{"id":506610,"date":"2022-10-17T23:00:00","date_gmt":"2022-10-17T23:00:00","guid":{"rendered":"https:\/\/uniquehot.com\/?p=506610"},"modified":"2024-06-11T08:01:07","modified_gmt":"2024-06-11T08:01:07","slug":"whales-across-these-five-chains-are-heavy-on-stablecoins-should-you-be-too","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/whales-across-these-five-chains-are-heavy-on-stablecoins-should-you-be-too\/","title":{"rendered":"Whales Across These Five Chains Are Heavy On Stablecoins, Should You Be Too?"},"content":{"rendered":"

Crypto whales all across the board have been seemingly taking more conservative positions in stablecoins since the bear market started. This has evolved into larger holdings in dollar-pegged cryptocurrencies which have very low volatility. These digital assets have since become a safe haven for investors who are looking to escape highly volatile tokens but still keep their funds in the crypto market.\u00a0<\/span><\/p>\n

Crypto Whales Move To Stablecoins<\/h2>\n

Usually, there has been a marked increase in the stablecoin holdings of the top Ethereum whales but this trend of moving into stablecoins seems to not be localized to just Ethereum whales alone. Data shows that the holdings of whales across 5 blockchains are increasingly skewing towards stablecoin holdings.<\/p>\n

Related Reading: Bitcoin Shakes Off Bears Following CPI Release, But Will This last?<\/a><\/div>\n

The 5 blockchains in this report are Ethereum, Fantom, BNB Chain, Avalanche, and Polygon, and takes a look at the holdings of the top 1,000 whales. The holdings of the largest whales across all of these chains are mostly in the native tokens of the chain, but stablecoins such as USDT and USDC are increasingly important to them.<\/p>\n

For the top 1,000 ETH whales<\/a>, USDC and USDT currently account for $842 million (26.9%) and $710 million (22.7%) of their holdings respectively. BNB Chain whales leaned even more heavily with BUSD making up 41.19% ($365 million) and USDT making up 16.22% ($144 million) of their holdings.<\/p>\n

