Fresh data shows the world’s biggest Ethereum (ETH) whales are stocking up on an altcoin that powers a data feed service for the decentralized finance industry.
According to data from WhaleStats, the 1,000 largest ETH wallets hold $2.35 billion worth of SHIB combined, representing around 9% of the total market cap.
Ethereum whales have been on a buying spree since November 2020, currently holding 68.7% of the total supply, while Grayscale has doubled their ETH stack.