Large Holders Of Ethereum Actively Bought One Altcoin

According to the WhaleStats service, the largest holders (whales) of the Ethereum (ETH) cryptocurrency were actively buying up one little-known altcoin last week. We are talking about a decentralized finance (DeFi) project based on Solana – Serum. The analytics service noted that over the past 7 days, the top 100 ETH wallets have purchased Serum (SRM) for an average of more than $1.9 million.

Market experts noted that the attention to the cryptocurrency startup coincided with the fact that Chainlink, Shiba Inu, and other altcoins, which were previously popular with whales, have fallen significantly in recent times. At the same time, the interest of users in Serum has grown several times, since last week the whales, on average, purchased the asset for only $237,000.

According to the analysts of the CoinMarketCap service, SRM is in the 160th position in the ranking of all cryptocurrencies in terms of market capitalization – $331.17 million. The cost of the token is $2.49, which is 2.68% higher than similar figures from a day ago. The amount of funds locked in smart contracts (TVL) of the Serum decentralized exchange is $698.29 million.

Analysts noted that the project gained its popularity thanks to the open support of the head of the FT crypto exchange, Sam Bankman-Fried.

Experts from WhaleStats also highlighted that the top 100 ETH addresses sold the popular Shiba Inu (SHIB) meme token for an average of $679.41k over the past 7 days. Cryptocurrencies Chainlink and Ethereum also recorded significant outflows from the wallets of the network’s largest accounts.

Earlier edition of Crypto.ru informed that the Nansen Service announced the addition of Solana network support to the functionality of its service. This is due to the fact that users are showing increased interest in non-fungible tokens (NFTs) and the decentralized finance (DeFi) sector based on this blockchain.

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