Ethereum Whales Are Loading Up on Three Metaverse Projects and Two Ethereum Altcoins, According to On-Chain Analysis

The world’s largest Ethereum (ETH) whales are loading up on three metaverse altcoins as the crypto markets flash signs of improvement.

Outside of stablecoins and ETH, the play-to-earn blockchain gaming platform Gala (GALA) was the top target for the 100 largest Ethereum wallets on Sunday, according to blockchain tracker WhaleStats.

The top 100 ETH addresses purchased an average of $3,287 worth of GALA tokens over a 24-hour period this weekend.

The top 100 ETH whales also targeted Smooth Love Potion (SLP), a token used within the Axie Infinity (AXS) ecosystem to earn rewards and purchase creatures in the online battling game. The whales bought an average of $1,879 worth of SLP.

Additionally, the whales also purchased an average of $130 worth of the native token of the play-to-earn metaverse game The Sandbox (SAND). The Sandbox has recently been rallying on the announcement of being listed by US crypto exchange giant Coinbase.

The top 100 Ethereum wallets purchased an average of $645 worth of the native token for Compound (COMP), a decentralized finance platform for borrowing and lending crypto assets and $107 worth of CHSB, the native token for SwissBorg, a wealth management platform for cryptocurrencies.

The overall crypto market cap is up more than 7% in the past 24 hours.

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Featured Image: Shutterstock/Natalia Siiatovskaia/Mia Stendal