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

New knowledge reveals Ethereum (ETH) whales are pouring a whole bunch of 1000’s of {dollars} into one altcoin as Bitcoin (BTC) rises to $22,000.

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

Supply: WhaleStats

The statistics present FTT is the third most acquired token among the many deep-pocketed buyers, solely behind dollar-pegged stablecoin USD Coin (USDC) and main good contract platform Ethereum, which noticed $709,711 and $281,822 in common purchases, respectively.

Nevertheless, FTT had the best internet achieve by way of inflows as simply $27,030 value of the crypto asset was bought by the whales. USDC and ETH noticed outflows of $881,683 and $132,139, respectively.

Supply: WhaleStats

Rounding out the highest 5 are two different stablecoins, Tether (USDT) and Binance USD (BUSD).

Different outstanding crypto property that crack the highest 10 embody oracle community Chainlink (LINK), stablecoin Dai (DAI), meme token Shiba Inu (SHIB), decentralized trade platform Serum (SRM) and Ethereum scaling resolution Polygon (MATIC).

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

FTT contains simply over 3.5% of the whales’ portfolios, coming in with a complete worth of $224 million.

FTX Token is buying and selling for $27.45 at time of writing, a slight lower on the day.

Supply: WhaleStats

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