Shiba Inu (SHIB) and Several Additional Altcoins Now Make Up Over Half of Ethereum Whale Holdings
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The top 1,000 non-exchange Ethereum (ETH) whales seem to have a consensus about which altcoins they like the best.
Data from the crypto tracker WhaleStats indicates the popular meme coin Shiba Inu (SHIB) and five other cryptocurrencies make up more than 50% of the non-ETH holdings of the largest Ethereum addresses.
The top 1,000 ETH wallets currently hold more than $1.72 billion worth of SHIB, making up 14.76% of their non-ETH holdings at time of writing.
Those same addresses also hold more than $1.53 billion worth of FTT, the native token of the FTX cryptocurrency marketplace. The figure currently makes up 13.18% of non-ETH whale holdings. FTT, the 35th-largest crypto asset by market cap, is trading at $39.56 at time of writing.
The largest ETH wallets also hold more than $1.04 billion worth of the stablecoin Tether (USDT), which is pegged to the US dollar, representing 8.93% of their non-ETH holdings.
The fourth-largest non-Ethereum holding is another dollar-pegged stablecoin, the USD Coin (USDC). The biggest ETH wallets hold more than $675.8 million worth of USDC, representing 5.79% of their non-ETH holdings.
The wallets also hold more than $560.6 million worth of OKB, a cryptocurrency issued by OKEx Blockchain Foundation. The OKB utility token allows traders on the crypto exchange OKEx to pay for fees, earn interest and participate in new digital asset projects and is currently trading at $28.32.
The top 1,000 ETH addresses’ sixth-largest non-ETH holding is the Gala token (GALA). Ethereum whales own more than $534 million worth of GALA, which is currently trading at $0.43. GALA is used as a medium of exchange and as a means of payment for the Gala gaming platform.
Taken together, these six tokens represent more than 52% of the top 1,000 Ethereum wallets’ non-ETH holdings.
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