Crypto Whales Are Focusing on Two Gaming Altcoins As Bitcoin and Ethereum Move to the Upside
Fresh data shows the world’s biggest Ethereum whales are stocking up on a pair of gaming tokens while the broader crypto markets maintain positive momentum after a sluggish start to the year.
The latest numbers from WhaleStats reveal the 1,000 wealthiest non-exchange Ethereum addresses are buying into Decentraland (MANA), a virtual reality world that runs on Ethereum.
In the past 24 hours, the whales have bought on average 1,500 tokens for an average total purchase price of $4,980. MANA has also cracked the top-10 of total holdings, sitting at the ninth slot with an average quantity of 100,905 for a valuation of $331,227.
Whalestats says that total site-wide MANA holdings among whales are worth over $333.6 million and accounts for 3.11% of their cumulative bags.
At time of writing, Decentraland is the 34th ranked crypto by market cap and trading for $3.34.
Also on the whales’ radar is Smooth Love Potion (SLP), a token used within the Axie Infinity (AXS) ecosystem to earn rewards and purchase creatures in the online battling game.
Whalestats reports that over the past day whales purchased on average 125,380 SLP for a total value of $4,696.
The price of Smooth Love Potion has been surging higher and higher all week as news spread that Axie Infinity developers planned to drastically cut future issuance of SLP to curtail inflation.
The token has more than tripled in value and is up another 38% today to $0.037.
Whalestats also posted some of the largest crypto purchases this week:
The 26th-largest wallet named Trinity bought 1,500,000 MANA for $4,980,000.
The 21st-ranked whale purchased 49,999,997 SLP for $1,998,612.
The whale ranked #305 helped itself to 657,998 tokens of layer-2 scaling solution Polygon (MATIC) for $1,322,576, then went back for seconds to the tune of $1,507,480 for 749,990 MATIC.
The 594th-biggest whale was not to be outdone, shelling out over $4 million to acquire 332,900 of UNI, the altcoin that powers the decentralized exchange Uniswap.
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