fbpx
Skip to content Skip to sidebar Skip to footer

Ether Whales Bank on Shiba Inu After Buying $500 Million Worth of SHIB

bitcoin whale Elon musk

The largest whales on the Ethereum network have recently made a huge bet on Shiba Inu by acquiring over 500 billion Shiba Inu (SHIB) tokens within 24 hours.

The accumulation from the Ethereum whales over the past 24 hours was mostly led by a whale known as “Gimli” on the platform, based on the data from whale monitoring service WhaleStats. Gimli made 2 major transactions, purchased a total of 386 billion SHIB for at least $4 million.

Gimli bought up 199 billion SHIB for $2.07 million in the first transaction. In the second transaction, they acquired 187 billion tokens for $1.99 million.

Based on the data from Etherscan, Gimli’s digital wallet has $127 million worth of crypto assets at the moment, which includes $73 million worth of Ether (ETH).

The meme-inspired cryptocurrency Shiba Inu is Gimli’s second-largest holding as the whale holds $16 billion in SHIB. Furthermore, it holds $3.9 million and $10 billion worth of Chainlink’s LINK and Decentraland’s MANA respectively — in addition to other cryptocurrencies like ENJ, USDC, UNI, and YFI.

Another Ethereum whale known as BlueWhale0159 picked up 147 billion SHIB for $1.55 million after Gimli’s transactions. In a span of one day, this brings the total accumulation above 530 billion SHIB.

Shiba Inu has managed to retain its rankings as the largest altcoin holding among the largest whales on the Ethereum network in the middle of a cryptocurrency market downturn crisis.

Over the last few months, the largest Ethereum whales haven’t been relieved of their Shiba Inu holdings and keeping them as one of their largest holdings, only behind Ethereum’s ETH.

Of the 100 largest whales on the Ethereum network, SHIB makes up 21.15% of the altcoins holdings. Back in May, SHIB flipped FTX’s native token FFT to become Ethereum whales’ largest altcoin holding.

Leave a comment

About SuperCryptoNews

SuperCryptoNews is a global leading blockchain & crypto news provider, covering daily news focused on trading and investment developments in bitcoin and crypto. We bring you expansive crypto news coverage around the world. We offer many thought leadership opinions from blockchain experts and leaders of the industry.

Subscribe to SCN

© Copyright of Novum Global Consultancy Pte Ltd {2020, 2021}. All rights reserved.

111 North Bridge Road, 21-01, Peninsula Plaza, Singapore 179098.

Phone: +65-80282938

Contact Us   |   T&Cs   |   Privacy Policy   |   About Us

About SuperCryptoNews

SuperCryptoNews is a global leading blockchain and crypto news provider, covering daily news on the latest tech and trading developments in crypto. We bring you expansive crypto news coverage especially in Asia, with a focus on Singapore, Thailand and Southeast Asia.

Follow Us On

© Copyright of Novum Global Consultancy Pte Ltd {2020, 2021}. All rights reserved.

Contact Us   |   T&Cs   |   Privacy Policy   |   About Us