The cryptocurrency market slumped to 1.2 trillion in early May as the Terra ecosystem collapsed. Accompanied by a volume loss of about $500 billion, the market has eroded about 60% since November ATH. So, which altcoin projects are on the list of the most bought recently? Here are the altcoins that whales bought while SHIB and Bitcoin were down.
Ethereum whales collect these altcoins instead of SHIB
As we have covered in our analysis of Cryptokoin.com , Shiba Inu (SHIB) is a typical whale token It is considered. While the cryptocurrency market was in free fall in March, we saw DAI and MKR rise to the top of the best-bought list. Meanwhile, stablecoins USDC, USDT and BUSD maintained their trading volumes. Looking at the last 24-hour time frame, it seems that whales have increased their WOO and SNX transactions.
Synthetix (SNX) is the native cryptocurrency of Synthetix, a synthetic asset (Synth) issuance protocol built on Ethereum. Synths, which track the price of assets such as SNX, gold, silver, oil, and Bitcoin, are used as collateral to issue Ethereum-based tokens. Wootrade (WOO), positioned at the third place on the list, is a low-fee Kronos Research launcpad project that aims to improve the diversified liquidity of the cryptocurrency market. The overview of the list is as follows:
- USD Coin (USDC)
- Tether (USDT)
- Wootrade Network (WOO)
- Synthetix (SNX) In the second part, let’s list the smart contract platforms most used by Ethereum whales. Even though USDC is used in 10% of all transactions, it has been low in the last 24 hours. The list also includes stablecoin types such as PAXG and CHSB. Popular metaverse coin project GALA rounds out the list last.
When we look at the incoming view, it is seen that AAVE is frequently used in this field.
- Tether (USDT)
- Ethereum (ETH)
- Aave (AAVE)
- USD Coin (USDC)
- Synthetix (SNX)
- Paxos Gold (paxg)
- MIMO
- DAI
- Gala Games (GALA)
SHIB whales awaken again
Shiba Inu (SHIB) has recently returned to the list of top 10 purchased tokens among the top 500 Ethereum whales.
JUST IN: $SHIB @Shibtoken is back on top 10 purchased tokens among 500 biggest #ETH whales in the last 24hrs 🐳
Peep the top 100 whales here: https://t.co/tgYTpOm5ws
(and hodl $BBW to see data for the top 500!)#SHIB #whalestats #babywhale #BBW pic.twitter.com/L1DJjVuTQV
— WhaleStats (tracking crypto whales) (@WhaleStats) June 3, 2022
#1 on the list is Ethereum (ETH) because each whale on the list averages 198.014 ETH is holding. Currently, SHIB ranks 4th on the list below FTX Token and above USDT as the average value of SHIB each whale has is around 462,898,625,067, which is around $5,104,584 at current prices. According to CoinMarketCap data, the price of SHIB has risen slightly over the past 24 hours to $0.00001086. You can find the Shiba Inu news that we have prepared as Cryptokoin.com here.
