New data from a whale watching website reveals which altcoin projects are being consumed by the top 1,000 Avalanche (AVAX) whales. In this article, we examine the trends of whales in the Avalanche ecosystem.
Whales stock the most from this altcoin
According to WhaleStats, which has recently started tracking the smart contract platform and its Ethereum (ETH) competitor, AVAX investors with large wallets are acquiring, on average, thousands of dollars worth of stablecoins and other altcoins. The most purchased token by AVAX whales in the past day is Abradacadabra, with an average purchase amount of $14,089. The stablecoin of the money lending platform is Magic Internet Money (MIM). Avalanche is in second place with an average purchase amount of $13,899.
Santiment shares the 2022 market sentiment of Bitcoin whales and individual investor. Details Cryptocoin. com
Whales prefer these altcoin projects
USDC, which represents USD Coin (USDC) and Tether (USDT) stablecoins, respectively, on the AVAX Blockchain. e and USDT. e sits at numbers three and four. Decentralized exchange (DEX) platform Pangolin (PNG) is in fifth place, while decentralized reserve currency protocol Wonderland (TIME) is in sixth place. Avalanche-based decentralized exchange TraderJoe (JOE) lands at number seven, followed by Wrapped Ethereum (WETH.e) and Wrapped Bitcoin (WBTC.e), which are Bitcoin and Ethereum tokens bridged to the AVAX protocol. Wrapped Avalanche (WAVAX) rounds out the list.
WhaleStats also found that Avalanche whales were most likely AVAX, WETH. e, USDC. e, JOE, USDT. e, MIM, WBTC. e indicates holding WAVAX, Wrapped, Chainlink (LINK. e), and Blockchain-based play-to-win game Cradaba (CRA). Statistics show that Avalanche whales have an average of 2,440 AVAX tokens valued at $267,613, while the largest token position overall by dollar value held by them is Wrapped Ethereum.