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.
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Featured Image: Shutterstock/Kate_Snowstorm
