Ethereum Whales Are Accumulating Top ETH Rival and Dropping Dogecoin Competitor Shiba Inu

A leading whale-tracking platform says Ethereum (ETH) whales have been accumulating an ETH competitor that’s dipped in price over the past month.

According to WhaleStats, Fantom (FTM) has been among the top ten tokens purchased by the top 100 ETH wallets this week.

Fantom is trading at $1.34 at time of writing. The 43rd-ranked crypto asset by market cap is up more than 5.5% in the past week.

The top 100 ETH addresses have also been selling the popular memecoin and Dogecoin (DOGE) rival Shiba Inu (SHIB), according to WhaleStats.

SHIB is down 4% compared to where it was priced one month ago. The 15th-ranked crypto asset by market cap is up more than 9% in the past week.

In terms of Bitcoin (BTC) whales, crypto analytics firm Santiment notes on Twitter that deep-pocketed investors have been accumulating BTC since the beginning of Russia’s invasion of Ukraine.

“The amount of Bitcoin addresses holding 1k to 10k BTC has jumped by 8.3% since the Russia-Ukraine war was made official. The 2,203 addresses is at a 1-year high. Both this tier and the 100-to-1k BTC tier have historically foreshadowed price moves.”

Bitcoin is trading for $44,384.81 at time of writing.

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