Top ETH Whales Add These DeFi Tokens Amid Crypto Volatility
The Global cryptocurrency market is still trading under pressure. However, the crypto whales seem to be trading into DeFi in order to keep up with returns on their investments. According to the data, the largest wallets have added a good amount of Wrapped Bitcoin (WBTC) and Wrapped Ethereum (wETH) amid the price dip.
“Saruman” adds $10.3 mln worth of wETH
The biggest crypto tokens, Bitcoin and Ethereum haven’t performed well in the 30 days. BTC and ETH are down by 31% and 37%, respectively in the past 30 days. This has led the market to suffer terribly. The global crypto market stands at a valuation of $1.25 trillion which is down by over 3% over the last day.
In the meantime, the biggest of the ETH whales have been seen adding WBTC and wETH into their wallet. As per WhaleStats, A whale named “Saruman” has bought around $10.3 million worth of wrapped Ethereum in multiple transactions over the last 24 hours. However, the whale acquiring 1,321 wETH for $2.6 million is the largest transaction recorded at the same time.
The wETH is required to trade ETH for other ERC-20 tokens in Dapps as they run on smart contracts to facilitate trades between users. As we dig in, it shows that the “Saruman” is holding $32.7 million worth of wrapped Ethereum in its wallet. The ETH is trading at an average price of $1971 in the last 24 hours.
Top 100 ETH whales hold $41.03 mln worth of WBTC
The ETH whales seem to be going after the top wrapped tokens at the moment. They have added around $86.3 million worth of 2951 Wrapped Bitcoin in the last 24 hours. A whale named “BlueWhale0090” has single handedly added over $48.7 million worth of WBTC. Meanwhile, the “Saruman” has also added a whopping 999 WBTC for $29.31 Million.
As per data, the 100 biggest of the ETH whales are holding over $41.03 million worth of WBTC amid these market conditions. The bitcoin is trading at an average price of $29,199, at the press time.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Why Is Crypto Market Up Today?
- Trump Tariffs: Crypto Market Surges After $400B Dividend Announcement for Americans
- Michael Saylor Hints Bitcoin Buy As Goldman Sachs Predicts Three Fed Rate Cuts
- What’s Behind Ethereum’s Drop: Macro, TVL, DeFi & Liquidity Zones
- Bitcoin ETFs Record Biggest Daily Outflow Since August as OG Whales Cash Out
- After a 17% Jump, Is Litecoin Price Rebound Sustainable Amid Dominant Sell Activity?
- Cardano Price Soars 10% Amid Retail Accumulation: Will Bulls Target $1?
- Bitcoin Price: How Low BTC Could Fall by the End of 2025?
- Post-Giveaway Supply Shock: Impact on FUNToken’s Liquidity and Market Depth
- Aster Price Poised to Hit $2 as Coinbase Adds ASTER to Listing Roadmap
- Filecoin Price Rockets 51% as Grayscale’s FIL Holdings Hit Record High — What’s Next for FIL?
