Crypto Asset Overtakes Shiba Inu (SHIB) As Biggest Altcoin Holding Among Top 500 Ethereum Whales

The world’s richest Ethereum (ETH) whales are now holding massive amounts of one stablecoin and two additional altcoins, according to the blockchain tracker WhaleStats.

The top 500 ETH addresses on record now hold more of Circle’s dollar-pegged stablecoin, USD Coin (USDC), than any other asset.

The whales own $1.64 billion worth of USDC, representing 13.38% of the whales’ non-Ethereum holding.

Second on the list is the popular meme coin Shiba Inu (SHIB). The top 500 Ethereum whales hold more than $1.53 billion worth of SHIB, amounting to nearly 12.5% of their non-ETH holdings. Shiba Inu, the 15th-ranked crypto asset by market cap, is trading for $0.000023 at time of writing and is down 8% in the past seven days.

The richest ETH whales’ third-largest non-Ethereum holding is FTX Token (FTT). They hold more than $1.52 billion worth of the crypto asset, representing nearly 12.4% of their non-ETH holdings.

FTT is the exchange token of FTX, a cryptocurrency derivatives trading platform for futures, leveraged tokens and over-the-counter trading. The 25th-ranked crypto asset by market cap is trading for $39.32 at time of writing, down nearly 13% from where it was priced one week ago.

WhaleStats notes on Twitter that the top 500 ETH addresses also hold massive amounts of Ethereum-scaling solution Polygon (MATIC) as well as metaverse tokens Decentraland (MANA), Gala (GALA) and The Sandbox (SAND).

The largest 500 Ethereum whales are also accumulating crypto exchange tokens including Cronos (CRO), Bitpanda Ecosystem Token (BEST), SwissBorg (CHSB) and OKex’s utility token OKB.

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Featured Image: Shutterstock/kkssr/WindAwake