\"USDT<\/p>\n

USDT market dominance at 7.68% | Source: Market Cap USDT Dominance on TradingView.com<\/a><\/pre>\n
Fantom (FTM) whales<\/a> were more into USDC with 30.75% ($12 million) of their holdings in the stablecoin, and 4.67% ($1.8 million) in fUSDT. Avalanche whales<\/a> hold 74.2% ($265 million) of their holdings in USDT, and 5.68% ($20.3 million) in USDC. Polygon whales<\/a> allocated the least to stablecoins with only 6.09% ($19.1 million) held in USDC.<\/p>\n
Time To Flee For Safety?<\/p>\n
Whale holdings and their investment trends can often sway investor sentiment because it shows what these large holders are thinking about the crypto market. Their recent move to stablecoin holdings shows that they expect the market prices to go much lower in the near future.<\/p>\n
Related Reading: Why You Should Start Paying Attention To Football Fan Tokens<\/a><\/div>\n
This is not strictly out of line given that indicators show that the crypto market has yet to see its bottom. Previous bear markets have seen the prices of digital assets such as bitcoin and Ethereum falling more than 80% each, putting the market bottom of bitcoin at around $13,000.<\/p>\n
Given this, and the fact that the market follows the price of bitcoin, if it is not at the bottom, it is a good time to seek safe haven in these digital assets. It helps investors preserve the value of their funds while waiting for better market conditions to start reinvesting.<\/p>\n
Featured image from Schroders, chart from TradingView.com<\/pre>\n
Follow <\/i><\/b>Best Owie on Twitter<\/i><\/b><\/a> for market insights, updates, and the occasional funny tweet\u2026<\/i><\/b><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"
Crypto whales all across the board have been seemingly taking more conservative positions in stablecoins since the bear market started. This has evolved into larger holdings in dollar-pegged cryptocurrencies which have very low volatility. These digital assets have since become a safe haven for investors who are looking to escape highly volatile tokens but still keep their funds in the crypto market.\u00a0 Crypto Whales Move To Stablecoins Usually, there has been a marked increase in the stablecoin holdings of the top Ethereum whales but this trend of moving into stablecoins seems to not be localized to just Ethereum whales alone. Data shows that the holdings of whales across 5 blockchains are increasingly skewing towards stablecoin holdings. Related Reading: Bitcoin Shakes Off Bears Following CPI Release, But Will This last? The 5 blockchains in this report are Ethereum, Fantom, BNB Chain, Avalanche, and Polygon, and takes a look at the holdings of the top 1,000 whales. The holdings of the largest whales across all of these chains are mostly in the native tokens of the chain, but stablecoins such as USDT and USDC are increasingly important to them. For the top 1,000 ETH whales, USDC and USDT currently account for $842 million (26.9%) and $710 million (22.7%) of their holdings respectively. BNB Chain whales leaned even more heavily with BUSD making up 41.19% ($365 million) and USDT making up 16.22% ($144 million) of their holdings. USDT market dominance at 7.68% | Source: Market Cap USDT Dominance on TradingView.com Fantom (FTM) whales were more into USDC with 30.75% ($12 million) of their holdings in the stablecoin, and 4.67% ($1.8 million) in fUSDT. Avalanche whales hold 74.2% ($265 million) of their holdings in USDT, and 5.68% ($20.3 million) in USDC. Polygon whales allocated the least to stablecoins with only 6.09% ($19.1 million) held in USDC. Time To Flee For Safety? Whale holdings and their investment trends can often sway investor sentiment because it shows what these large holders are thinking about the crypto market. Their recent move to stablecoin holdings shows that they expect the market prices to go much lower in the near future. Related Reading: Why You Should Start Paying Attention To Football Fan Tokens This is not strictly out of line given that indicators show that the crypto market has yet to see its bottom. Previous bear markets have seen the prices of digital assets such as bitcoin and Ethereum falling more than 80% each, putting the market bottom of bitcoin at around $13,000. Given this, and the fact that the market follows the price of bitcoin, if it is not at the bottom, it is a good time to seek safe haven in these digital assets. It helps investors preserve the value of their funds while waiting for better market conditions to start reinvesting. Featured image from Schroders, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet\u2026<\/p>\n","protected":false},"author":541,"featured_media":506613,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[84032,11164,15241,16680,10263,14896,14781],"class_list":["post-506610","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-busd","tag-stablecoin","tag-stablecoins","tag-usdc","tag-usdt","tag-whale","tag-whales"],"acf":[],"yoast_head":"\nWhales Across These Five Chains Are Heavy On Stablecoins, Should You Be Too?<\/title>\n<meta name=\"description\" content=\"Crypto whales all across the board have been seemingly taking more conservative positions in stablecoins since the bear market started. 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This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/uniquehot.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Whales Across These Five Chains Are Heavy On Stablecoins, Should You Be Too?","url":"http:\/\/uniquehot.com\/news\/whales-across-these-five-chains-are-heavy-on-stablecoins-should-you-be-too\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/whales-across-these-five-chains-are-heavy-on-stablecoins-should-you-be-too\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/10\/Stablecoins.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/10\/Stablecoins.jpeg?fit=600%2C400"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["busd","stablecoin","stablecoins","usdc","usdt","whale","whales"],"dateCreated":"2022-10-17T23:00:00Z","datePublished":"2022-10-17T23:00:00Z","dateModified":"2024-06-11T08:01:07Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Whales Across These Five Chains Are Heavy On Stablecoins, Should You Be Too?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/whales-across-these-five-chains-are-heavy-on-stablecoins-should-you-be-too\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/whales-across-these-five-chains-are-heavy-on-stablecoins-should-you-be-too\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2022\\\/10\\\/Stablecoins.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2022\\\/10\\\/Stablecoins.jpeg?fit=600%2C400\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"busd\",\"stablecoin\",\"stablecoins\",\"usdc\",\"usdt\",\"whale\",\"whales\"],\"dateCreated\":\"2022-10-17T23:00:00Z\",\"datePublished\":\"2022-10-17T23:00:00Z\",\"dateModified\":\"2024-06-11T08:01:07Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/10\/Stablecoins.jpeg?fit=600%2C400","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/506610","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=506610"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/506610\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/506613"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=506610"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=506610"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=506610"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}