Whales Are Accumulating 10 Altcoins on Ethereum Competitor Avalanche, According to On-Chain Data

New data from a whale-surveilling website reveals which crypto assets are being devoured by the top 1,000 Avalanche (AVAX) whales.

According to WhaleStats, which recently began keeping track of the smart contract platform and Ethereum (ETH) competitor, deep-pocketed AVAX investors are, on average, snapping up thousands of dollars worth of stablecoins and other altcoins.

The top purchased token in the past day by AVAX whales is Magic Internet Money (MIM), the stablecoin of lending platform Abradacadabra.money, with an average purchase amount of $14,089.

Avalanche itself takes the number two spot with an average purchase amount of $13,899.

USDC.e and USDT.e, which represent stablecoins USD Coin (USDC) and Tether (USDT) respectively on the AVAX blockchain, sit at numbers three and four.

At number five is decentralized exchange (DEX) platform Pangolin (PNG) while decentralized reserve currency protocol Wonderland (TIME) grabs the sixth spot.

Avalanche-based decentralized exchange TraderJoe (JOE) lands at number seven followed by Wrapped Ethereum (WETH.e) and Wrapped Bitcoin (WBTC.e), which are Bitcoin and Ethereum tokens bridged over to the AVAX protocol.

Wrapped Avalanche (WAVAX) rounds out the list.

Source: WhaleStats

WhaleStats also shows that the top-held crypto assets by Avalanche whales are AVAX, WETH.e, USDC.e, JOE, USDT.e, MIM, WBTC.e, WAVAX, Wrapped Chainlink (LINK.e), and blockchain-based play-to-earn gaming token Cradaba (CRA).

Statistics show that Avalanche whales hold 2,440 AVAX tokens on average, worth $267.613, while the biggest token position by dollar value held by them overall is Wrapped Ethereum.

Avalanche is currently exchanging hands for $107 at time of writing, an 11% decrease from its seven-day high of $120.

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