Ethereum Whales Back Three Metaverse Projects and Two Ethereum Altcoins, On-chain Analysis Shows

The world’s largest Ethereum (ETH) whale is in charge of three metaverses as crypto markets show signs of improvement.

Outside of stablecoins and ETH, blockchain gaming platform Play-to-Earn Gala (GALA) was the top target for the top 100 Ethereum wallets on Sunday, according to blockchain tracker WhaleStats.

The top 100 ETH addresses bought an average of $3,287 in GALA tokens over a 24 hour period over the weekend.

The top 100 ETH whales also targeted Smooth Love Potion (SLP), a token used in the Axie Infinity (AXS) ecosystem to earn rewards and buy creatures in the online fighting game. Whales bought an average of $1,879 from SLP.

Additionally, for an average value of $130, the whales also purchased the original token for the metaverse play-to-win game The Sandbox (SAND). Sandbox recently rallied around news of its listing by US-based crypto exchange giant Coinbase.

The top 100 Ethereum wallets bought an average of $645 of the native token of Compound (COMP), a decentralized financing platform for borrowing and lending crypto assets, and $107 of CHSB, the native token of SwissBorg, a cryptocurrency wealth management platform.

Source: WhaleStats

The total market capitalization of the cryptocurrency has increased by more than 7% in the past 24 hours.

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Featured image: Shutterstock / Natalia Siiatovskaia / Mia Stendal

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