Large ETH investor has paid substantial sum to buy over 142 billion Shiba Inu, while other whales overall have been selling part of their SHIB stashes
Another big buy in Shiba Inu tokens was reported by crypto tracking platform WhaleStats which focuses on wallets based on five major chains: Ethereum, BNB Chain (BSC), Fantom, Avalanch and Polygon.
An owner of a large wallet on Ethereum bought more than 142 billion Shiba Inu 15 hours ago. This is not his biggest recent purchase of SHIB.
Meanwhile, the overall SHIB balance held by ETH whales fell below the $500 million mark.
142.6 billion SHIB added by whale
As per a recent tweet by WhaleStats, an Ethereum investor whose wallet is titled “BlueWhale0073” has again bought a massive amount of SHIB—142,670,797,289 tokens. The amount of USD paid for that chunk of meme crypto was $1,539,417.
Earlier this week, wallet owner “BlueWhale0073” also purchased 86,740,251,500 Shiba Canine Tokens.
However, currently, SHIB is one of the smallest holdings of this investor; along with other small cap tokens, it comprises 0.78% of the whale’s portfolio. The biggest assets held in this wallet are dollar-backed stablecoins USDT and USDC. LINK is the third largest position of this investor.
Whales’ SHIB balance drops below $500 million mark
As some whales continue to buy SHIB on the downside and sell it back once the price rises a bit, the number of wallets holding this token for the long term is decreasing.
As per WhaleStats, the overall amount of Shiba Inu held by ETH whales has now dropped below the $500 million mark, now comprising $486,675,304 worth of SHIB. That is slightly less than 11% of the whales’ comprised portfolio.
Curiously, the SHIB reserve held by the top 100 whales on ETH is larger than that of the USDT stablecoin; the latter constitutes 10.57% against 10.84% of the SHIB.
After Terra’s UST collapsed below zero recently, and USDT’s dollar peg went through slight turbulence, the trust of these investors in this Tether stablecoin seems to have diminished.
