Some of the world’s largest Ethereum (ETH) whales are gobbling up hundreds of millions of dollars worth of altcoins as the digital assets industry experiences a widespread pullback.
According to whale-surveying robot WhaleStats, Ethereum whales are currently accumulating layer-2 ETH solution Polygon (MATIC), crypto exchange FTX Token (FTT), oracle network Chainlink (LINK), decentralized finance protocol Aave (AAVE), and non-fungible token marketplace Enjin Coin (ENJ).
The 557th-largest whale splurged just over $36.5 million on 1,049,990 FTX Tokens and $8.8 million on 4,250,000 MATIC. The deep-pocketed investor also purchased 17,893 AAVE for $3.6 million and 61,401 LINK for about $1.5 million, according to WhaleStats.
WhaleStats also found that the fourth-ranked largest ETH whale on the planet, known as Light, hauled in 624,989 ENJ worth about $1.5 million at time of writing.
Another trend amongst whales found during the latest crypto market pullback is their purchasing of dollar-pegged stablecoins and gaming altcoins.
According to a list compiled by WhaleStats, the top ten purchased tokens by ETH whales in the last 24 hours are top altcoin ETH, Stablecoins USD Coin (USDC) and Tether (USDT), LINK, MATIC, Wrapped Bitcoin (WBTC), play-to-earn gaming token Yield Guild Games (YGG), crypto exchange MXC Foundation (MCX), ENJ, and gaming altcoin Gala Games (GALA).
The largest token quantities purchased by the whales were USDC and USDT, coming in 77,952 and 64,077 coins, respectively.
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