When the crypto markets show signs of stability, the largest Ethereum whales are accumulating Chainlink, a decentralized oracle network, and decentralized finance (DeFi) altcoins.
WhaleStats reports that the top 100 Ethereum whales are currently most interested in three stablecoins and over a half dozen altcoins, and of course, Chainlink with an average buy-in of $990 for 130 LINK tokens.
Chainlink connects chains via a decentralized oracle network, which connects external data sources to various blockchains.
- A virtual ledger similar to the one used by cryptocurrencies is at the heart of decentralized finance (DeFi), an emerging financial technology. Money, financial products, and financial services are no longer in the hands of banks and institutions.
- In addition to NEXO, a crypto lending platform, and UMA, an asset creation platform, several Ethereum whales are returning to the DeFi sector.
- ETH-token Maker, a governance token supported by DAI, a stablecoin pegged to the US dollar one-to-one
- CRV, the governance token of stablecoin-focused decentralized exchange Curve Finance, where each whale received an average of 200 CRV tokens for $280.
- Another is the Play-to-Earn blockchain gaming platform Gala (GALA). Ether whales bought 2,499 GALA tokens for an average of $230 each.
- Blockchain technology is used in the play-to-earn business model. The players can earn cryptocurrency by playing games. Players can obtain potentially valuable in-game assets through play-to-earn games.
- Ethereum whales are also pursuing algorithmic stablecoin TerraUSD (UST), in addition to US Dollar Coin (USDC) and Tether (USDT).
The whales spent an average of $336,737 on Ethereum tokens to accumulate 158 of them.