After Accumulating $881,000,000 in Shiba Inu and Polygon, Whales Are Now Targeting Two Ethereum-Based Altcoins
After gobbling up nearly $900 million worth of Shiba Inu (SHIB) and Polygon (MATIC), crypto whales now have their eyes on two other altcoins running on the Ethereum (ETH) blockchain.
Blockchain-tracking service WhaleStats reveals that the largest 1,000 Ethereum whales have accumulated more than $671 million worth of SHIB and $210 million worth of MATIC.
According to WhaleStats, SHIB remains the top altcoin holding among the investor cohort, excluding ETH itself and the stablecoins Tether (USDT) and USD Coin (USDC), with MATIC just behind the Dogecoin (DOGE) rival.
After MATIC, the largest 1,000 Ethereum whales are feasting on Lido Staked Ether (stETH), a liquid staking derivatives token on Lido Finance that can be exchanged to Ethereum on a 1:1 basis. WhaleStats shows that Ethereum whales hold $174,821 worth of stETH on average.
Decentralized oracle network Chainlink (LINK) follows stETH, with the largest 1,000 ETH whales owning $158,393 worth of LINK on average.
WhaleStats also reports a surge in LINK whale accumulation in a one-day period.
“JUST IN: LINK now on top 10 purchased tokens among 1,000 biggest ETH whales in the last 24 hours.”
At time of writing, LINK is trading for $8.05, up over 4% in the past day.
Data from WhaleStats also reveals that the Ethereum whales currently hold more than $1.76 billion worth of stablecoins USDT and USDC, taking up over 30% of their crypto portfolio. The sizeable allocation to stablecoins suggests that Ethereum whales are being cautious after marketwide rallies this year.
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The post After Accumulating $881,000,000 in Shiba Inu and Polygon, Whales Are Now Targeting Two Ethereum-Based Altcoins appeared first on The Daily Hodl.
