12.56% of whale wallets, respectively, while the top 5 HODLs are complemented by USDT and other tokens.

Below is the list of cryptocurrencies that whales prefer for HODL.

USD Coin (USDC) – 13.22%

FTX Token (FTT) – 13.03%

Shiba Inu (SHIB) – 12.56%

Tether (USDT) – 9.85%

Other tokens – 9.77%

Polygon (MATIC) – 3.16%

Wrapped BTC (WBTC) – 3.13%

Decentraland (MANA) – 2.82%

BitPanda (BEST) – 2.81%

OKEx (OCD) – 2.65%