Shiba Inu Is Now The Largest Holding Of ETH Whales Despite Crypto Market Turmoil
According to statistics from WhaleStats, Shiba Inu is currently the second largest crypto asset in the top 100 Ethereum whales behind USDC, although Ethereum (ETH) maintains the top spot.
The latest data from WhaleStats reveals the investment patterns of the top 100 non-exchange Ethereum addresses by wealth. The top 100 whales are essentially purses with an average value of $14 million.
Tuesday’s market price for Shiba Inu is $0.00000827, up 3.7% over the past seven days, statistics from Coingecko show.
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According to the blockchain data tracker, the top 100 Ethereum whales currently have SHIB worth $423,180,380, or 15.55 percent of their total holdings. By contrast, Circle’s USDC Stablecoin accounts for 18.08 percent, or $491,815,224 value.
In addition, WhaleStats reveals that the average SHIB holdings are 463.5 billion tokens worth $3,678,366. This makes the dog-themed token the largest altcoin holding among Ethereum whales, excluding ETH and two stablecoins.
Shiba Inu still shows strong recovery
The whales also prefer to hold the FTX token, Polygon’s MATIC, Chainlink’s LINK, and Decentraland’s MANA, among others.
Despite this, despite strong demand, SHIB has shown no signs of improvement in more than two months. Since mid-April, the value of the meme coin has fallen 70.72 percent, representing a loss of 70.72 percent.
SHIB total market cap at $4.8 billion on the daily chart | Source: TradingView.com
Whale wallets are also interested in FTX Token (FTT), the original holding of well-known cryptocurrency exchange FTX, which has an average supply of 140,651 tokens worth $3,241,465 in circulation.
This investment group has an average value of $1,744,056 in Bitpanda Ecosystem Token (BEST), placing it sixth in the top 100 ETH wallets.
How long do keepers keep their SHIB?
The next coin is CHSB, the original token of the cryptocurrency wealth management platform SwissBorg. The average number of tokens owned by whales is over 6 million, with a total value of $1,103,965.
WhaleStats also shows wealthy Ethereum investors buying crypto exchange MXC for $1.1 million, rounding out the top 10 with the 3D virtual reality environment Decentraland (MANA) for $818,038 and 1,057,781 tokens.
Meanwhile, according to the composition of IntoTheBlock’s holders based on time held, 21% of SHIB holders have kept their tokens for more than a year, 76% within a year, and 3% less than 30 days.
As the population of Shiba Inu continues to grow, the midterm keepers are also dispersed.
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Featured image of Watcher Guru, chart of TradingView.com