Ethereum investor purchases 142.6 Billion SHIB after SHIB holding by whales fall below $500 million

According to a recent tweet by WhaleStats, an Ethereum investor known as “BlueWhale0073” purchased a tremendous number of SHIB—142,670,797,289 tokens. As the total value of SHIB held by ETH whales has fallen below $500 million. $1,539,417 in USD was paid for that portion of meme crypto.

The owner of the “BlueWhale0073” wallet also purchased 86,740,251,500 Shiba canine tokens earlier this week.

However, SHIB is now one of this investor’s smaller holdings, accounting for 0.78 percent of the whale’s portfolio together with other small cap tokens. The dollar-backed stablecoins USDT and USDC are the most valuable assets in this wallet. This investor’s third largest holding is in LINK.

One more large acquisition of Shiba Inu tokens has been accounted for by WhaleStats crypto following stage that is centred around wallets in view of five top chains: Ethereum, BNB Chain (BSC), Fantom, Avalanch and Polygon.

While some whales continue to buy SHIB in the fall and sell when the price rises, the number of wallets holding this token long-term is dwindling.

According to WhaleStats, the total amount of Shiba Inu held by ETH whales has now fallen below $500 million, totaling $486,675,304 SHIB. This is slightly less than 11% of the whales’ total portfolio.

Surprisingly, the SHIB hoard held by the top 100 whales on ETH is larger than the USDT stablecoin; the latter accounts for 10.57 percent of SHIB, while the former accounts for 10.84 percent.

After Terra’s UST fell below zero lately, and USDT’s dollar peg experienced some volatility, these investors’ faith in this Tether stablecoin appears to have waned.

Read more:

Ethereum co-founder Buterin proposes ‘soulbound’ NFTs as roadmap to decentralised society