Whales Continue Moving Risk-Off As They Handle Stablecoins and Basic Staking

January 25, 2023

Image via WhaleStats 

  • Last week USDC was the largest purchase, however now USDC is a net-sell at $357k
  • Although no transaction is greater than $1 million, there is a small jump in activity as numbers have moved into the higher thousands. 
  • wstETH is the largest purchase at $231k. Perhaps whales are mostly handling stablecoins and basic staking (both safe) to earn easy yields. 

We are still in a crypto winter and it looks like whales are still playing it safe as they are dealing with stablecoins as a risk-off move to prevent potential losses. As a result of the ongoing market conditions, keeping up-to-date with what whales are doing might help as we may want to follow their next steps. 

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