Bitcoin has been consolidating for about two weeks to reclaim $30,000. Meanwhile, almost all the developments were around the Terra ecosystem. While the crash has enslaved the biggest altcoin projects in the market, from Avalanche to BNB Coin, it seems like Ethereum whales are determined to amass a number of metaverse coins.
Ethereum whales buy these altcoin projects on the decline
Market giants Bitcoin and Ethereum have not performed well in the past 30 days. Both fell 31% and 37% respectively. This caused serious damage to the market. Meanwhile, ETH whales were seen adding WBTC and wETH to their wallets. According to WhaleStats, a whale named “Saruman” has bought around $10.3 million worth of Ethereum in multiple transactions in the past 24 hours. ETH, which has seen more than $460,000 in purchases by the largest 100 Ethereum whales, is at the top of the list of the most bought today.
As the chart above shows, as the cryptocurrency market continues to fluctuate, Ethereum whales are taking shelter in safe havens such as USDC, BUSD, and USDT. Interestingly, Apecoin (APE), a popular BAYC-backed metaverse coin project, has reached the top 5 coins on the most bought list today. The general view of the list completed with Polygon (MATIC) is as follows.
- Ethereum (ETH)
- USD Coin (USDC)
- Binance USD (BUSD)
- Tether (USDT)
- 1) )Apecoin (APE)
- Paxos Gold (PAXG)
- Chiliz (CHZ)
- Dai Stablecoin (DAI)
- UMA (UMA)
- Polygon (MATIC)
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Whales increase their transactions in this voluminous altcoin
Small-volume cryptocurrencies, market cap from $5 to $15 million has. In this lane, typical whale tokens include Pendle, a protocol for tokenizing return and an AMM for trading with tokenized return and other time-decreasing assets. As we have mentioned in the analysis of Kriptokoin.com , Pendle (PENDLE) token was at the top of this list in the past weeks.
