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Ethereum Whale with 38 Trillion SHIB Buys 1.3 Million MATIC Tokens

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Mon, 01/03/2022 - 12:19
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Tomiwabold Olajide
1.3 million MATIC tokens purchased by Ethereum whale owning 38 trillion Shiba Inu coins
Ethereum Whale with 38 Trillion SHIB Buys 1.3 Million MATIC Tokens
Cover image via stock.adobe.com

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An Ethereum whale, "Light," ranking fourth biggest on WhaleStats, has increased his holdings by buying 1,337,000 MATIC tokens, or $3,315,760 worth. Polygon (MATIC) ranks 14th largest after Shiba Inu, according to CoinMarketCap data. At press time, MATIC was trading at $2.49, down 2.48% in the last 24 hours.

Data provided by WhaleStats shows that the "Light" whale still bets mostly on Shiba Inu. The dog-themed token takes up 27.31% of his portfolio, worth a total of $4,705,346,887.

Shiba Inu comes top among the whale's token holdings, with a balance of 38 trillion Shiba Inu tokens, or $1,285,129,470 worth held.

PornHub DAO comes in second with 20.37%, followed by Ethereum at 13.62%, worth $640,886,140. The whale also holds CRO, Enjin Coin, USDT, WBTC and other coins.

Shiba Inu whales steadily increase holdings

The top 100 Shiba Inu holders have likewise increased their portfolios as WhaleStats reports a 2.36% rise in the average SHIB balance of this category of investors. The average SHIB value has also grown by 3.4%, while the 24-hour volume has risen by 519.55% to $21,368,644 at press time.

Shiba Inu Top 100 Holders
Shiba Inu Top 100 Holders, Source: WhaleStats

Shiba Inu active addresses among the top 100 have increased by 16.67% in the last 24 hours as SHIB upholds its top place as the biggest token position by dollar value.

The Shiba Inu network is also growing by welcoming more than 114,450 new users after reaching the one million mark a little over a month ago, bringing the current holder count to 1,114,450.

From the standpoint of fundamental growth, many holders are a key determinant of the asset's future. Shiba Inu is trading marginally down at $0.0000334 as the price consolidates its next move for 2022.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.