Ethereum Whales Pounce on Crypto Challenge Backed by FTX As Chainlink, Shiba Inu and A number of Altcoins Endure Outflows

by Cryptospacey

The richest Ethereum (ETH) whales on the planet are pouncing on one decentralized finance crypto undertaking, in keeping with WhaleStats.

The whale-watching platform notes that previously seven days, the highest 100 ETH wallets bought a median of greater than $1.9 million price of Serum (SRM), the utility token of the Solana (SOL)-based decentralized change.

By comparability, common SRM gross sales among the many high 100 ETH addresses final week had been solely $237,875.

SRM is buying and selling at $2.45 at time of writing. The 133rd-ranked crypto asset by market cap is down greater than 9% up to now week.

Serum is backed by the crypto change FTX, and FTX chief govt Sam Bankman-Fried serves as an advisor to the undertaking. Among the many high 100 ETH wallets, FTX Token (FTT) was bought at a median buy quantity of $2.25 million and bought at a median buy quantity of $1.4 million up to now week.

WhaleStats additionally notes that the highest 100 ETH addresses bought off a median of $679,410 price of the favored memecoin Shiba Inu (SHIB) over the identical timeframe. That exceeds SHIB’s common buy quantity of $582,686.

LINK, the native token for decentralized oracle platform Chainlink, additionally witnessed outflows. The highest 100 ETH wallets bought a median of $305,923 price of LINK final week with out buying sufficient LINK to make the highest ten bought altcoins.

Ethereum additionally suffered outflows final week with the highest 100 ETH wallets buying simply over $7 million price of the good contract platform whereas promoting $8.5 million of the crypto asset.

Supply: WhaleStats

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