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SHIB Worth $660 Million Settled in 2,000 Biggest ETH Whales' Pockets

Sun, 08/07/2022 - 12:23
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Gamza Khanzadaev
This makes 10% of Shiba Inu's capitalization concentrated in hands of big players
SHIB Worth $660 Million Settled in 2,000 Biggest ETH Whales' Pockets
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WhaleStats, a portal that tracks the activity of major Ethereum (ETH) holders, has shared data on the composition of the top 2,000 ETH whales' positions. According to the data, in addition to stablecoins and Ethereum itself, SHIB holds the largest portion of whales' portfolio. The token's share is 10% of the total and equals $660 million. By comparison, the entire capitalization of the Shiba Inu project is in the neighborhood of $6.6 billion. Thus, it turns out that by holding 10% of their portfolio in SHIB, the top 2,000 ETH holders hold 10% of the entire capitalization of Shiba Inu.

Are these statistics alarming? Hardly. On the contrary, the entrance of such big crypto market players into the project, which a year ago was considered by many a joke, indicates their recognition of the merits of the Shiba Inu team. Considering that SHIB's neighbors in the ranking are such bright crypto startups as Decentraland (MANA), Chainlink (LINK) and Polygon (MATIC), SHIB's share still prevails the share of these tokens by 5 times.

Busy week for SHIB

The last week has brought a number of good news and events for Shiba Inu. So, celebrating its two-year birthday on August 2, the project revealed a number of details on its highly anticipated game called "Shiba Eternity," developed in collaboration with PlaySide Studios. It is important to note that the announcement was also not without the close attention of Ethereum whales. 

Further, it became known that Binance, one of the world's largest crypto exchanges, included SHIB in the list of coins that can be used to pay through Binance Card. This event, in turn, made it possible to use SHIB as a payment method in the European Economic Area.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.