After Raising $881,000,000 in Shiba Inu and Polygon, Whales Now Target 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 in SHIB and $210 million in MATIC.
According to WhaleStats, SHIB remains the top altcoin holding among the investor cohort, excluding ETH itself and stablecoins Tether (USDT) and USD Coin (USDC), with MATIC just behind its Dogecoin (DOGE) rival.
After MATIC, the largest 1,000 Ethereum whales stake Lido Staked Ether (stETH), a floating derivative token on Lido Finance that can be exchanged for Ethereum on a 1:1 basis. WhaleStats shows that Ethereum whales have $174,821 worth of stETH on average.
Decentralized oracle network Chainlink (LINK) follows stETH, with the largest 1,000 ETH whales owning LINK worth $158,393 on average.
WhaleStats too reports an increase in LINK whale accumulation over the course of a day.
“JUST IN: LINK now on top 10 bought tokens among 1000 biggest ETH whales in last 24 hours.”
At the time of writing, LINK is trading at $8.05, up over 4% in the last day.
Data from WhaleStats also reveals that Ethereum whales currently hold more than $1.76 billion worth of stablecoins USDT and USDC, taking up over 30% of their crypto portfolio. The significant allocation to stablecoins suggests that Ethereum whales are cautious after the market-wide rally this year.
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