The largest crypto whales in the Ethereum ecosystem are utilizing the market dip to purchase more ETH, dollar-pegged stablecoins and seven additional altcoins running on the leading smart contract platform.
According to the crypto whale tracker WhaleStats, the largest 1,000 non-exchange Ethereum wallets have accumulated an average amount of approximately $365,000 worth of ETH, $154,000 of Tether (USDT) and $43,000 of USD Coin (USDC) over the last 24 hours.
Moving down the list of most purchased tokens by Ethereum whales over the last day, we see an accumulation of the decentralized exchange (DEX) token Uniswap (UNI) and blockchain oracle Chainlink (LINK) at an average amount of approximately $1,500 per coin.
That’s three times the amount that whales have been gobbling up memecoin Shiba Inu (SHIB), which saw an average purchase amount of $511 worth of SHIB over the same period.
It appears Ethereum whales are also feeding on small to mid-cap krill such as the metaverse gaming altcoin The Sandbox (SAND), decentralized finance (DeFi) platform UMA (UMA), and gold-backed Paxos stablecoin PAX Gold (PAXG).
Aside from Ethereum, USDT, and USDC, whales have been accumulating Ethereum layer-2 solution Polygon (MATIC) more than any other altcoin over the past day, at an average purchase amount worth approximately $32,000.
Polygon has been so popular amongst Ethereum whales that the fourth-largest whale in existence just added 8,000,000 MATIC worth $16.5 million to its ever-expanding belly.
At the time of purchase, the 8 million MATIC was worth over $16 million.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Frame Stock Footage/CHIARI VFX