Ethereum Whales Pounce on Crypto Project Backed by FTX As Chainlink, Shiba Inu and Several Altcoins Endure Outflows

The richest Ethereum (ETH) whales on the planet are pouncing on one decentralized finance crypto challenge, in keeping with WhaleStats.

The whale-watching platform notes that previously seven days, the highest 100 ETH wallets bought a median of greater than $1.9 million value of Serum (SRM), the utility token of the Solana (SOL)-based decentralized trade.

By comparability, common SRM gross sales among the many prime 100 ETH addresses final week have been solely $237,875.

SRM is buying and selling at $2.45 at time of writing. The 133rd-ranked crypto asset by market cap is down greater than 9% previously week.

Serum is backed by the crypto trade FTX, and FTX chief government Sam Bankman-Fried serves as an advisor to the challenge. Among the highest 100 ETH wallets, FTX Token (FTT) was bought at a median buy quantity of $2.25 million and bought at a median buy quantity of $1.4 million previously week.

WhaleStats additionally notes that the highest 100 ETH addresses bought off a median of $679,410 value of the favored memecoin Shiba Inu (SHIB) over the identical timeframe. That exceeds SHIB’s common buy quantity of $582,686.

LINK, the native token for decentralized oracle platform Chainlink, additionally witnessed outflows. The prime 100 ETH wallets bought a median of $305,923 value of LINK final week with out buying sufficient LINK to make the highest ten bought altcoins.

Ethereum additionally suffered outflows final week with the highest 100 ETH wallets buying simply over $7 million value of the good contract platform whereas promoting $8.5 million of the crypto asset.

Source: WhaleStats

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