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SHIB Is Back as Top Coin Bought by 1,000 Biggest ETH Whales

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Fri, 12/31/2021 - 09:54
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Yuri Molchan
SHIB is again among the top coins actively bought by largest 1,000 ETH whales
SHIB Is Back as Top Coin Bought by 1,000 Biggest ETH Whales
Cover image via stock.adobe.com

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WhaleStats Twitter account that tracks down the top 1,000 ETH richlist, has tweeted some good news for the SHIB army. This meme cryptocurrency is back on the list of the top 10 crypto assets actively purchased by the largest 1,000 ETH whales.

SHIB comes first after ETH holdings, surpasses all other assets

At the moment, Shiba Inu is the biggest cryptocurrency by USD value in the wallets of these 1,000 Ethereum whales.

The crypto tracker shows that Shiba Inu holds the biggest token position by USD value among the largest 1,000 ETH wallets.

At the moment, the second-largest meme cryptocurrency holds the second spot among assets by the average amount of coins held. The average quantity of SHIB stored now by these entities totals 52,059,838,702 tokens worth $1,938,484.

Ethereum comes first with 41,044 ETH held on average, worth $154,122,824. UNI remains the most tradeable token here.

SHIBETHwhales1000
Image via WhaleStats

The other coins on the top 10 list of ETH whales

The native token of the FTX exchange comes third, following SHIB with 39,274 coins stored on average, worth $1,545,065.

This top 10 list of assets held by Ethereum whales also includes such cryptocurrencies as MATIC (the last spot here), GALA, CRO, OKB, BEST and stablecoins USDT and USDC.

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SHIB now accepted by NowPayments for burning

On Dec. 30, Amsterdam-based noncustodial crypto payments processing company NowPayments announced on its Twitter handle that it adds a feature that will enable merchants to annihilate the second-most popular canine crypto, SHIB.

They will be burning 3% of their profits in SHIB. By "burning," the crypto community means sending coins to a special address, ensuring that no one will be able to withdraw it from their wallets or ever spend those coins, thus taking them out of circulation forever.

A substantial diminishing of the circulating supply is usually one of the factors that helps push the coin's price up due to the growing scarcity of the asset. According to recent data from CoinGecko, the initial 1 quadrillion supply of SHIB has by now shrunk to 549 trillion tokens.

Half of this quadrillion was presented to Vitalik Buterin earlier this year by the SHIB founder. Buterin burned 90% of this "gift," sending the rest to a charity in India to help fight the aftermath of the pandemic that has been shaking the world for the past two years.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.