Ethereum Whales Piled Into Five Altcoins This Week Amid Crypto Market Turnaround

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Ethereum (ETH) whales have accumulated five altcoins as the crypto market improved over the past week.

According to the crypto-tracking platform WhaleStats, the top 100 richest ETH addresses’ top target over the last week, excluding ETH and stablecoins, was FTX Token (FTT).

Over a seven-day timeframe, ETH whales gobbled up an average purchase amount of more than $5.1 million worth of FTT, the exchange token of FTX, a cryptocurrency derivatives trading platform for futures, leveraged tokens and over-the-counter trading.

The average purchase amount for Ethereum among the top 100 ETH wallets was more than $13.8 million.

The third-most popular altcoin of the week for ETH whales was LINK, the native token for decentralized oracle network Chainlink. In the past week, the top 100 ETH wallets bought more than $370,000 worth of LINK on average.

Fourth on the list is the popular memecoin Shiba Inu (SHIB). The top 100 richest ETH addresses purchased an average of $256,691 worth of SHIB in the past week.

The top wallets’ fifth favorite altcoin of the week was SAND, the native token for the blockchain-based gaming ecosystem The Sandbox. The top 100 addresses purchased an average of $207,583 worth of SAND in the past seven days.

Ethereum whales are also gobbling up Wrapped Bitcoin (WBTC), a token pegged to the price of BTC. The top 100 ETH addresses bought more than $4.65 million worth of WBTC in the past week on average.

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Featured Image: Shutterstock/Willyam Bradberry/Natalia Siiatovskaia

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