Ethereum Whale Splurges $637,000,000 on One Crypto Exchange Token, Making It Top Traded Coin Among ETH Investors

A large Ethereum (ETH) whale has spent over half a billion dollars to load up on the native asset of a crypto derivatives exchange.

New data from whale-surveilling platform WhaleStats shows that the 105th-ranked Ethereum whale purchased 15,720,427 FTX Tokens (FTT) worth $637.14 million in a single transaction.

FTX Token is the utility token of FTX, a cryptocurrency derivatives trading platform for futures, leveraged tokens and over-the-counter trading.

The whale’s massive transaction pushes FTT to the top spot of tokens that have been bought the most across the largest 1,000 Ethereum wallets in the last 24 hours with an average purchase amount of $637,149.

FTT towers above Wrapped Ethereum (WETH), a crypto asset representing Ether at a 1:1 ratio, as well as stablecoin Tether (USDT) and Ethereum itself with average purchase amounts of $132,682, $42,230 and $30,641, respectively.

Source: WhaleStats

Excluding Ethereum, FTT is now the token with the largest aggregate US dollar value among the top 1,000 ETH addresses, overtaking popular meme coin Shiba Inu (SHIB). At time of writing, the largest Ethereum whales collectively hold $1.49 billion worth of FTX Tokens. Meanwhile, the same group of investors holds a total of $1.17 billion worth of SHIB.

Other coins that Ethereum whales are currently holding in large amounts include stablecoins USD Coin (USDC) and Tether, as well as OKB, the utility token that allows traders on crypto exchange OKEx to pay for fees, earn interest and participate in new digital asset projects.

Source: WhaleStats

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Featured Image: Shutterstock/eliahinsomnia/Andy Chipus/Vladimir Sazonov

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