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Whales are Accumulating These Altcoins While Crypto Market Consolidates

Written by: Nidhi Kolhapur

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Nidhi Kolhapur

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

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Dec 13, 2021

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The crypto market still stays in limbo after the crash weeks ago. Unable to recover, BTC trades at $48,380 and fails to climb back to $50,000. Ethereum has also lost feet as it stooped below $4K. Most top altcoins trade in red today. 

As the prices fall, top whales are accumulating. As the crypto markets consolidate, the top whales in the Ethereum ecosystem are heavily loading up on two low-cap coins.

The current holding patterns of the 1,000 largest non-exchange Ethereum (ETH) addresses are shown in the latest numbers from whale-tracking website WhaleStats.

By looking at tokens with the highest average US dollar value among the investor cohort, the platform compiles a list of the top 10 holdings of the wealthiest Ethereum whales. 

OKB(OKB)

According to WhaleStats, the average amount of OKB tokens held by deep-pocketed investors is $528,173.

The OKEx Blockchain Foundation has created a cryptocurrency called OKB (OKB). Traders on the cryptocurrency exchange OKEx can use the Ethereum-based utility token to pay fees, earn interest, and participate in future digital asset projects. 

At the time of writing, OKB is trading at $27.29 up by 1.4% in the last 24 hours. The coin is defying the market trend as it trades in green amidst blood bath.

Bitpanda ecosystem token (BEST)

The crypto whale tracker also reveals that wealthy Ethereum investors are acquiring Bitpanda Ecosystem Token (BEST), with the investor group holding an average of $461,230 worth of the ERC-20 token, ranking ninth. 

Bitpanda’s native token, BEST, is a crypto, stock, and precious metals investment platform. In addition to prizes and privileges inside the Bitpanda ecosystem, BEST holders are entitled to trade discounts.

At the time of writing, BEST is trading at $1.04up by 2.3% in the last 24 hours. This coin is also defying the market trend as it trades in green amidst blood bath.

The rest

When it comes to the other huge holdings of ETH whales, Ethereum takes the lead over all other coins, followed by Shiba Inu, a dog-themed meme coin.

The native asset of bitcoin derivatives trading platform FTX, FTX Token (FTT), is a podium finisher, while Tether (USDT) and Gala, a player-controlled blockchain gaming platform, are fourth and fifth, respectively. 

CRO, the native currency of digital asset exchange Crypto.com, is ranked seventh, while USD Coin (USDC), a stablecoin, is ranked eighth. Chainlink (LINK), a decentralised oracle network, rounds out the top ten. 

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Nidhi Kolhapur

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

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