New statistics show that Ethereum (ETH) whales are gobbling up gaming and social altcoins as the crypto market recovers from its latest pullback.
The top 1,000 ETH whales are snapping up millions of dollars worth of metaverse tokens, stablecoins and ETH-based altcoins, according to whale-surveying platform WhaleStats.
WhaleStats reveals that the top 10 coins being bought by deep-pocketed ETH investors in the past day are king altcoin Ethereum itself, followed by stablecoin USD Coin (USDC).
Chiliz (CHZ), a platform for tokenizing sports and esports in order to encourage fan engagement, sits at number three while stablecoin Tether (USDT) grabs the fourth spot.
At number five is Ethereum rival Polygon (MATIC), followed by play-to-earn blockchain-based game Axie Infinity (AXS) and virtual reality platform Decentraland (MANA).
Decentralized finance (DeFi) platforms Synthetix (SNX) and yearn.finance (YFI) take the eighth and ninth slots. Ethereum-based virtual world The Sandbox (SAND) rounds out the list.
WhaleStats also shows that the 79th-wealthiest ETH whale hauled in a staggering 144,842,922 CHZ tokens worth about $45.7 million, bumping Chiliz up to comprise just under 8% of the crypto investor’s portfolio.
Another notable transaction by the same whale was its purchase of 4,967,667 WOO tokens worth $4.44 million. WOO is an Ethereum-based coin and the native utility token of WOO Network, a decentralized fintech startup and pool trading platform
CHZ is currently exchanging hands at $0.30, a 21.5% increase from its seven-day low of $0.25 while WOO is trading at $0.93.
The whale-watching website also brings up the 104th-ranked ETH whale buying 399,999 MATIC worth $1.05 million.
MATIC is exchanging hands $2.50 at time of writing, a 22% increase from its seven-day low of $2.05.
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