ETH Whales Swallow Up Audius Coin As 2022 Crypto Market Continues To Decline

1 min read

Ethereum whales have turned their attention to a slew of altcoins across multiple sectors as ETH and the broader crypto markets continue to decline.

ETH whales, according to blockchain tracking service WhaleStats , have purchased decentralized borrowing and lending protocol Aave the third most among all crypto assets in the last 24 hours.

As per WhaleStats, Ethereum whales have clocked an average purchase amount of 151 AAVE worth $26,262.

Also in the decentralized finance (DeFi) sector, ETH whales are accumulating Compound (COMP), an algorithmic, autonomous interest rate protocol, the on-chain data reports.

The deep-pocketed crypto holders on the Ethereum network are also paying attention to two altcoins in the decentralized media sector.

Livepeer (LPT) is the third most purchased altcoin by Ethereum whales in the last 24 hours, followed by Audius (AUDIO).

Livepeer aims to provide a decentralized video-streaming protocol while Audius is trying to create a decentralized, artist-centric audio streaming service.

Also showing up on the list of most sought-after altcoins by ETH whales is NuCypher (NU), which offers cryptographic services such as access control and data privacy. NU is the sixth most purchased token by ETH whales, excluding stablecoins and ETH.

After NU is Spell (SPELL), an Ethereum token that governs, a platform that lets users deposit collateral in the form of interest-bearing crypto assets.

Rounding out the list is PAX Gold (PAXG), an Ethereum-based stablecoin that is issued by Paxos and backed by gold. The top altcoins held by ETH whales are stablecoin USD Coin (USDC) and Ethereum itself.

Source: WhaleStats

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Featured Image: Shutterstock/jamesteohart/Natalia Siiatovskaia


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