Recent data has unveiled the top 50 tokens most commonly held in iCrypto Whale portfolios on Ethereum each month, offering insight into which categories dominate their allocations.
Analyzing these trends reveals how the investment focus of large crypto holders has shifted over time.
In the early months of the year, stablecoins such as $USDT, $USDC, and $DAI dominated whale portfolios. During Q1 and the beginning of Q2, stablecoins were heavily favored as a safe harbor, but their dominance declined as the market started to bottom out and altcoins began to recover.
From Q2 onwards, marketplace tokens ($OKB, $FTT, $KCS) and decentralized finance (DeFi) tokens ($DAI, $AAVE, $LDO, $ENA) saw a significant rise in whale portfolios. These categories emerged strongly as whales adjusted their strategies to capitalize on the growing opportunities in DeFi and digital marketplaces.
Other categories, such as governance tokens, zero-knowledge proofs (ZKPs), decentralized autonomous organizations (DAOs), and real-world assets (RWAs), remained relatively stable with no significant shifts in allocation, continuing to hold a considerable portion of whale portfolios.
🚨Categories in Whale Portfolio
We tracked 50 most-held tokens in iCrypto Whale portfolio each month (on Ethereum). The purpose is to find which categories dominated in their monthly allocation.
Here are some takes:
– Stables ($USDT, $USDC, $DAI) were gradually dominating… pic.twitter.com/97YgeNiuia
— iCrypto | Sentiment & On-chain Analysis (@iCryptoAI) October 4, 2024
Whales Might Have Shifted Their Focus To Other Market SectorsÂ
Layer 2 solutions ($MATIC, $STRK) and platform tokens ($CYBER, $LINK, $QNT) were more prominent in the first half of the year but eventually faded from focus, suggesting that whales shifted their attention elsewhere as the market evolved.
Interestingly, meme tokens, often popular with retail investors, hold little appeal for whales. While $PEPE and $MOG are notable exceptions, they remain far less represented in whale portfolios compared to other categories.
Overall, the data highlights how whale investment strategies evolve over time, with stablecoins giving way to altcoins and DeFi as market conditions shift.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!
Image Source: kinomasterskaya/123RF // Image Effects by Colorcinch
