Recent data reveals the top 50 most commonly held tokens in the iCrypto Whale portfolio on Ethereum each month, providing insight into which categories dominate allocation.
Analyzing these trends reveals how the investment focus of large crypto holders has changed over time.
For the first few months of this year, stablecoins like $USDT, $USDC, and $DAI dominated whale portfolios. During Q1 and early Q2, stablecoins were highly favored as a safe harbor, but their dominance waned as the market began to bottom out and altcoins began to recover. .
Since Q2, the whale portfolio of marketplace tokens ($OKB, $FTT, $KCS) and decentralized finance (DeFi) tokens ($DAI, $AAVE, $LDO, $ENA) has increased significantly. These categories have emerged strongly as whales adjust their strategies to take advantage of expanding opportunities in DeFi and digital markets.
Other categories such as governance tokens, zero-knowledge proofs (ZKPs), decentralized autonomous organizations (DAOs), and real-world assets (RWAs) have remained relatively stable without significant changes in allocation, accounting for a significant portion of whales. continues to hold. portfolio.
🚨Whale Portfolio Categories
We tracked the 50 most-held tokens in the iCrypto Whale portfolio each month (on Ethereum). The objective is to find out which categories dominate the monthly allocations.
Here are some takes:
– Stables ($USDT, $USDC, $DAI) Gradually became dominant… pic.twitter.com/97YgeNiuia
— iCrypto | Sentiment and on-chain analysis (@iCryptoAI) October 4, 2024
Whales may have shifted focus to other market areas
Layer 2 solutions ($MATIC, $STRK) and platform tokens ($CYBER, $LINK, $QNT) were more prominent earlier this year, but eventually faded from focus and became whales as the market evolved. suggests that their interests have shifted elsewhere. .
Interestingly, meme tokens that are popular with retail investors have little appeal to whales. $PEPE and $MOG are notable exceptions, but they remain a much smaller part of whale portfolios than other categories.
Overall, the data highlights how whales’ investment strategies evolve over time, with stablecoins giving way to altcoins and DeFi as market conditions change.
Disclosure: This is not trading or investment advice. Always do your research before purchasing any cryptocurrency or investing in any service.
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Image source: kinomasterskaya/123RF // Image effect by Colorcinch
