Top Ethereum Whales Pile Into Compound (COMP), Synthetix (SNX) and Two More DeFi Altcoins As Markets Jump

The world’s largest Ethereum (ETH) whale is looking at some altcoins in the decentralized finance (DeFi) sector as the crypto market greens.

data According to blockchain tracking service WhaleStats, the top 1,000 Ethereum whales have accumulated a large number of stablecoins in the last 24 hours, including Circle’s USDC, Binance’s BUSD, Maker’s DAI and Tether (USDT). I understand.

In addition to Stablecoin and ETH itself, whales are looking to lend and borrow the protocol Compound and its governance token COMP. COMP is currently the most purchased altcoin among the top 1,000 Ethereum whales in the last 24 hours, with the exception of ETH and Stablecoin.

Immediately behind COMP is Synthetix (SNX). This is a protocol that enables the issuance of synthetically tradable assets on Ethereum, such as commodities and indexes. At the time of writing, SNX is the second purchased altcoin among Ethereum’s largest whales.

After SNX is The Graph (GRT), an index protocol and global API aimed at organizing blockchain data. GRT has been struggling for the past year and is now down 80% year-on-year. However, at the time of writing, GRT is the third-purchased altcoin among the top 1,000 whales in Ethereum, up 18% in the last two weeks.

The fourth altcoin from the DeFi space scooped up by ETH whales is Uniswap (UNI), the benchmark Ethereum-based decentralized exchange (DEX). According to WhaleStats, Ethereum whales have bought an average of 42 UNI tokens in the last 24 hours.

Ethereum itself has risen 28% in the last seven days and is currently trading at just over $ 1,500.

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Featured image: Shutterstock / Kyyybic