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- There is a trend of accumulating memes coins such as Shiba Inu is going on among Ethereum Whales, individuals that own 1,000 ETH or more in their wallets.
- Shiba Inu, or SHIB, is the 10th most bought token among ETH whales in the last seven days. Although, many among Ethereum Whales still give more priority to the meme coins biggest competitor, Dogecoin.
- Ethereum Whales are also attracted to DeFi ecosystems these days, including DeFi platform Nexo, deep liquidity network WOO Network and Aave, a decentralized lending system.
Meme coin Shiba Inu and a collection of other decentralized finance (DeFi) altcoins are becoming popular in circles of Ethereum Whales, as the largest Ethereum whales in existence are accumulating these coins.
A blockchain tracker, WhaleStats, revealed Ethereum whales, individuals who have at least 1,000 ETH in their wallets are still more inclined towards Shiba Inu’s biggest competitor, Dogecoin.
SHIB: The 10th Most Token Among Ethereum Whales
SHIB is recorded to be the third biggest holding among the investor cohort and the 10th most bought token among ETH whales in the past seven days.
There is also another growing trend among ETH whales, as they are inclining towards the DeFi sector, particularly deep liquidity network WOO Network, DeFi platform Nexo and decentralized lending system Aave.
According to WhaleStats, NEXO, AAVE, and WOO ranked sixth, seventh, and eighth-most purchased altcoins amongst ETH whales over the past seven days.
USD Coin (USDC), ETH (USDT) : The Most Accumulated Stablecoins
During the past week, stablecoins such as USD Coin (USDC) and ETH (USDT) have been among the most accumulated tokens, followed by Ethereum itself and Binance’s BUSD. On the fifth position of the list stands the Wrapped Bitcoin (WBTC).
According to the WhaleStats data, FTX Token (FTT) holds the biggest token position by dollar value among the largest ETH whales, excluding Ethereum. According to the whale-monitoring tool, wealthy investors have $14.84 million worth of FTT on average.
The latest trend of token accumulation among whales is started as the ETH grapples with coming out of its multi-month downtrend. At the time of writing, the price of ETH stands at $2,537.23.
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Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
