Ethereum Whale Buys 4 Trillion Shiba Inu ($SHIB) for $136 Million

An Ethereum whale with over $570 million worth of assets on its portfolio, has recently invested $136 million in the meme-inspired cryptocurrency Shiba Inu ($SHIB) to purchase over 4 trillion tokens of it.

The transactions were first spotted by whale monitoring resource WhaleStats, which pointed out that the Ethereum whale accumulated 4 trillion tokens over a 24-hour period. WhaleStats, it’s worth noting, tracks the largest 1,000 wallets on the Ethereum network.

As CryptoGlobe reported, Shiba Inu recently became the largest altcoin holding among Ethereum’s top 1,000 whales followed by FTX’s native $FTX token and Tether’s USDT stablecoin. Data has shown whales hold around $1.7 billion worth of the meme-inspired cryptocurrency and $1.6 billion worth of FTX’s native cryptocurrency.

These whales also hold $1.1 billion in Tether’s USDT, $500 million in Gala Games’ $GALA token, and $400 million on the native cryptocurrency of and the Cronos network, $CRO. The top 1,000 Ethereum whales are also holding onto Polygon ($MATIC), Decentraland ($MANA), Telcoin ($TEL), and The Sandbox ($SAND).

The whale that recently invested $136 million in SHIB has seemingly been betting on Metaverse-related tokens, as their largest holdings include the native token of Decentraland, a virtual reality platform, and of Gala, a gaming platform where players are part owners and operators.

Its other large holdings include $MATIC, $CHZ, $ETH, $SAND, and $OMG, among a number of other altcoins. It’s worth noting $SHIB has also recently become the third most-used token on the Ethereum network after only two major stablecoins, USDT and USDC, as holders of the meme-inspired cryptocurrency are seemingly becoming more active.


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Featured image via Pixabay

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