Ethereum Whales Load Up on One Gaming Token, Making It Top Traded Altcoin Among ETH Investors

Ethereum (ETH) whales loaded up on one popular gaming token over the weekend.

Data from whale-surveilling platform WhaleStats indicates Axie Infinity (AXS) was the most traded token among the 1,000 biggest ETH wallets over a 24-hour period this past weekend.

WhaleStats also shows that a couple of large Ethereum whales gobbled millions of dollars worth of AXS.

The third-largest Ethereum whale purchased 40,000 AXS worth more than $2.46 million in a single transaction, according to WhaleStats.

The 18th-largest ETH whale bought 40,000 AXS worth nearly $2.25 million on Saturday. The same whale purchased 174,000 AXS worth more than $11.23 million on Sunday.

Axie Infinity is a trading and battling game based on the blockchain. Players, who are stakeholders, are allowed to collect, breed, raise, battle and trade digital collectibles.

The project’s native token, AXS, is trading at $67.84 at time of writing. The 36th-ranked crypto asset by market cap is up nearly 26.5% in the past seven days.

A popular pseudonymous crypto analyst known as Altcoin Sherpa predicts AXS’s price will surge even further.

“AXS: This looks pretty good. I think this goes to like $80 and then pulls back.”

MATIC, the native token for blockchain scaling solution Polygon, has dethroned AXS and is now the most traded asset among the top 1,000 ETH wallets at time of writing, according to WhaleStats.

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Featured Image: Shutterstock/prodigital art/Nikelser Kate