Ethereum Whales More Interested In Shiba Inu Than Polygon, Here’s Why

Name	Symbol	Market	Market Cap ($)	Algorithm
SHIBA INU	SHIBUSD	Crypto	11,196,336,592	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

SHIBA INU

SHIBUSD

Crypto

11,196,336,592

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.00	0.00%	0.000019	0.000019	0.000019

Price Change

Price Change %

Current Price

Bid Price

Offer

0.00

0.00%

0.000019

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.00002	0.000018	0.00002	0.000019	0.00000662 - 0.000048

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.00002

0.000018

0.00002

0.000019

0.00000662 - 0.000048

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	23:03:13	524,545.00	0.000019	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

23:03:13

524,545.00

0.000019

USD

Price x Volume	Volume	Base Symbol	Related Pairs
53,262,440.53	157,491,152,564.70	SHIB	SHIBEUR	SHIBGBP	SHIBBTC

Price x Volume

Volume

Base Symbol

Related Pairs

53,262,440.53

157,491,152,564.70

Ethereum Whales More Interested In Shiba Inu Than Polygon, Here’s Why

02/03/2023 7:00pm

NEWSBTC

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 tokens have been recorded to be stored more than MATIC by Ethereum whales. Whales are described as the largest investors in an asset. Given their immense buying power and capacity to influence price action, they have always had a significant role in the crypto market. Ethereum Whales Holds 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. Notably, last month, several reports revealed Ethereum whales massively accumulating MATIC. On February 8, Whalestats reported ETH whales buying over $2 million of MATIC. A day later, WhaleAlert, another crypto whale tracker, said that huge MATIC transactions were occurring on the 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. Furthermore, the $619 million worth of SHIB, reported by Whalestats, ETH whales hold represents just 10% of Ethereum whales’ altcoins. There is a lot of uncertainty about whether the market will see another rally or bearish trend; most investors have their assets stored in stablecoins, a non-volatile type of crypto-backed by real word currency such as the U.S. dollar. While the top ETH whales hold $619 million worth of SHIB, they hold more stable assets such as USDC worth $1.06 billion and USDT worth $808 million on average. ETH whales hold more SHIB and MATIC as alternative assets, along with Chainlink (LINK) and Uniswap (UNI). Related Reading: MATIC Can Bounce Back If It Remains Above Bullish Order Block 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. Though the token is in a downtrend, it is still up by over 40% since the beginning of the year after following the ubiquitous plummet last year. Despite its significant spike since 2023, SHIB is still 86% down from its peak of $0.00008616 in October 2021. Related Reading: Shiba Inu Price At Pivotal Point, Only 352 Million SHIB Burned In February 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. At the time of writing, MATIC is also in a bearish trend along with the rest of the crypto market, down by 3.6% in the past 24 hours with a trading price of $1.20 and a 24-hour trading volume of $487 million. Featured image from UnSplash, chart from TradingView.com.

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