ETH whales are buying 3 altcoins as the market recovers
2 min read
As BTC and cryptocurrencies in general begin to show signs of recovery, new data reveals which tokens ETH whales are most interested in accumulating.
Data recorded on the blockchain show that the largest ETH whales are very interested in the metaverse ecosystem. So they’re buying MANA, the Decentraland metaverse token.
The data computed by the tracker WhaleStats show that, on average, each purchase of MANA made by an ETH whale totaled US$74,320, on average, in the last 7 days.
But MANA isn’t the only gamecoin big ETH investors are eyeing.
That’s because whales are also accumulating native play-to-earn game tokens. This includes the game The Sandbox (SAND), with an average purchase value of $27,333 per transaction.
Metaverse Tokens
In third place is the Gala (GALA) gaming ecosystem token, averaging $26,339 per ETH whale purchase.
It is noteworthy that all three cryptoactives had extremely volatile price movements in recent days, along with the rest of the cryptocurrency markets. However, they have been recovering their value and rising more than 20%, as is the case with SAND.
At the time of publication, MANA was priced at $5.11, up 16.6% in the past 24 hours. SAND, meanwhile, rose 27.23% on the last day and is changing hands at $7.61. Finally, the GALA token rose 25.3% in the same period, and is trading at US$0.72.
Altcoins preferred
Looking at the top ten altcoins bought by ETH whales, there are also stablecoins. In this case, USDC purchases exceed USDT purchases in the whales’ preference.
In addition, big traders are also massively buying the FTX token from the eponymous exchange, indicating a high volume of ETH traders on the platform.
Another token purchased by whales is an ETH competitor, Polygon (MATIC). The token that feeds the blockchain focused on smart contracts has been pointed out as a major competitor for ETH.
