Whales Are Bottom Fishing In These Altcoin Projects In The Fall!

Altcoin: Among other altcoins, FTX Token (FTT) was first on the radar of Ethereum whales today. According to on-chain data, whales are collecting these altcoin projects as the market drifts to the bottom.

Ethereum whales rushed to FTT token with this news

Ethereum whales may have gotten insider information before FTX announced an expansion to Canada on Friday, according to on-chain data. WhaleStats reported that the whale named “BlueWhale0116” alone received $782.6 million worth of FTX tokens. With this purchase, Whale has withdrawn over 33 million FTT tokens in just 2 transactions.

FTT rises to third place among the most purchased

The WhaleStats chart below shows which coins whales have bought the most in the last 24 hours. As we mentioned above, news of the FTX exchange’s expansion into Canada resulted in a whale stampede. Meanwhile, USDC and ETH were top among the other coins purchased. Given that the market is on the decline, it seems that whales are switching to stablecoins as safe havens.

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Further down the list, Polygon (MATIC) and Paxos Gold (PAXG) occupy positions 5 and 6. Maket (MKR), which has lost nearly 30% in value since last week, is in seventh place. Fetch (FET), which develops tools and infrastructure using artificial intelligence and cryptography, saw a purchase of $ 5,326 today. Interestingly, Gala Games (GALA), a popular metaverse project, tops the list at around $3.5. Looking at the overall outlook, the list of stablecoins in the first place is as follows.

  1. USD Coin (USDC)
  2. Ethereum (ETH)
  3. FTX Token (FTT)
  4. Tether (USDT)
  5. Binance USD (BUSD)
  6. Polyon (MATIC)
  7. Paxos Gold (PAXG)
  8. Maker (MKR)
  9. Fetch (FET)
  10. Gala Games (GALA)

Most traded small-volume altcoin projects

In the second part, let’s list the small-volume altcoin projects that are popular with Ethereum whales. PAR, a stablecoin pegged to the euro, is a typical whale token in this category.

Bottom Fishing Is Taken In These Altcoin Projects

The general view of the list is as follows.

  • PAR Stablecoin (PAR)
  • WaBi (WaBi)
  • indaHash Coin (IDH)
  • SpiderDAO Token (SPDR)
  • The Midas Touch Gold (TMTG)
  • Genfura Token (XCF)
  • Wrapped USTC Token (USTC)
  • Voucher Ethereum (vETH)

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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 amknews.com site 3 months ago.