March 1, 2023
- USDC holds its position as the top sold and top purchased token at $3.2M and $3.1M.
- What’s interesting about this week is wBTC. Wrapped Bitcoin tracks the value of real Bitcoin which makes it almost as equivalent as BTC. Following USDC, wBTC comes in at number two as the top sold and purchased token at $2.7M ad $2.6M.
- It looks like there has been a steady increase in whale activity because compared to previous weeks the largest transaction has reached the higher millions. However, USDT is no longer in the higher millions as wBTC has taken its position.
Although there has been a large increase in Bitcoin activity, USDC is still the top token because dealing with stablecoins is a risk off move that Whales have been utilizing for quite some time now. They offer security and a form of stability in this fluctuating market.
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