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FTX Flips Shiba Inu as Biggest Token Position Among Whales

Mon, 01/10/2022 - 12:25
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Tomiwabold Olajide
FTX overtakes Shiba Inu as biggest token position by dollar value
FTX Flips Shiba Inu as Biggest Token Position Among Whales
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Data by WhaleStats analytics platform shows that FTX has flipped Shiba Inu to rank the biggest token position in USD. Before this, SHIB has always held the much-coveted spot, ranking as the largest token position in USD held by the top 1,000 ETH wallets.

Source: WhaleStats

FTT is the native crypto asset of crypto derivatives trading platform FTX. The current price is $37.55 per FTT, representing an increase of 2.77% in the last 24 hours. FTT's circulating supply is 138,768,340, while it ranks 32nd largest cryptocurrency by market cap, according to CoinMarketCap data.

Source: WhaleStats

WhaleStats analysis indicates that the top 1,000 Ethereum wallets now hold $1,506,665,200 worth of FTX tokens, which represents 14.52% of the total holdings of all tokens except ETH. Shiba Inu currently accounts for 14.4% of total holdings as Ethereum whales hold $1,494,649,701.

The slight margin between the two tokens raises hopes that the positions may soon be switched, with SHIB reclaiming its position.

The Shiba Inu holder base continues to grow, with the current holder count at 1,130,172, according to WhaleStats data. Shiba Inu was trading at $0.0000279 at press time and ranked 13th largest by market capitalization.

Whales are accumulating again

Large crypto investors tend to increase their holdings for better prices during periods of dip and consolidation. According to WhaleStats, Fantom and Chainlink are among the top 10 tokens whales are buying as the market eyes a relief rally from previous declines.

WhaleStats reports three large Chainlink transactions in the last 12 hours. First, an ETH whale ranked 122nd among the top 1,000 ETH wallets tracked by WhaleStats acquired 36,999 LINK, or $1,020,445 worth.

Second, another ETH whale ranked 126th also purchased 38,001 LINK, or $1,048,067 worth, while a purchase of 65,999 LINK, or $1,851,285 worth, was made by another whale ranked 997th on the data tracking platform.

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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.