A whale monitoring resource has found that the richest wallet addresses on the Ethereum network have been loading up on Polygon ($MATIC) and Chainlink ($LINK) as the cryptocurrency market recovers, with only Ethereum’s ETH and stablecoins leading these coins in terms of holdings.
According to data from WhaleStats, first spotted by DailyHodl, the 1,000 largest addresses on the Ethereum network have over the last few days been loading up on Polygon and Chainlink, along with ETH and leading stablecoins USDC and USDT.
The monitoring resource’s data shows that over the last seven days, the most purchased tokens by top Ethereum whales were ETH, with an average purchase of $1.1 million, followed by USDC, with an average purchase of $830,000, and USDT, with an average of $550,000.
Given the cryptocurrency market’s recent downturns, whales may have been loading up on stablecoins to wait on the sidelines as prices dropped and picked ETH and other altcoins to accumulate at cheaper prices.
