Ethereum Whales Jump in Multiple Altcoins as Bitcoin Battles to Break Above $40,000

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New data reveals that the world’s largest Ethereum (ETH) whales are gobbling up stablecoins and other altcoins as Bitcoin (BTC) struggles below $40,000.

According to whale watch bot WhaleStats, the top 1,000 non-exchangeable Ethereum wallets broke hundreds of thousands of dollars worth of stablecoins USD Coin (USDC), Tether (USDT), and Binance USD (BUSD) as well as and ETH itself in the last seven days.

Deep-pocketed investors also racked up an average of $62,569 from Polygon (MATIC), followed by flexUSD, another stablecoin.

Hex ranks seventh as Ethereum whales bought an average of $28,133 worth of the crypto asset designed to replace the certificate of deposit.

Decentralized oracle network Chainlink (LINK) takes eighth place with an average purchase amount of $27,934.

Basic Attention Token (BAT), the Brave and Wrapped Bitcoin (WBTC) anti-advertising web browser utility token, which represents Bitcoin on Ethereum on a 1:1 basis, completes the list.

Source: WhaleStats

WhaleStats also shows that some of the richest Ethereum whales out there are making huge individual purchases amid the crypto market pullback.

The fourth Ethereum whale on the planet bought nearly 200,000 LINK worth a staggering $3.90 million and 1,000 Maker (MKR) worth around $1.96 million. MKR is the Ethereum-based governance token of MakerDAO, a decentralized autonomous organization (DAO) that is used to maintain and regulate the DAI stablecoin.

The 141st ranked ETH whale also bought LINK – 86,475 tokens worth $1.69 million. The big wallet also added 1,099,996 MATIC worth $2.24 million.

Finally, the 475th ranked Ethereum whale bought 326,994 SUSHI worth $1.84 million. SUSHI is the governance token of the decentralized crypto exchange SushiSwap.

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Featured Image: Shutterstock/ParabolStudio/Natalia Siiatovskaia

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