Very wealthy non-exchange Ethereum (ETH) wallets have been hoarding cryptocurrencies as the market moves cautiously into positive territory.
A cryptocurrency wallet named Bonobo recently raised more than $14 million in funding, according to data aggregator WhaleStats.
Whale initially spent over $1.1 million to acquire 1,199,999 tokens for Layer 2 scaling solution Polygon (MATIC).
Bonobo quickly returned, swallowing another 2,049,996 MATIC at a cost of $1.9 million.
Next on the shopping list was the Bored Ape Yacht Club (BAYC) affiliated digital asset ApeCoin (APE), with Bonobo ripping off $1.3 million to acquire 199,999 APE tokens.
The data processing site also reports that Bonobo is greedily using FTX Tokens (FTT), the native asset of the FTX cryptocurrency exchange.
Whales made a massive $6.3 million payment for 203,786 FTT a few days ago, and yesterday they paid even more, buying an additional 80,000 tokens at a $2.4 million price tag.
The final dish in the wealthy investor’s crypto feast was the virtual world metaverse game The Sandbox (SAND), where whales hid 1,650,016 SAND tokens at a cost of $2.2 million.
Bonobo currently ranks fourth among the wealthiest Ethereum whales, with a total wallet value of over $850 million.
Whale holdings have fluctuated wildly over the past month, with a low of $456 million on July 12 and a high of $961 million on July 21, before falling to 2 in the next five days. We unloaded $35 million worth of assets.
Well-funded traders have maintained balances above $800 million since July 28.
Don’t Miss a Beat – Subscribe to get encrypted email alerts delivered straight to your inbox
Price action confirmation
Please follow us twitterfacebook, telegram
Surf The Daily Hodl Mix
 

Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should exercise caution before making risky investments in Bitcoin, cryptocurrencies or digital assets. Please note that your money transfers and transactions are made at your own risk and you are responsible for any losses you may incur. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Kate_Snowstorm