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Terra (LUNA) is ranked seventh in the ranking of the largest digital currencies. The token is getting cheaper along with the rest of the altcoins, its price fell by 2.8% to $81.7 per day.
The WhaleStats team, which monitors the behavior of Ethereum whales, drew attention to the increased interest of the largest addresses in the Terra coin. It is popular among the 5,000 whale wallets deployed on Ethereum.
Recently, one of them invested almost $6.6 million in LUNA. In addition to this cryptocurrency, whales are buying up SHIBA and FTT tokens.
The researchers also found that the largest ETH addresses are accumulating Tether (USDT) and USD Coin (USDC) stablecoins. One of these wallets holds SHIBA and FTT, totaling up to $1.44 million and $1.47 million, respectively.
The Santiment team also recorded a sharp increase in whale interest in stablecoins.
The analyst report says that addresses holding USDT worth between $10,000 and $10 million purchased $1.06 billion worth of tokens over the past month, representing 2.7% of Tether’s total supply.
The increase in interest in stablecoins may signal an imminent resumption of growth in Bitcoin and other cryptocurrencies, as investors usually buy BTC using fiat-backed tokens.
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