The crypto market seems to be recovering to some extent with the price of BTC rising to $43,812 (at the time of writing). However, Bitcoin is not the only digital asset that has seen some positive movement in the crypto space.
Polygon (MATIC) and Chainlink (LINK) are reportedly being loaded up by some of the top Ethereum Whales. This information has been shared by a resource that monitors the Whales.
As the crypto market recovers from the downward momentum seen over the last few weeks, the Whales have started accumulating crypto. Many are now wondering if this can be an indication of a massive price surge for cryptocurrencies.
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The Shift in the Crypto Market
According to reports, the richest wallet addresses on the Ethereum network have been investing in Polygon and Chainlink as the crypto market started moving upwards.
However, Polygon and Chainlink are not the only two cryptocurrencies to get the attention of Ethereum Whales. The top 1,000 largest addresses on the Ethereum network have also been seen to load up ETH and the prominent stablecoins USDC and USDT.
Here are some of the top altcoins and tokens that have been purchased by the top Ethereum Whales along with the average purchase amount.
- ETH with an average purchase of $1.1 million
- USDC with an average purchase of $830,000
- USDT with an average purchase of $550,000
- Polygon’s MATIC with an average purchase of $67,000
- Chainlink’s LINK with an average purchase of $35,000
- BUSD with an average purchase of $23,000
- Wrapped Bitcoin (WBTC) with an average purchase of $10,000
It has also been seen that over the last 30 days, the price of Bitcoin has dropped almost 13% while that of MATIC and LINK have surged around 12% and 33%, respectively.
Here is a graph by CoinMarketCap that shows the price of the flagship crypto asset over the last seven days.
Despite the price fluctuations seen for BTC, its significance and value cannot be denied. Therefore, if you are interested in buying this crypto asset then make sure you choose one of the lowest fee crypto exchanges.
What Should Crypto Investors and Traders Know?
One of the most important details crypto investors and traders know is that they should always choose the best platform from a crypto exchange list, regardless of the cryptocurrency they want to invest in.
The significance of choosing a secure and suitable platform is higher than one might imagine. You need to choose a secure exchange so you can buy, sell or trade crypto without any safety risks and more.
The crypto market is a volatile place and the prices of digital assets keep moving up and down. However, the significance of these assets seems to remain intact.
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