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SHIB Becomes Largest Holding of ETH Whales as They Keep Buying Shiba Inu, Flipping FTT

Mon, 03/14/2022 - 11:29
SHIB Becomes Largest Holding of ETH Whales as They Keep Buying Shiba Inu, Flipping FTT
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A recent report by WhaleStats shows that the top 500 investors in Ethereum and ERC-20 tokens now prefer SHIB to FTT as the largest holding.

These whales continue to acquire Shiba Inu. Earlier, U.Today covered that an anonymous ETH whale had purchased over 49 billion SHIB and now holds roughly 4.4 trillion of these meme tokens.

SHIB flips FTT within whales' holdings

WhaleStats has reported that SHIB has once again outperformed a rival coin in the portfolios of ETH whales to become their first largest holding after Ethereum.

According to the website of on-chain data service WhaleStats, SHIB has taken the place of FTT that this coin had occupied as the largest token by USD value.

This means that Shiba Inu is now the biggest investment of the whale after the second most popular coin—Ethereum.

The overall amount of SHIB owned by these investors at press time is worth a whopping $1,575,374,992. That is $71,316,206,066,093, which is 17.09% of their cumulative portfolio.

As for FTT, the second biggest investment for the time being, these whales own $1,486,956,172 in this token—16.74% of whales' portfolios. FTT is followed by the second biggest USD-backed stablecoin by market cap, USDC.

The amount of USDC held by top ETH whales totals $904,517,905. That is 10.18% from the overall amount invested in crypto assets by them.

Image via WhaleStats

Here's how much SHIB the #1 ETH whale owns

WhaleStats' list of Ethereum whales shows that spot 1 is held by a wallet called "Light." The owner of this crypto address holds, at the moment, a total of $4,340,397,690 worth of ERC-20 tokens. The percentage of SHIB here is 8.76, which comprises $983,510,910.

SHIB Might Spike to $0.01 Due to These Factors Besides Burning per Shibburn Business: Details

Shiba Inu price action

On March 13, the second biggest canine crypto, SHIB, printed a massive red hourly candle, which pushed its price down 4.02%. Earlier today, the meme coin began a small recovery, rising 4.62%.

As of this writing, SHIB is trading at $0.00002204 against USDT on Binance exchange.

Image via TradingView