As New Year’s Approaches, There Is Minimal Whale Activity: Whales Deal With Stablecoins During This Crypto Winter
December 28, 2022
Hello Bubble Riders! Today we are looking at Whale activity for the top 100 crypto wallets and some “smart money” 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.
- WETH is the largest purchase at $176k, perhaps from selling NFT’s on the Solana chain to move elsewhere.
- USDC is seeing a lot of activity which makes sense as Tether struggles, and we’ll see what happens to Binance’s stablecoin.
- There is still minimal whale activity, as no transaction is greater than $1M.
It looks like there has been an increase in whale activity, compared to last week. To follow the whales, play it safe for right now. They are mostly dealing in stablecoins, and now wETH.
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