Shiba Inu and FTT token clash for first place among whale-tier wallet holdings
Shiba Inu loses first place as the biggest holding among whale-tier accounts as FTX token reaches first place on WhaleStats tracker with $1.63 billion worth of holdings on the 1,000 largest Ethereum wallets.
SHIB’s run to $1.6 billion
U.Today previously covered that the meme-based cryptocurrency reached the $1.6 billion capitalization mark in the largest Ethereum wallets, adding almost $200 million in less than 24 hours.
The strong spike in the value of holdings is based on the buying power that appeared yesterday on the market after Shiba Inu jumped almost 20% in price following the overall cryptocurrency market recovery.
After a rapid price increase, SHIB has formed a $130 million margin against second place on the whale holdings list. Additionally, each market metric of Shiba Inu was shining green after the short-term rally of the asset.
FTT’s jump to first place
With an almost $200 million margin against Shiba Inu, FTT was less likely to overthrow the meme token in less than 24 hours and take first place, but due to the strong price action on the market and the sudden appearance of incoming buying power from whales, the token was able to take first place once again.
According to data from TradingView, FTX token received a slight volume increase since Jan. 4 after the altcoin market recovery began. In addition to that, FTT has shown a 20% price increase in the last six days, replicating Shib’s performance.
At press time, FTT trades at $41 with 2.5% daily growth, while its market competitor, Shiba Inu, shows 6% daily growth, trading at $0.000031.