Shiba Inu, FTT, Others Gain Traction Among Top Ethereum Wallets

Popular meme coin Shiba Inu and the native token of FTX exchange, FTT, are among the top six altcoins, which now make up over half of the total non-Ethereum coins held by the biggest 1,000 Ethereum whale accounts, says statistics from WhaleStats.

ETH Whales Hodl SHIB, USDT, and Other Alt Coins

The other hot coins are Tether, USDC, OKB, and GALA. Altogether, the altcoins represent over 52% of the total non-ETH assets of the top Ethereum whales. 

Ethereum whale describes people who possess large quantities of the second largest crypto asset by market cap.

At the time of this writing, the biggest ETH wallets hold 1.58 billion worth of FTT, the largest coin currently at 13.61% of their non-ETH assets.

They also hold a total of $1.42billion SHIB, which amounts to 12.23% of their non-ETH assets.

The top wallet that holds the third-largest non-Ethereum asset is Tether, also widely known as USDT, at $1.01 billion and totals 8.7% of the ETH giants’ non-ETH assets. 

Next, the whales also hold $516.4 million worth of GALA, which clocks in at a total of 4.44% of their total non-ETH assets. The GALA token is used as a means of payment in the Gala gaming platform.

Finally, the Ethereum whales hold over $507 million OKB, which contributes a total of 4.37% to their total non-ETH assets. OKB is a global utility coin issued by the OK Blockchain Foundation and OKEx and offers holders a wide variety of payment and trading options.

This comes just after an FTT spike occurred when Ethereum whales spent almost $2 billion on the coin, momentarily knocking off Shiba Inu as the most sought-after altcoin in the crypto sphere.

Many crypto experts hint at a 30% rise for Shiba Inu, which has been on a neutral swing for some time since its upsurge in October 2021 and a 40% increase in December.