Ethereum whales move in mysterious ways. We unravel the reasons behind the latest three altcoins catching their interest.
Covered:
- Ethereum Whales
- Compound (COMP)
- Decentraland (MANA)
- SwissBorg (CHSB)
Ethereum Whales Never Short On Surprises
We’ve covered the movements of Ethereum whales several times over the course of this year, and the results have always been interesting. This time is no exception. In fact, it might be the most interesting of all.
In the past, we’ve seen Ethereum whales scoop up the likes of LINK, MATIC, and SHIB — the latter of which is almost a permanent fixture. Those ETH-based tokens aren’t that surprising considering they all have their utility or fervent communities justifying the interest. But this latest round of altcoins making noise on the Ethereum whale charts aren’t as obvious choices.
Compound (COMP)
First up, we’ve got Compound (ticker symbol: COMP). COMP is a DeFi governance token for the Compound protocol. Many of you might be familiar with it from watching those videos on Coinbase. Despite that familiarity, the token hasn’t faired well in the last year, as evidenced by COMP’s yearly…
Yeah, that’s not a good-looking chart. Despite that, Ethereum whales are stocking up on the Defi token.
JUST IN: $COMP @compoundfinance now on top 10 purchased tokens among 100 biggest #ETH whales in the last 24hrs 🐳
Check the top 100 whales here: https://t.co/N5qqsCAH8j
Trending(and hodl $BBW to see data for the top 5000!)#COMP #whalestats #babywhale #BBW pic.twitter.com/pOkJ1kaAXc
— WhaleStats (free data on crypto whales) (@WhaleStats) August 7, 2022
Compound isn’t the only DeFi protocol to have suffered from the DeFi exodus over the course of the past year. However, there is reason for optimism for DeFi protocols like Compound. With the upcoming move to proof-of-stake for Ethereum, the ecosystem will open up to many more smaller investors willing to pay cheaper gas fees, as well as…
![Anticipation for Ethereum [ETH] 2.0 rises as metric reaches all-time high](https://crypto.newswireservice.net/wp-content/uploads/2023/01/ethereum-wale-1000x600-350x250.jpg)
