According to new data, Ethereum (ETH) whales are swooping up gaming and social altcoins as the crypto market recovers from its most recent downturn.
As per the whale-surveying platform WhaleStats, the top 1,000 ETH whales are buying metaverse tokens, stablecoins, and ETH-based altcoins worth millions of dollars.
WhaleStats has recently revealed that the top ten coins purchased by deep-pocketed ETH investors in the last day are the king altcoin Ethereum itself, followed by stablecoin USD Coin (USDC).
Chiliz (CHZ), a platform for tokenizing sports and esports to encourage fan engagement, is ranked third, with stablecoin Tether (USDT) ranking fourth.
Polygon (MATIC), an Ethereum rival, is ranked fifth, followed by Axie Infinity (AXS), a play-to-earn blockchain-based game, and Decentraland (MANA), a virtual reality platform.
Synthetix (SNX) and yearn.finance (YFI) are the eighth and ninth most valuable decentralized finance (DeFi) platforms, respectively. A virtual world based on Ethereum The Sandbox (SAND) completes the list.
According to WhaleStats, the 79th-wealthiest ETH whale received a whopping 144,842,922 CHZ tokens worth approximately $45.7 million, bringing Chiliz to just under 8% of the crypto investor’s portfolio.
Another notable transaction by the same whale was its $4.44 million purchase of 4,967,667 WOO tokens. WOO is an Ethereum-based cryptocurrency that serves as the native utility token of WOO Network, a decentralized fintech startup, and pool trading platform.
CHZ is currently trading at $0.3238, up 3.21% from its seven-day low of USD 0.25, while WOO is at $0.96.
Chiliz Price Chart – Source: CoinMarketCap
The whale-watching website also lists the 104th-ranked ETH whale as having purchased 399,999 MATIC worth $1.05 million.
At the time of writing, MATIC was trading at USD 2.81, an over 8% increase from its seven-day low of $2.05, for the day.
Polygon Price Chart – Source: CoinMarketCap