Crypto Whales Are Pouring Capital Into One Ethereum-Based Altcoin As Bitcoin Taps $22,000: On-Chain Data

New data reveals that Ethereum (ETH) whales are pouring hundreds of thousands of dollars into a single altcoin as Bitcoin (BTC) rises to $ 22,000.

According to the whale watching protocol WhaleStats, the top 500 ETH whales on the planet are swallowing the FTX Token (FTT), a native digital asset of the crypto exchange platform FTX.

According to statistics, FTT is the third-earned token among well-financed investors, second only to the dollar peg stablecoin USD Coin (USDC) and the major smart contract platform Ethereum, with an average purchase price. Were $ 709,711 and $ 281,822, respectively.

However, whales sold only $ 27,030 in crypto assets, so FTT’s net profit was the highest in terms of inflows. USDC and ETH saw outflows of $ 881,683 and $ 132,139, respectively.

Closing the top five are two other stablecoins, Tether (USDT) and Binance USD (BUSD).

Other prominent crypto assets in the top 10 include Oracle network Chainlink (LINK), stablecoin Dai (DAI), meme token Shiba Inu (SHIB), decentralized exchange platform Serum (SRM), Ethereum scaling solution Polygon (MATIC). And so on.

The data also reveal that the entire FTT is the sixth most held token by Stablecoin USDC and USDT, Dogecoin rivals ShibDoge (SHIBDOGE) and HNWI ETH whales. ..

FTT accounts for just over 3.5% of the whale portfolio, totaling $ 224 million.

FTX tokens were trading at $ 27.45 at the time of writing and fell slightly that day.

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Featured images: Shutterstock / Maria_lh / Sensvector