Ethereum’s richest bagholders are currently loading up on one exchange token, plus three other altcoins in the decentralized finance (DeFi) sector.
According to data from blockchain tracking service WhaleStats, the top 100 Ethereum whales have their eye on WOO, the utility token that powers WOO Network, a decentralized exchange (DEX) that aims to provide deep liquidity and super-efficient order execution.
At time of writing, WOO is the most purchased altcoin amongst Ethereum’s 100 biggest whales within the last 24 hours, excluding stablecoins.
Behind WOO network, Ethereum’s biggest whales are accumulating three DeFi cryptocurrencies including the utility asset of non-fungible token (NFT) gaming protocol Aavegotchi (GHST), synthetic asset issuer Synthetix (SNX) and borrowing and lending protocol Aave (AAVE).
Looking at the top holdings of the largest Ethereum whales, FTT is at the apex of the list excluding ETH itself and stablecoin USD Coin (USDC). FTT is the exchange token of FTX, a cryptocurrency derivatives trading platform. WhaleStats shows that the top 100 ETH whales hold an average of 307,485 FTT tokens worth nearly $8 million.
Behind FTT is meme coin Shiba Inu (SHIB). WhaleStats reveals that the investor class owns over 462.89 billion SHIB tokens worth $5 million.
At time of writing, Ethereum (ETH) itself is priced at $1,870, up over 4% in the last 24 hours after trading mostly sideways in the past week.
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Featured Image: Shutterstock/Marko Aliaksandr/Andy Chipus