Santiment says that Binance Coin (BNB) whales have increased their altcoin buying activity recently, which could be a sign of an upcoming trend reversal, according to the firm. On the other hand, the top 100 Ethereum whales tracked by WhaleStats bought massive amounts of MANA, GRT and LINK today, especially Apecoin (APE).
APE, MANA, GRT, LINK, MATIC and SNX whales listed
Top 100 Ethereum whales tracked by WhaleStats continue to accumulate APE and MANA as the cryptocurrency market bleeds day by day. BTC, ETH and other altcoins have been on the decline since the last days of March, as we covered in the cryptokoin.com analysis. The downward momentum is gradually cooling off with new buyers coming in from the bottom prices. MANA, GRT, LINK, MATIC, and SNX were common on the whales’ top-buying cryptocurrencies list as the selling pressure continued. It seems that whales are valuing metaverse and NFT-driven tokens at discounted prices.
The cryptocurrency market’s largest daily trading volume comes from stablecoins. USDC, BUSD, and USDT are popular stablecoins that whales seek to escape diver price action. The general view of the list with these tokens is as follows.
- USD Coin (USDC)
- Binance USD (BUSD)
- Apecoin (APE)
- Ethereum (ETH)
- Tether (USDT)
- Decentraland (MANA)
- Graph Token (GRT)
- Chainlink (LINK)
- Polygon (MATIC)
- Synthetix (SNX)
Whales are accumulating these small volume altcoin projects
The following list is the small volume altcoin projects most bought by Ethereum whales. PAR Stablecoin (PAR) is a stablecoin pegged to the Euro. DeGate (DG) is Ethereum layer-2 (L2) DEX protocol and S.Finance (SFG) is DeFi project that provides currency exchange service. These altcoin projects have a market capitalization of between $5-15 million.
Meanwhile, Santiment reported that whales holding between 1,000 and 10,000 Ethereum suddenly added a total of 142,000 ETH. The backlog comes after a nearly four-month recession stretching back to the end of last year