Ethereum’s richest bagholders have been shuffling their altcoin stacks as ETH and the overall crypto markets teeter.
According to data from whale-monitoring platform WhaleStats, Apecoin (APE), a token airdropped to members of the Bored Ape Yacht Club non-fungible token (NFT) community, is the most purchased altcoin among the biggest Ethereum whales at time of writing, excluding stablecoins and ETH itself.
As per WhaleStats, the top 100 Ethereum whales have an average of 13,826 APE sitting in their wallets, with an average purchase amount of $172,216.
Also grabbing the attention of the whales is Loopring (LRC), an Ethereum-based token that allows for building decentralized exchanges using zero-knowledge proofs. According to the whale-tracking service, the average Ethereum whale within the top 100 list has an average token quantity of 37,880 LRC worth $26,669.
The sixth most purchased altcoin among Ethereum’s wealthiest entities is API3, the native token for the API3 project which aims to connect traditional application programming interfaces (APIs) to the blockchain world.
Also appearing on the list is decentralized streaming service Audius (AUDIO), social token platform Chiliz (CHZ), decentralized finance protocol Yearn Finance (YFI) and smart contract platform Fantom (FTM).
Ethereum is above all other crypto assets as the deep-pocketed investors have purchased an average of 368 ETH worth $994,008. The two other tokens on the top ten list are stablecoins USD Coin (USDC) and Tether (USDT).
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Featured Image: Shutterstock/Mia Stendal/Natalia Siiatovskaia