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According to data from Whalestats, a tracker for large crypto investors, Ethereum whales have shown more interest in Shiba Inu (SHIB) than Polygon (MATIC). Over the past few days, a large amount of shib chips have been registered for storage by ethereum whales.
Whales are described as the most important investors in an asset. With their enormous purchasing power and ability to influence prices, they have always played an important role in the crypto marketplace.
Ethereum Whales is the owner of more SHIB. Than MATIC
Earlier today, Whalestats revealed that the top 1,000 Ethereum whales hold an average of $619 million, about $500 million higher than their $170 million worth of MATIC. In particular, last month, several reports revealed Aether whales accumulating massive matter.
On February 8, Whalestats reported ETH whales buying over $2 million of MATIC. One day later, whalealert, another crypto whale tracker, said that massive hands-on deals were happening on blockchain.
According to the tracker, a trade of 38,000,000 MATIC, worth more than $50,000,000 at the time, was executed from an unknown wallet to an anonymous wallet. In addition, the $619 million shib reported by whalestats held by whales accounts for only 10% of the altcoins of ethereal whales.
There is much uncertainty as to whether the market will experience another recovery or a downtrend; Most investors have their assets stored in stablecoins, a type of non-volatile cryptocurrency supported by real money words like the US dollar.
While the upper whales hold $619 million shib, they hold more stable assets like usdc worth $1.06 billion and usdt worth an average of $808 million. Eth whales hold more shib and matic as alternative resources, as well as chainlink (link) and uniswap (uni).
SHIB And MATIC Price Action
Regardless of the ETH whales’ interest in it, Shiba Inu (SHIB) is currently in a bearish trend, down by 3% in the past 24 hours with a trading price of $0.00001198 and a 24-hour trading volume of $194 million.
Although the token is trending downwards, it is still up more than 40% since the start of the year after the omnipresent fall of last year. Despite its large peak since 2023, shib is still down 86% from its October 2021 high of $0.00008616.
Meanwhile, MATIC is no different; the asset is still 59% down from its all-time high of $2.92 despite its notable uptrend since the beginning of the year and Polygon’s collaborations with several Web3 and big tech firms.
When the writing is done, MATIC is also in a downward trend with the remaining crypto market, a decrease of 3.6% over the last 24 hours, with a $1.20 exchange price and a $487 million exchange volume in 24 hours.
