– A BNB whale makes a massive Dogecoin purchase. – Top crypto whales maintain a tight grip on Ethereum.
A BNB whale bought a large amount of Dogecoin. Dubbed “Scarlet Witch” by the Reddit community, the whale purchased 400 million DOGE for $31.66 million and paid $0.11 in fees for the transaction.
Dogecoin is highly popular among crypto investors such as Scarlet Witch. The whale in question is the 74th-largest whale on the Binance Smart Chain. Whalestats tracks up to 5000 of the largest Ethereum wallets (the "whales"), who are worth an average of $14,174,845 and hodl an average of 9,930 ETH, 7 tokens, and 1 NFT.
Amidst the crypto winter, small traders have chosen to keep stablecoins rather than sell them. At the same time, crypto whales are taking advantage of the low prices to increase their crypto stash. Despite the substantial downfall in DOGE since last year, top crypto figures have continuously backed the memecoin.
The top 10 non-exchange wallets have a high proportion of Ethereum in their portfolio. They hold 3.4 times more ETH than exchanges. Wealthy investors are also accumulating Chainlink (LINK). Santiment states that whales have been buying the asset since last month when the price of the decentralized oracle network dropped to less than $6. LINK, Cardano (ADA), and Helium (HNT) are holding up well in the face of crypto market volatility at the start of June. Meanwhile, Bitcoin and Ethereum are trading sideways.
It is highly unlikely that whales will give up on their crypto portfolios. On the contrary, investors who have long survived crypto winters are taking advantage of the present circumstances to grow their wealth. However, the same cannot be said for crypto novices. Most are in despair and active in crypto sell-offs.