New on-chain data shows Ethereum whales are accumulating 10 altcoins, including an emerging competitor to Shiba Inu (SHIB) and Dogecoin (DOGE).
The Ethereum whale wallet tracker WhaleStats has compiled a list of the top 10 altcoins purchased by the 1,000 largest Ethereum wallets in the last 24 hours.
The numbers show the whales are first and foremost stockpiling ETH itself, the native crypto asset of the Ethereum blockchain.
After that, the whales are accumulating a trio of stablecoins – namely USD Coin (USDC), Tether (USDT) and Binance USD (BUSD).
Next up, the whales are accumulating the metaverse altcoin Decentraland (MANA), the Bitcoin-pegged asset Wrapped Bitcoin (WBTC) and Crypto.com’s native exchange token CRO.
Next on the list is the native token of the automated market maker Curve (CRV) and the gaming altcoin The Sandbox (SAND).
Although Ethereum whales have purchased large amounts of Shiba Inu (SHIB) in recent weeks and months, the whales are now turning their attention to the new dog-themed competitor Dogelon Mars (ELON).
ELON holds the number 10 slot on the list of the most purchased Ethereum-based altcoins in the last 24-hours.
The project is a dog-themed meme coin inspired by Dogecoin and Shiba Inu as well as Elon Musk’s ambitions to bring humans to Mars.
ELON cracked the $1,000,000,000 market cap barrier early this month.
It is now the 149th largest crypto asset, with a market cap of $826,955,756 and a price of $0.000002 per token at time of publishing.