Fresh on-chain data shows the world’s biggest Ethereum whales are turning their attention to a diverse array of altcoins in multiple sectors as ETH itself struggles on the price charts.
The latest numbers from WhaleStats reveal the investment behavior of the 100 wealthiest non-exchange Ethereum addresses.
The whale-monitoring website shows the top players are fond of ApeCoin (APE), the Ethereum-based altcoin affiliated with the Bored Ape Yacht Club non-fungible token collection. According to WhaleStates, the deep-pocketed investors bought an average of 13,592 APE for a cost of $53,690.
APE was the second-most purchased digital asset among Ethereum whales other than US Dollar Coin (USDC), a stablecoin that seeks to peg its value to the US dollar.
The whales are also keen on fellow stablecoin Tether with an average purchase amount of 47,482 USDT for $47,451.
Fourth on the list is PAX Gold, an Ethereum-based token issued by blockchain infrastructure platform Paxos that’s backed by physical gold. The whales scooped up an average of 10 PAXG for a price tag of $18,278.
The Ethereum-based stablecoin Dai (DAI) ranks sixth among whale buys, with wallets nabbing 9,358 DAI for an average of $9,376.
Coming in seventh is Wrapped Ethereum (WETH), a token designed to keep a 1:1 ratio to the value of ETH. The whales acquired four WETH tokens for an average of $4,290.
Next up is Synthetix Network (SNX), a cryptocurrency powering the trading of synthetic assets on the Synthetix platform. The largest ETH whales purchased 2,113 SNX tokens on average worth $4,290.
At number nine is layer-2 scaling solution Polygon (MATIC), with the ETH whales socking away an average of 3,953 MATIC for $1,408.
Last on the top-10 list is SUSHI, the governance token of the decentralized exchange SushiSwap. The whales each tucked away an average of 1,369 SUSHI for $1,334.
Check Price Action
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on TwitterFacebook and Telegram
Surf The Daily Hodl Mix
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 own. 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/Ekaterina Glazkova