Why Ethereum Whales Could Be Diversifying to MATIC, LINK

Nonetheless, while the larger mood seemed to be turning slightly bullish for the top assets, Ethereum whales presented a curious sentiment 

Whales Diversifying

With the ETH price testing the lower $3000 mark ETH whales seemed to exit the shallow waters by diversifying their portfolios. Notably, data from on-chain analytics provider WhaleStats, highlighted that the biggest holders of the second most popular token, Ethereum, have been accumulating altcoins like LINK, MATIC, and FTX token. 

JUST IN: $LINK @chainlink is back on top 10 purchased tokens by 1000 biggest ETH wallets

The top 1000 ETH whales are now hodling $253,192,530 #LINK

Buying the dip is what creates whales

Whale leaderboard: https://t.co/28TDZ70IkD pic.twitter.com/Ov7U4nKVCA

WhaleStats the top 1000 Ethereum richlist (@WhaleStats) January 20, 2022

In fact, the top 1000 ETH whales were now HODLing $253,192,530 worth of LINK. In addition to that, an ETH whale in the early trading hours of January 20 bought 99,999 LINK worth $2,178,000 at that time.

Similarly on January 19, an ETH whale bought 65,430 FTX token  worth $2,998,664 at that time and another ETH whale bought 1,409,169 MATIC worth $2,931,071.

So, Whats Next for Ethereum?

Ethereums more or less consolidating trajectory over the last few weeks has been a concern for investors and HODLers. Further, ETHs short-term (weekly and monthly) and mid-short-term (quarterly) ROIs vs USD were noting negative values at press time as Ethereum was down 32.97% from its all-time high.