There are many ways how you can gain profits in crypto. One option is to follow whale wallets and see what they are buying. This shows you what the owners of these wallets are accumulating. If they go crazy over some tokens, most likely there’s something cooking. Where there’s smoke, there must be a fire.
So, my research team and I found 4 tokens for you that whales are currently adding to their wallets. Time to have a look where that big money flows to. Here are also some useful sites to follow, for this kind of information: Santimant and Whalestats.
So, here’s my first pick. If one token has been making waves during the last couple of months, it must be MATIC. It’s now rank #8 by market cap. Wherever you looked, Polygon was always in the news.
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Asset tokenization #onPolygon is shaking up traditional finance like never before. In other words, it’s total #DeFi DOMINATION 😏
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— Polygon (@0xPolygon) February 23, 2023
It’s no secret that at Altcoin Buzz, we are fans of MATIC. Polygon has also been extensively covered by us on our channel here. Here’s our latest video.
By now, you should know about all the Web2 companies that want an entry into Web3. How Disney, Starbucks, Adidas, Meta, Stripe, and many more all chose Polygon. Or about the groundbreaking Zero Knowledge technology they use.
But what are the whales doing with MATIC? Well, they are stacking MATIC. Towards the end of January, one whale added 59 million MATIC to his wallet. That was a cool $56 million at the time being. As a result, MATIC jumped 20% in price.
So, whalestats tells us that of all Ethereum-based tokens, MATIC is right up there. It’s the 4th of all ETH-based tokens. Whales hold 3.86% in MATIC. That’s an average of 1.89 million MATIC per wallet in the top 100. Currently, that’s 1.3 million tokens per wallet. These are some impressive stats.
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You can now buy Unstoppable domains with $MATIC, $WETH, and $USDC on the @0xPolygon blockchain.
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— unstoppable.nft (@unstoppableweb) February 23, 2023
The current price of MATIC is $1.34. The market cap is $12.1 billion. Of the 10 billion max supply, 9 billion are already in circulation. Are you a MATIC holder? If so, at what price did you buy most of your MATIC? And we move on to #2 on the list, Cardano and ADA.
ADA is another token that whales have been adding to their wallets. This year, ADA has already seen a price increase of 60%. On 1st of January, it was just below a quarter dollar cent. Now it’s $0.38. In market cap, they’re ranked #7. Their market cap is $14.2 billion. Out of 45 billion max supply of tokens, 35 billion are in circulation.
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— Cardano Foundation (@Cardano_CF) February 21, 2023
There are also not so many other coins that keep emotions as high as with Cardano. Only a month ago, we did a deep dive video about Cardano. So, what has been moving and shaking at Cardano?
- Their DeFi ecosystem is doing good. During the last 7 days, their TVL went up by 22%. But during the last 30 days, it went up by 70.42%! Almost $125 million is currently locked. We need to go back to July 2022 when we last saw this.
- Another big event was their Djed stablecoin going live in early February. Adaption seems to be on the rise. The market cap went from $1.7 million to $2.17 million. This is an overcollateralized stablecoin, backed by the ADA token. With 31 million ADA in its base reserve, Djed has a 514% collateral ratio.
We recently shared some of our ongoing activities to drive #blockchain technology and increase adoption.
We are working to make the #Cardano blockchain a base layer for current and future financial and social systems.
📺 https://t.co/MIBbu1Sjxo#CardanoFoundation pic.twitter.com/f6arhTCiwy
— Cardano Foundation (@Cardano_CF) February 9, 2023
And the whales? Well, they kept buying ADA. They went crazy as of early February. We see 1700 txs of over $100K per day! Whales and sharks are busy stacking ADA. So, what side of the camp are you on with ADA? Are you an ADA die hard or the opposite? Let’s move on to a coin that got lots of attention in January, AAVE.
AAVE has been in the spotlights recently. In January, this token saw a 60% price increase. Plenty of news came recently from the Aave camp. You may want to check out this short Aave explanation video we did 2 months ago. Aave is a DeFi lending and borrowing protocol. It started out on Ethereum but is nowadays represented on 7 chains.
You can now access the Aave Protocol natively in the @Ledger Enterprise platform. Learn more here 👇https://t.co/n0x8BNAZov pic.twitter.com/bhvKTVKwIY
— Aave (@AaveAave) February 16, 2023
Its TVL is $4.83 billion, but Ethereum sees $4.18 billion locked. So, what’s been cooking at Aave recently?
- Aave has a new stablecoin: GHO. It’s currently live on testnet.
- The end of January saw that the community gave the green light for Aave V3 on Ethereum. This offers plenty of new features.
- Adding stablecoins and liquid staking derivates (LSDs)
- Reducing gas fees by 20-25%.
Plenty of positive news coming from the Aave camp. So, how did the whales react to this? Well, they started to stack AAVE. In January, we could observe a few days with well over 100 txs that had at least $100k. Many BSC whales stacked AAVE. Ethereum’s whales have almost 1% of their holdings in AAVE. That’s currently $47.9 million.
Big thank you to our Aave Fam! 🤍
For more details on the V3 ETH deployment and how to migrate your assets from V2 ➡️ V3, check out our latest blog here:https://t.co/2XMR7oN3ED
— Aave (@AaveAave) January 27, 2023
AAVE’s price is $85.73. The market cap is at $1.22 billion. Out of 16 million tokens, 14.2 million already circulate.
4) Stablecoins (USDC or USDT)
So, here’s the last whale move of the day. We see that 2 stablecoins take up a 30% position in Ethereum whale wallets:
- USDC with a 15.83% position. ($778 million)
- USDT has 14.13%. ($694 million).
In other words, there’s still plenty of liquidity waiting on the sidelines. Not all whales are ready to commit and go all in. In volatile times, stablecoins are a safe haven. As these whales show.
By trading volume, these 2 stablecoins are ahead of the pack. They are also the most sold and bought tokens. But it’s USDC that takes the cake here. It’s the most used stablecoin. So, if you’re still not 100% sure what coins or tokens you want to buy. Get some stablecoins and keep them at the ready.
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