Whale Activity Declines On The Ethereum Blockchain Compared To Previous Weeks As Whales Rebalance USDC
March 22, 2023
Today we are looking at Whale activity for the top 100 crypto wallets and some “smart money” wallets on the Ethereum blockchain.
- USDT holds its position as the top sold token at $750k.
- USDC is the top purchased token at $1.3M.
- It looks like there has been a decline in whale activity on the Ethereum blockchain, because compared to previous weeks, the current top two tokens have not yet reached the higher millions.
USDC is now the top purchased token, while USDT is the top sold token. This may be a result of the whales rebalancing because of everything that went down with USDC these past few weeks.( Read Here). They are probably going back into USDC from USDT. Usually whales deal with stablecoins as a risk off move that offers security and a form of stability in this fluctuating market.
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