PI Global Investments
Bitcoin

Crypto Whales Are Pouring Capital Into One Ethereum-Based Altcoin As Bitcoin Taps $22,000: On-Chain Data

New data reveals Ethereum (ETH) whales are pouring hundreds of thousands of dollars into one altcoin as Bitcoin (BTC) rises to $22,000.

According to whale-watching protocol WhaleStats, the planet’s top 500 ETH whales are gobbling up FTX Token (FTT), the native digital asset of crypto exchange platform FTX.

Source: WhaleStats

The statistics show FTT is the third most acquired token among the deep-pocketed investors, only behind dollar-pegged stablecoin USD Coin (USDC) and leading smart contract platform Ethereum, which saw $709,711 and $281,822 in average purchases, respectively.

However, FTT had the highest net gain in terms of inflows as just $27,030 worth of the crypto asset was sold by the whales. USDC and ETH saw outflows of $881,683 and $132,139, respectively.

Source: WhaleStats

Rounding out the top five are two other stablecoins, Tether (USDT) and Binance USD (BUSD).

Other prominent crypto assets that crack the top 10 include oracle network Chainlink (LINK), stablecoin Dai (DAI), meme token Shiba Inu (SHIB), decentralized exchange platform Serum (SRM) and Ethereum scaling solution Polygon (MATIC).

The data also unveils that FTT overall is the sixth most held token by high-net-worth ETH whales behind stablecoins USDC and USDT, Dogecoin competitor ShibDoge (SHIBDOGE) and SHIB.

FTT comprises just over 3.5% of the whales’ portfolios, coming in with a total value of $224 million.

FTX Token is trading for $27.45 at time of writing, a slight decrease on the day.

Source: WhaleStats

Check Price Action

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp

Check Latest News Headlines

 

&nbsp

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/Maria_lh/Sensvector

Source link

Related posts

Bitcoin scams reported in Riverbend

Miles

Cardano, Bitcoin at Risk of Dropping Further Due to Bearish Flags – CoinQuora – Latest Cryptocurrency and Blockchain News.

Miles

CoinFLEX Announces ‘Significant’ Layoffs Amid $84M Dispute With ‘Bitcoin Jesus’

Miles

Leave a Comment

SUBSCRIBE TO OUR NEWSLETTER

Get our latest downloads and information first. Complete the form below to subscribe to our weekly newsletter.

    100% secure your website.