Ethereum whales have now shifted their attention to smaller cap cryptocurrencies in an effort to try and squeeze out some profit from the bear market as the large cap coins have continued to incur losses. These major investors are bringing these currencies to the public’s attention because they were previously unknown outside of their own community niches. Investors are showing an interest in whale holdings in lower cap coins due to the transfer of whales into Shiba Inu before it peaked.
Ethereum whales are still engaging in the meme currency craze, according to data from WhaleStats. They are still quite actively invested in the meme coin market, as indicated by their top holdings in the lower size altcoins. One in particular has drawn attention, with Ethereum whales holding tokens valued at more than $3 million.
The top Ethereum whale wallets hold an average of $3,184,962 of ShibDoge, according to the whale wallet tracker. Other tokens owned in significant quantities by the top whales include VOY, PAN, ANCT, and THX.
This comes after Shiba Inu passed FTX Token as the top 100 Ethereum whales’ second-largest token holding. SHIB currently accounts for 13.46% of these whales’ total holdings, and at $519,584,933, it is their third-largest holding behind ETH and USDC.
The top whales’ trading volume also reveals the cryptocurrencies they are bullish on. There have been some new entries that are making a splash among these top holders over the past 24 hours in addition to the typical favorites who have continued to make the list.
The next currency on the list is a new entry, while FTX tokens presently tops the list for the token with the highest trading volume. ShibDoge is creating a name for itself; with an average transaction volume of over $3 million, it is now ranked second among tokens with the highest trading volumes over the last day.
In comparison to ETH, BUSD, and USDT, USDC comes in third, fourth, and fifth, respectively. Another stablecoin, DAI, is ranked sixth, indicating that Ethereum whales are looking for shelter in stablecoins as well.
The remaining items on the list are LINK, CRV, and UNI, with UNI being a particularly intriguing inclusion. As the DEX enters the NFT market, the announcement of Uniswap buying market aggregator Genie and the impending airdrop have revived interest in the token.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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