According to data from WhaleStats, which monitors the movements of crypto whales, the 1,000 largest over-the-counter Ethereum wallets have accumulated an average of around $365,000 worth of ETH, $154k Tether (USDT) and 43k USD Coin (USDC) in the past 24 hours.
The DEX token Uniswap (UNI) and Blockchain oracle Chainlink (LINK) are on the list of the most purchased tokens by ETH whales in the past day.
This accumulation made the other day is almost three times the amount invested by ETH whales in the meme-themed altcoin project Shiba Inu (SHIB), which they bought for an average of $511 in the same period.
It seems like Ethereum whales are feeding off of small and medium-sized projects like metaverse-based gaming altcoin project The Sandbox (SAND), decentralized finance (DeFi) platform UMA (UMA), and gold-backed Paxos stablecoin PAX Gold (PAXG).
Alongside investments in leading altcoin project Ethereum (ETH), USDT and USDC, ETH whales have been accumulating ETH layer-2 solution Polygon (MATIC) more than any other altcoin project, with an average purchase amount of around $32,000 over the past day. MATIC, which ranks 15th in terms of market value, is trading at $2.32 at the time of writing, with an increase of 38.18 percent in the last week and 18.50 percent in the last 24 hours.