Biggest Ethereum Whales Flock to Apecoin, PAX Gold, Stablecoins and Three More Altcoins: On-Chain Data

Fresh on-chain data shows the world’s biggest Ethereum whales are turning their attention to a diverse array of altcoins in multiple sectors as ETH itself struggles on the price charts.

The latest numbers from WhaleStats reveal the investment behavior of the 100 wealthiest non-exchange Ethereum addresses.

The whale-monitoring website shows the top players are fond of ApeCoin (APE), the Ethereum-based altcoin affiliated with the Bored Ape Yacht Club non-fungible token collection. According to WhaleStates, the deep-pocketed investors bought an average of 13,592 APE for a cost of $53,690.

APE was the second-most purchased digital asset among Ethereum whales other than US Dollar Coin (USDC), a stablecoin that seeks to peg its value to the US dollar.

The whales are also keen on fellow stablecoin Tether with an average purchase amount of 47,482 USDT for $47,451.

Fourth on the list is PAX Gold, an Ethereum-based token issued by blockchain infrastructure platform Paxos that’s backed by physical gold. The whales scooped up an average of 10 PAXG for a price tag of $18,278.

Ethereum itself is in fifth place with the average buy-in of 12 ETH costing $13,690.

The Ethereum-based stablecoin Dai (DAI) ranks sixth among whale buys, with wallets nabbing 9,358 DAI for an average of $9,376.

Coming in seventh is Wrapped Ethereum (WETH), a token designed to keep a 1:1 ratio to the value of ETH. The whales acquired four WETH tokens for an average of $4,290.

Next up is Synthetix Network (SNX), a cryptocurrency powering the trading of synthetic assets on the Synthetix platform. The largest ETH whales purchased 2,113 SNX tokens on average worth $4,290.

At number nine is layer-2 scaling solution Polygon (MATIC), with the ETH whales socking away an average of 3,953 MATIC for $1,408.

Last on the top-10 list is SUSHI, the governance token of the decentralized exchange SushiSwap. The whales each tucked away an average of 1,369 SUSHI for $1,334.

Source: WhaleStats

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Featured Image: Shutterstock/Ekaterina Glazkova

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