Whales, the biggest investors, continue to buy and sell cryptocurrencies. According to the latest data, there are certain altcoins that whales are trading in focus. Here are the altcoins that investors buy and sell…
Whales sold the most altcoins
The top 100 Ethereum (ETH) whales have been selling stablecoins like USDT, USDC, TUSD recently, according to WhaleStats data. First of all, whales sold $621,814 USDT, according to the data. cryptocoin.com As we have also reported, USDT is the largest stablecoin by market cap. On the other hand, Ethereum whales sold $398,000 staked Ethereum (stETH) and $397,118 wstETH.
USDC, the second largest stablecoin, was also on the whales’ sell list. Whales sold $101,777 USDC. On the other hand, 58,000 dollars of wBTC, 10.1 thousand dollars of TUSD, 10 thousand dollars of aUSDT were sold. Finally, 363,708,247 coins worth $3,989 were sold from the popular meme coin Shiba Inu (SHIB), 1 coin worth $1,827 from aSTETH, and 921 coins worth $1,105 from Polygon (MATIC).
These are the altcoins that whales buy
On the other hand, according to WhaleStats data, the top 100 Ethereum whales are buying various stablecoins. The most purchased coin was USDT with a purchase of $567,955. Then, aWETH was purchased with $560,653, stETH with $398,430, wstETH with $397,118, and aSTETH with $396,852. Most of these coins appear as Ethereum liquid staking derivatives. Considering that the coins staked on the ETH network will be withdrawn soon, it may be normal to buy and sell ETH subject to liquid staking.
Liquid staking was created as an alternative to traditional staking, offering flexibility and greater efficiency. Specifically, it allows stakers to access their assets while continuing to enjoy the benefits of staking their tokens. Those who stake the tokens agree to lock their assets for a certain period of time. By doing this, they may miss out on opportunities to make a profit by trading or otherwise using their tokens. However, through liquid staking, networks enjoy the security associated with staked tokens. At the same time, token holders have the ability to use their assets as they wish while continuing to receive staking rewards.
Finally, the biggest Ethereum whales are buying $91,451 worth of USDC, $57,332 worth of wBTC, $19,924 worth of BUSD, $4,144 worth of MATIC and $2,911 CRV. Meanwhile, it is worth highlighting that BUSD is also a stablecoin pegged to the US dollar.
