This Altcoin Beats SHIB After Massive Purchase Reached Top!

This Altcoin Beats SHIB After Massive Purchase Reached Top!
  • FTX has become the most-held cryptocurrency by dollar value among key investors, displacing the Shiba Inu after massive purchases by giant whales.

After three major Ethereum investors have collected $926.54 million worth of FTT in the last 24 hours FTX Token (FTT), It overthrew the Shiba Inu (SHIB) and became the largest holding in dollar terms among the top 100 ETH Whales.

This Altcoin Beats SHIB After Massive Purchase Reached Top!

ftx token

As a result, FTT replaced the Shiba Inu (SHIB) as the largest holding position in dollar terms among the top 100 ETH whales, retaking the spot it had lost to the Shiba Inu. This development came after the top three ETH Whales using the nicknames “Bonobo”, “BlueWhale0079” and “BlueWhale0116” added a surprising amount of FTX Tokens to their stash.

What is FTT?

FTT is the native cryptocurrency of FTX, an international crypto derivatives exchange founded on May 8, 2019 by Sam Bankman-Fried and Gary Wang. Often described as the “backbone” of the FTX exchange, FTT provides many advantages to its holders.

The terms “FTX token” and “FTT” are sometimes used interchangeably. By holding FTX tokens, you enjoy lower transaction fees and access a number of benefits on the FTX exchange, and you can also use your tokens as collateral for trading derivatives.

“Bonobo” trades $71.85M in altcoin

One of the top 100 ETH whales, “Bonobo,” according to Whalestats data, has collected an incredible 3 million FTX Tokens worth $71,850,000 ($71.85 million) in a single transaction in the past 24 hours.

“BlueWhale0079” buys $72M worth of FTX Tokens

According to data from the popular whale-watching platform WhaleStats, the whale, labeled as “BlueWhale0079” and ranked 516th on the platform’s largest ETH whales list, stashed 3 million FTX Tokens worth $72 million ($72 million) in a remarkable transaction. added.

515th largest ETH whale buys FTT worth $782.69 million

Ranked 515th among the top 1000 ETH whales on the WhaleStats platform, the whale with the nickname “BlueWhale0116” added a total of 33,025,000 (33.02 million) FTT to its portfolio worth $782,692,500 ($782.69 million) in two separate transactions.

BlueWhale0116 reportedly accumulated 13,500,000 (13.50 million) FTT worth $319,950,000 ($319.95 million) in its first transaction.

An hour after this closely watched transaction, the whale purchased 19,525,000 (19.52 million) FTTs worth 462,742,500 ($462.74 million) to complete its second transaction.

Overall, in the last 24-hour period, the three major ETH Whales totaled 39,025,000 (39.02 million), worth $926,542,500 ($926.54 million) in four separate transactions. FTX Token and topped the list of whales in the largest position by dollar value.

The popular cryptocurrency, which has been down for the past few weeks following the market’s downtrend and is down nearly 24 percent from the last 30 days, has gained over 3 percent following the market recovery at the time of writing and is trading at $24.42 at the time of writing.

You can check the price movements here.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.

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