The richest Ethereum (ETH) whales in the world are accumulating a top ETH competitor as the overall crypto market continues to pull back.
WhaleStats reports on Twitter that scalable smart contract-enabled blockchain Fantom (FTM) became the top target of the 500 biggest ETH address on record over one 24-hour period this week, flipping popular dog-themed meme coin and Dogecoin (DOGE) competitor Shiba Inu (SHIB).
[adinserter block="1"]FTM is exchanging hands at $1.15 at time of writing. The 45th-ranked crypto asset by market cap is down nearly 14% in the past 24 hours and more than 36% from where it was priced one week ago.
In one large transaction, an Ethereum whale known as “Gimli” purchased 1,300,000 FTM worth nearly $1.6 million on Thursday morning.
Seven minutes later, the deep-pocketed investor also purchased 476,799 Chainlink (LINK) worth more than a staggering $6.3 million at time of writing.
The whales were also snapping up stablecoins, such as Tether (USDT), USD Coin (USDC), and Binance USD (BUSD) by the hundreds of thousands. The wealthy investors bought an average of 898,595 USDT, 719,327 USDC, and 245,651 BUSD, according to WhaleStats.
Other notable supersized whale purchases on Thursday include:
- An ETH whale bought 485,000 LINK worth more than $6.45 million
- An ETH whale bought 36,525,140,668 BEAR Coin (BEAR) worth more than $4.52 million
- An ETH whale purchased 520 Bull Finance (BULL) worth more than $1 million
- An ETH whale bought 399,999 LINK worth more than $5.32 million
- An ETH whale purchased 99,990 LINK worth more than $1.33 million
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/santoelia/WindAwake/Natalia Siiatovskaia
