New statistics indicate that Ethereum (ETH) whales are backing up the truck on several gaming and social altcoins as the crypto market recovers from its December dip.
According to WhaleStats, a whale-surveying platform, the top 1,000 ETH whales are gobbling up millions of dollars worth of the most popular metaverse names, stablecoins and ETH-based altcoins.
Chiliz (CHZ), a blockchain platform for tokenizing sports and esports in order to encourage fan engagement and to provide fan rewards, sits at the number three slot, while stablecoin Tether (USDT) grabs the fourth spot.
WhaleStats also shows that the 79th-wealthiest ETH whale hauled in a staggering 144,842,922 CHZ tokens worth about $45.7 million, nudging Chiliz up to comprise just under 8% of the crypto investor’s portfolio.
Another notable transaction by the same whale was its purchase of 4,967,667 WOO tokens worth $4.44 million. WOO is an Ethereum-based coin and the native utility token of WOO Network, a decentralized fintech startup and pool trading platform
CHZ token is currently exchanging hands at $0.30, a 21.5% increase from its seven-day low of $0.25, while WOO is trading at $0.93.
The whale-watching website also shows the 104th-ranked ETH whale buying 399,999 MATIC worth $1.05 million.
MATIC is exchanging hands $2.50 at time of writing, a 22% increase from its seven-day low of $2.05.
Check Price Action
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/mirrra3/Sensvector
Disclaimer: The information provided on this page does not constitute investment advice, financial advice, trading advice, or any other sort of advice and it should not be treated as such. This content is the opinion of a third party and this site does not recommend that any specific cryptocurrency should be bought, sold, or held, or that any crypto investment should be made. The Crypto market is high-risk, with high-risk and unproven projects. Readers should do their own research and consult a professional financial advisor before making any investment decisions.