1INCH Flips Tether On Ethereum Wallet Holdings Ranking

Due to growing demand from whales, 1INCH has surpassed Tether’s USDT and Shiba Inu (SHIB) in the ranks of the cryptocurrencies owned by the top 100 Ethereum wallets.

On September 6, the 1inch Network stated that a total of 300,000 Optimism (OP) tokens would be given among its users in order to incentivize their involvement on the Optimism Network.

The token flipped USDT, the largest stablecoin by market cap, and SHIB, the second-largest meme-inspired digital asset in terms of top-10 Ethereum wallet holdings.

The average number of 1INCH owned was 15,877, equating to $6.6 million in total held. The average amount of USDT held was somewhat more than $6 million, whereas SHIB was approximately $1.5 million.

Source: whalestats.com

Overall, the top 100 Ethereum wallets owned over $668 million in 1INCH, representing 17.92% of the total. The entire value of USDT and SHIB held was around $605 million and $155 million, respectively.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.