Top 100 Whales Are Selling This Altcoin Project!


The cryptocurrency market has seen additional sales in recent weeks with news of lending platform failures. Aside from panic selling by miners and individual investors, Ethereum’s top 100 whales are rapidly moving away from these 10 altcoin projects.

Ethereum Whales have sold the highest number of 10 altcoin projects today

Active wallets in the cryptocurrency market have registered more than 147,000 addresses for the first time since November. Bitcoin’s (BTC) market cap fell another 33% in June as altcoins come under pressure. Data provided by WhaleStats shows that whales are selling most of the altcoins today, such as FTT, DEI and WOO. USDC, ETH, and USDT generally top this list. Interestingly, whales have also sold a lot on MCB and POLY today.

100 whales are selling this Altcoin project

USDC, one of the largest stablecoins by market cap, posted sales of over $ 1 million today. On the other hand, Ethereum is in second place with $ 79,000. However, Ethereum has lost more than 10% from last week. Meanwhile, Bitcoin’s price has also dropped by around 8%. Further down the list are USDT and FTT. The whales sold nearly $ 50,000 USDC today. FTT, the native cryptocurrency of the FTX exchange, is in fourth place with $ 39,000. The general view of the list is as follows.

  1. Currency USD (USDC)
  2. Ethereum (ETH)
  3. Cable (USDT)
  4. FTX Token (FTT)
  5. Fei USD (FEI)
  6. Wootrade Network (WOO)
  7. MCDEX Token (MCB)
  8. Polymatic (POLY)
  9. Pax Dollar (USDP)
  10. TrueUSD (TUSD)

As Bitcoin plummets, data shows whales are valuing

In the midst of the ongoing incident, data on the chain shows Bitcoin whales are quietly packing their bags. As reported in our analysis, Bitcoin is currently trading below $ 20,000. Meanwhile, ATH has lost around 70% of its price. During big sales like this, many investors liquidate their positions. However, this doesn’t seem to be the case with those holding more than 1,000 BTC.

New data from IntoTheBlock shows that during this decline, whales actually continued to accumulate.

Additionally, Juan Pellicer, a research analyst at blockchain analytics firm IntoTheBlock, said, looking at these data:

In the last multi-year bear market, Bitcoin whales took advantage of the buildup at a high rate, as indicated by the red arrow on the chart.

But Pellicer pointed out that although the balance of whales continues to rise, “so far we don’t see them doing it with the same intensity as the last bear cycle.” Earlier this week, blockchain analysis Glassnode also claimed that whales are aggressively raising their balance, receiving 140,000 Bitcoins per month directly from exchanges. According to Glassnode, whales currently hold 8.69 million BTC, or 45.6% of the total Bitcoin supply of 21 million.

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