$800Bn Market Cap: What Do Whales Do When Billionaires Disrupt The Crypto Industry?

November 9, 2022

Hello Bubble Riders!

Today we are looking at Whale activity for the top 100 crypto wallets and some “smart money” wallets on the Ethereum blockchain. 

Let’s start with data from whalestats.com. The relevant portion is contained in these two lists–top coins sold and purchased.

  • USDC stands at being a net-sell at $877k.
  • ETH is a net-buy at $545k.
  • Overall, Whales have continued to move into stablecoins. 

There has been a jump in activity given the recent debacle between Binance and FTX. As a result, we will likely see a lot of chaotic activity as whales shuffle around their holdings for the next few days. It seems Whales hold stablecoins as a risk off move. 

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