Ethereum Whales Add $550 Mln FTX Tokens As Prices Plummet

The FTX token (FTT) has been trading under heavy pressure amid the ongoing cryptocurrency market collapse. However, some biggest of the Ethereum (ETH) whales have bought more than $550 million worth of FTT tokens amid the price dip.

“BlueWhale0116” adds 15 million FTX

According to Whalestats, an ETH whale named “BlueWhale0116″ added $343.9 million worth of FTX tokens. Around 15,000,000 tokens were moved into the wallet in a single transaction. This is the biggest transactions recorded by the tracker in the last 24 hours.

Another Ethereum wallet named “BlueWhale0079” purchased $149.04 million worth of FTX tokens in a single transaction. As we dig in, the data depicts that this whale wallet soon moved out of the address. The whale wallet is now holding just $3.8 million worth of FTT tokens.

Meanwhile, similar FTX acquisition transactions were recorded by the tracker. Wallet named “Bonobo” added $25.7 worth of FTT tokens. The whale added around 1.1 million tokens in 2 different transactions. As per the stats, ETH whales bought around $553.3 million worth of FTT tokens in the last 24 hours. This has landed the FTX token on the tally of the top 10 tokens purchased by the largest 1000 ETH whales over the past 24 hours.

FTX price down by 8% over past 7 days

The FTX token prices recorded a drop of more than 6% in the last 24 hours. It is trading at an average price of $23.2, at the press time. It is important to note that this massive purchase has proved to be insufficient to settle the vast selling sentiment of the market.

Meanwhile, FTT token price has declined by just 8% over the past 7 days. Where other big cryptos have registered a double-digit drop, the FTX has been losing a single digit. As the token is backed by the actual exchange it is considered a safer investment than other. The token is the 19th largest cryptocurrency with a total market value of over $3.2 billion.

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]

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