Decentralized Finance

Are Whales Escorting The DeFi Era Back To Crypto Town?

Written by: Qadir AK

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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Dec 10, 2021

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Highlights

    De-Fi tokens show signs of bustle after a brief period of being away from the bustle of the market.

    Meme coins and tokens from metaverse abide to accumulations by whales.

The crypto market has been experiencing a constant shift in interests of traders and hodlers. Folks from the crypto town are now looking forward to the vision of emerging sectors. And the future that the platforms could unfold, metaverse and defi are among the high potential sectors.

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While metaverse has been sketching astounding impetus coming in the form of network metrics, whale acquisitions, and blue-chip firms. The De-fi sector has been rather bland in recent times, as prices of digital assets have been stuck in a rut.

Will De-Fi Sector Witness More YFI Like Rallies?

The De-Fi space has been signaling indicators of a possible boomerang move. Cryptos from the fraternity have been exhibiting impressive statistics that justify the hypothesis of geeks. Uniswap has been thriving in terms of metrics of the network, as CoinPedia had previously reported. 

According to substantial sources, LINK is the most traded token in the past 24-hours in the top 1000 ETH wallets. Whereas UNI is the most widely held token for 24-hours. The whales have been accumulating. Meanwhile, enthusiasts have been optimistic about whales reviving a bullish rally like that of YFI in the near future. 

The Perpetual Dominance of Meme Coins And Metaverse?

Meme coins continue to grip their supremacy in prominence. Dogecoin and Shiba Inu rank among the top 10 cryptos in the world by Twitter followers. While Dogecoin holds the third position with 2.6 M followers, Shiba Inu ranks fifth position with 2.2 M followers. The Doge killer has been the top mentioned crypto by hashtags in the past 24-hours.

Whales have been making an entry in Shib making purchases of billions and trillions of tokens ever since the last leg of July. A new whale buys over 8 Trillion SHIB that tallies to $290 M. The space has been pondering the possibility of Robinhood being the whale. 

ETH ranks the list with the highest average USD value among 1000 Ethereum wallets, while SHIB ranks second. ETH is also the most bought in USD across the 1000 Ethereum wallets. The holdings of SHIB are at 7.73% tallying to $1,673,067,901. Whales have been accumulating metaverse tokens such as SAND and MANA in the past 7-days, despite the red gains. 

Collectively, folks from the industry have been waiting for the bulls to barge in taking the De-Fi space to greater highs. The accumulations by whales, alongside adoptions and integrations, could fuel the space for skyrocketing price moves on the charts.

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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