Survival after FTX Implosion: Whales Accumulating ETH and Tether
November 30, 2022
Hello Bubble Riders!
Today we are looking at Whale activity for the top 100 crypto wallets on the Ethereum blockchain.
Let’s start with data from whalestats.com. The relevant portion is contained in these two lists–top coins sold and purchased.
- USDT and ETH are net-buys at $726k and $677k respectively.
- USDC is a net-sell at $735k.
We’re seeing a little more activity for the top 100 whales, but still minimal with the largest transaction still being smaller than $1M. Anything less than a $1M transaction is considered minimal activity for whales. Of what we are seeing it looks like whales are holding ETH and Tether, likely to be able to freely switch to new tokens when the industry picks up.
If you found this helpful, Subscribe to The Art of the Bubble’s free newsletter.
Join us on Discord for live chat and daily updates. Find us on Twitter too