A crypto whale has bought a large amount of Dogecoin, according to data shared by WhaleStats, a crypto data platform that monitors the activities of giants based on the Binance Smart Chain (BSC).
The mysterious Binance Coin whale, dubbed “Scarlet Witch” by the Reddit community, completed the trade earlier today. According to the data, they purchased 400 million DOGE for $31.66 million and paid $0.11 in fees for the transaction, which took place today.
Scarlet Witch is the 74th-largest whale on the Binance Smart Chain and is one of the top in ranking.
Dogecoin is highly popular among crypto investors
Even though small traders have chosen to keep stablecoins rather than sell them, cryptocurrency whales are taking advantage of low prices in the market to increase their stakes in various cryptocurrencies.
Despite the substantial downfall in Dogecoin since last year, top cryptocurrency figures have continuously backed the memecoin. DOGE is currently changing hands at $0.07, down 89.3 percent from its all-time high.
Whales keep a tight grip on Ethereum (ETH)
Despite the downturn in the market, the world’s wealthiest crypto investors are still bullish on Ethereum (ETH), according to Santiment.
The top 10 non-exchange wallets have a high proportion of Ethereum in their portfolio and now hold 3.4 times more ETH than exchanges, according to Santiment. At the time of this writing, Ethereum is selling for $1,769.
Santiment also claims that wealthy investors are accumulating Chainlink (LINK). The company claims that whales have been buying the asset since last month when the price of the decentralized oracle network dropped to less than $6.
According to the analytics firm, LINK, along with Cardano (ADA) and Helium (HNT), is holding up well in the face of crypto market volatility at the start of June. Meanwhile, Bitcoin and Ethereum are trading sideways.
