Deep-pocketed crypto investors are snapping up Ethereum scaling solution Polygon (MATIC), Loopring (LRC) and two other small-cap altcoins amid the rebound across the digital asset market.
New data from WhaleStats shows that Polygon has replaced LINK as the number one traded token among the richest Ethereum holders in the last 24 hours as MATIC enjoys healthy price rallies.
JUST IN: $MATIC @0xPolygon had flipped $LINK to be most traded token by 1000 biggest ETH wallets ??
?? $MATIC price ups 10.6% in the last 24hrs with a current price of $1.72
Whale leaderboard: https://t.co/28TDZ6JFiD pic.twitter.com/8pXJ1khc2j
— WhaleStats – the top 1000 Ethereum richlist (@WhaleStats) February 5, 2022
Ethereum whales were spotted on Friday buying up MATIC periodically in million-dollar purchases. One Ethereum whale, ranked as the fourth biggest in existence, bought 2,838,000 MATIC for approximately $4.73 million. In another transaction, one whale bought $2 million worth of MATIC tokens. A third whale purchased $1.5 million worth of MATIC in a separate transaction.
Looking at the list of the top tokens that Ethereum whales have bought the most in the last seven days, MATIC sits at number five with an average purchase amount of $41,220.
Ethereum whales are also going after Loopring (LRC) with an average purchase amount of $7,865 to take the seventh spot. Loopring is an Ethereum token that aims to allow anyone to build non-custodial, order book-based exchanges on the Ethereum network using zero-knowledge (ZK) proofs.
Render Token (RNDR) comes in at number eight with an average purchase amount of $7,197. RNDR aims to allow anyone with a modern GPU to contribute their rendering power in exchange for tokens, in turn increasing the scale and availability of GPU compute for artists, designers and researchers.
Grabbing the ninth spot is Sushi (SUSHI), the native asset of decentralized exchange SushiSwap. On average, ETH whales purchased $6,735 worth of SUSHI in the last seven days.
Other coins on the list include Ethereum itself and a number of stablecoins.
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Featured Image: Shutterstock/Tithi Luadthong/Natalia Siiatovskaia