Largest Ethereum Whales Heavily Loading Up on One Crypto Exchange Token, According to WhaleStats

New data shows that the biggest Ethereum (ETH) whales in existence are heavily accumulating one crypto exchange token that’s been trading under the radar over the last few weeks.

The most recent figures from WhaleStats are revealing the purchasing behaviors of the 1,000 largest non-exchange Ethereum addresses.

The whale-surveillance website shows that in the last seven days, deep-pocketed crypto holders bought an average of $2.62 million worth of Ethereum and $1.15 million worth of stablecoin Tether (USDT). Coming in at number three is FTX Token (FTT), the utility asset of crypto derivatives exchange FTX, with an average purchase amount of $728,038.

The accumulation of FTT by the largest Ethereum whales becomes more transparent when looking at the 30-day horizon. WhaleStats show that the wealthiest ETH holders purchased $2.35 million worth of FTT on average in the last 30 days.

Source: WhaleStats

One Ethereum whale, in particular, has been loading up on FTT. The whale-tracking platform reveals that an anonymous wallet address has accumulated more than 14.74 million FTT coins worth a staggering $747.76 million. Most of the whale’s massive FTT trove was bought in the last day as WhaleStats show that the big-time crypto holder increased his FTT holdings by nearly 3,000% in the last 24 hours.

FTT is currently exchanging hands at $50.62, up 2.49% in the last 24 hours but still down nearly 40% from its all-time high of $84.75.

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Featured Image: Shutterstock/S-Design1689/Tun_Thanakorn