The WhaleStatsBSC twitter account, which follows whales in the cryptocurrency market, announced 20 altcoin projects held by the 1,000 richest BNB Chain whales (formerly known as Binance Smart Chain, BSC) alongside popular meme coins Dogecoin and Shiba Inu (SHIB).
Apart from minor cryptocurrencies, Dogecoin, SHIB, MATIC, ADA, LINK and DOT are among the cryptocurrencies favored by the biggest whales in BSC.
According to the tweet, MATIC is currently number one, with whales holding $72,415,106 in that currency. DOGE is the second most valuable cryptocurrency owned by these investors, at $46,070,284. Next up is Polkadot with a value of $39,212,310. The second-largest meme coin by market capitalization, Shiba Inu, ranks seventh with a total investment of $26,252,727. Cardano's native crypto, ADA, ranks tenth, followed by LINK. According to the tweet, BSC whales have $11,815,034 on ADA and $10,041,167 on Chainlink.
We see that Binance whales, which we look at the total, hold the following altcoins, respectively.
Bitcoin BEP2 (BTCB)
Binance USD (BUSD)
USD Coin (USDC)
Trias Token (TRIAS)
The ranking has changed since the same data was collected five days ago, and BSC whales now seem less enthusiastic about Bitcoin and Ethereum. On February 15, the top two biggest cryptocurrencies by market cap were at the top of this list. Currently, the altcoin market is bearish with Bitcoin and Ethereum. BTC is trading below $40,000 while Ethereum is trading around $2,700.
In cryptocurrency exchanges, the term 'whale' is used to describe individuals or organizations that hold large amounts of a particular cryptocurrency. As these individuals or institutions hold large amounts of coins, they become valuable enough to manipulate the valuation of a particular cryptocurrency.