Ethereum Whales Rise On These Altcoins!

Ethereum whales have turned their attention to smaller-volume projects to try to profit in the bear market, as the bulk of the crypto continues to drop. On-chain data shows that whales are clearly gravitating towards risky cryptos like the Shiba Inu.

What altcoin projects are Ethereum whales investing in?

Following the popularity of meme coins like Dogecoin and Shiba Inu, the market has seen more altcoins, meaning its luck. Others stepped forward to take their positions when the market was down and these popular meme coins were losing their value and investment appeal.

Ethereum Whales Chose This Altcoin

According to data from WhaleStats, Ethereum whales are still accumulating meme coins. The whales are investing quite actively, as evidenced by the high volatility in small-cap altcoins. One in particular stood out, with Ethereum whales holding more than $3 million worth of tokens.

ShibDoge stands out after Shiba and Doge As we mentioned, ShibDoge is a meme coin that combines the popularity of Shiba and Dogecoin in a single token. According to the whale wallet tracker, the largest Ethereum whales allocate an average of $3,184,962 to this crypto. Other tokens that whales hold in significant quantities include VOY, PAN, ANCT and THX. The general view of the list is as follows.

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The ShibDoge’s popularity came after the Shiba Inu overtook the FTT. With a market cap of $519,584,933, SHIB currently accounts for 13.46% of whales’ total assets. In other words, it is the third largest HODL after ETH and USDC.

Other altcoins that whales buy

The trading volume of the largest whales also reveals the cryptocurrencies they are trending towards. In addition to the typical favorites that make up the list, there have been some new entries that have made a splash among whales in the last 24 hours.

The next crypto on the list, FTX Token currently has the highest trading volume. ShibDoge is making a name for itself. The first is that it has an average trading volume of over $3 million. It also ranks second among the tokens with the highest trading volume in the last day.

Stablecoin USDC is in third place. Next, ETH, BUSD and USDT take the 3rd, 4th and 5th places respectively. DAI is in sixth place. So Ethereum whales and stablecoins alike seek protection.

Other altcoins left on the list are LINK, CRV and UNI. Listed especially UNI is particularly interesting. As the DEX enters the NFT market, the announcement and upcoming airdrop from Uniswap buy market aggregator Genie has reignited interest in the token.

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Larry Brown

I graduated from Yale University, Department of Television. I have been a professional news writer for 3 years. I am continuing my career here by establishing site 3 months ago.