These Whales Added $986 mln Worth Of FTX tokens

The Biggest of the Ethereum (ETH) whale wallets went on a buying spree on Friday. It ended with the accumulation of over $986 million worth of FTX tokens (FTT).

“BlueWhale0079” adds 24 million FTX token

According to the whale tracker, the FTT has topped the tally of most purchased tokens by the biggest 100 ETH whales. A wallet named “BlueWhale0079” added more than $626.5 million worth of FTX tokens.

The accumulation of 24 million FTT came in just two transactions. The largest transaction recorded by the tracker was valued at $362.8 million. However, the second transaction worthed $263.7 million. Meanwhile, the “BlueWhale0079” wallet also added $2.11 million worth of UNI tokens.

Another ETH whale named “Bonobo” bought more than $360 million worth of FTX tokens. This accumulation also came into 2 transactions. As per WhaleStats, the wallet added around 14.09 million FTT tokens. However, the largest transaction recorded was valued at $357.8 million.

As we dig in, the FTX stands at the top spot as the biggest token by trading volume in the last 24 hours. It has also made it to the tally of most used contracts by the top whales in the last 24 hours.

Does this accumulation reflect SBF’s good deeds?

Meanwhile, the FTX token hasn’t shown any price action reflecting the accumulation. The token is marginally up by 1% in the last 24 hours. It is trading at an average price of $25.74, at the press time. However, its 24 hour trading volume recorded a jump of over 30% to stand at $82 million.

Seems like recent activities done by FTX Chief Sam Bankman-Fried (SBF) have boosted the investors’ interest in the token. SBF has come to help the collapsing crypto industry.

Recently, FTX gave out a $250 million loan to BlockFi. It was reported that a revolving credit facility from FTX will be proved from the crypto exchange. However, the rate of interest and other terms weren’t disclosed. Earlier, SBF helped a crypto broker Voyager Digital by pulling it out from the brink.

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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