{"id":521636,"date":"2023-03-02T19:00:33","date_gmt":"2023-03-02T19:00:33","guid":{"rendered":"https:\/\/ktsl888.com\/?p=521636"},"modified":"2023-03-02T18:44:54","modified_gmt":"2023-03-02T18:44:54","slug":"ethereum-whales-have-interest-in-shib-matic","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum\/ethereum-whales-have-interest-in-shib-matic\/","title":{"rendered":"Ethereum Whales More Interested In Shiba Inu Than Polygon, Here\u2019s Why"},"content":{"rendered":"

According to data from Whalestats, a tracker for large crypto investors, Ethereum whales have shown more interest in Shiba Inu (SHIB) than <\/span>Polygon<\/span><\/a> (MATIC). Over the past few days, a large amount of SHIB tokens have been recorded to be stored more than MATIC by Ethereum whales.<\/span><\/p>\n

Whales are described as the largest investors in an asset. Given their immense buying power and capacity to influence price action, they have always had a significant role in the crypto market.<\/span><\/p>\n

Ethereum Whales Holds More SHIB Than MATIC<\/span><\/h2>\n

Earlier today, Whalestats <\/span>revealed<\/span><\/a> that the top 1,000 Ethereum whales hold an average of $619 million, about $500 million higher than their $170 million worth of MATIC. Notably, last month, several reports revealed Ethereum whales massively accumulating MATIC.\u00a0<\/span><\/p>\n

On February 8, Whalestats reported ETH whales <\/span>buying over $2 million of MATIC<\/span><\/a>. A day later, WhaleAlert, another crypto whale tracker, said that huge MATIC transactions were occurring on the blockchain.<\/span><\/p>\n

According to the tracker, a trade of 38,000,000 MATIC, worth more than $50,000,000 at the time, was <\/span>executed from an unknown wallet<\/span><\/a> to an anonymous wallet. Furthermore, the $619 million worth of SHIB, reported by Whalestats, ETH whales hold represents just 10% of Ethereum whales\u2019 altcoins.\u00a0<\/span><\/p>\n

There is a lot of uncertainty about whether the market will see another rally or bearish trend; most investors have their assets stored in stablecoins, a non-volatile type of crypto-backed by real word currency such as the U.S. dollar.\u00a0<\/span><\/p>\n

While the top ETH whales hold $619 million worth of SHIB, they hold more stable assets such as USDC worth $1.06 billion and USDT worth $808 million on average. ETH whales hold more SHIB and MATIC as alternative assets, along with Chainlink (LINK) and Uniswap (UNI).\u00a0<\/span><\/p>\n

Related Reading: MATIC Can Bounce Back If It Remains Above Bullish Order Block<\/a><\/div>\n

SHIB And MATIC Price Action<\/span><\/h2>\n

Regardless of the ETH whales’ interest in it<\/span>, <\/span>Shiba Inu (SHIB) <\/span><\/a>is currently in a bearish trend, down by 3% in the past 24 hours with a trading price of $0.00001198 and a 24-hour trading volume of $194 million.<\/span><\/p>\n

\"Shiba
Shiba Inu (SHIB) price is moving sideways on the 4-hour chart. Source: SHIB\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

Though the token is in a downtrend, it is still up by over 40% since the beginning of the year after following the ubiquitous plummet last year. Despite its significant spike since 2023, SHIB is still 86% down from its peak of $0.00008616 in October 2021.\u00a0<\/span><\/p>\n

Related Reading: Shiba Inu Price At Pivotal Point, Only 352 Million SHIB Burned In February<\/a><\/div>\n

Meanwhile, MATIC is no different; the asset is still 59% down from its all-time high of $2.92 despite its notable uptrend since the beginning of the year and <\/span>Polygon’s collaborations<\/span><\/a> with several Web3 and big tech firms.\u00a0<\/span><\/p>\n

\"Polygon
Polygon (MATIC) price is moving sideways on the 4-hour chart. Source: MATIC\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

At the time of writing, MATIC is also in a bearish trend along with the rest of the crypto market, down by 3.6% in the past 24 hours with a trading price of $1.20 and a 24-hour trading volume of $487 million. <\/span><\/p>\n

Featured image from UnSplash, chart from TradingView.com.<\/div>\n","protected":false},"excerpt":{"rendered":"

According to data from Whalestats, a tracker for large crypto investors, Ethereum whales have shown more interest in Shiba Inu (SHIB) than Polygon (MATIC). Over the past few days, a large amount of SHIB tokens have been recorded to be stored more than MATIC by Ethereum whales. Whales are described as the largest investors in an asset. Given their immense buying power and capacity to influence price action, they have always had a significant role in the crypto market. Ethereum Whales Holds More SHIB Than MATIC Earlier today, Whalestats revealed that the top 1,000 Ethereum whales hold an average of $619 million, about $500 million higher than their $170 million worth of MATIC. Notably, last month, several reports revealed Ethereum whales massively accumulating MATIC.\u00a0 On February 8, Whalestats reported ETH whales buying over $2 million of MATIC. A day later, WhaleAlert, another crypto whale tracker, said that huge MATIC transactions were occurring on the blockchain. According to the tracker, a trade of 38,000,000 MATIC, worth more than $50,000,000 at the time, was executed from an unknown wallet to an anonymous wallet. Furthermore, the $619 million worth of SHIB, reported by Whalestats, ETH whales hold represents just 10% of Ethereum whales\u2019 altcoins.\u00a0 There is a lot of uncertainty about whether the market will see another rally or bearish trend; most investors have their assets stored in stablecoins, a non-volatile type of crypto-backed by real word currency such as the U.S. dollar.\u00a0 While the top ETH whales hold $619 million worth of SHIB, they hold more stable assets such as USDC worth $1.06 billion and USDT worth $808 million on average. ETH whales hold more SHIB and MATIC as alternative assets, along with Chainlink (LINK) and Uniswap (UNI).\u00a0 Related Reading: MATIC Can Bounce Back If It Remains Above Bullish Order Block SHIB And MATIC Price Action Regardless of the ETH whales’ interest in it, Shiba Inu (SHIB) is currently in a bearish trend, down by 3% in the past 24 hours with a trading price of $0.00001198 and a 24-hour trading volume of $194 million. Though the token is in a downtrend, it is still up by over 40% since the beginning of the year after following the ubiquitous plummet last year. Despite its significant spike since 2023, SHIB is still 86% down from its peak of $0.00008616 in October 2021.\u00a0 Related Reading: Shiba Inu Price At Pivotal Point, Only 352 Million SHIB Burned In February Meanwhile, MATIC is no different; the asset is still 59% down from its all-time high of $2.92 despite its notable uptrend since the beginning of the year and Polygon’s collaborations with several Web3 and big tech firms.\u00a0 At the time of writing, MATIC is also in a bearish trend along with the rest of the crypto market, down by 3.6% in the past 24 hours with a trading price of $1.20 and a 24-hour trading volume of $487 million. Featured image from UnSplash, chart from TradingView.com.<\/p>\n","protected":false},"author":580,"featured_media":520342,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[8323,1946,40670,83584,83668,83667,14781],"class_list":["post-521636","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-eth","tag-ethereum","tag-matic","tag-polygon","tag-shib","tag-shiba-inu","tag-whales"],"acf":[],"yoast_head":"\nEthereum Whales More Interested In Shiba Inu Than Polygon, Here\u2019s Why<\/title>\n<meta name=\"description\" content=\"Ethereum (ETH) whales have shown interest in Shiba Inu (SHIB) more than Polygon (MATIC). 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. 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