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One of Ethereum’s Biggest Competitors Is Being Accumulated Quietly by Ethereum Whales

According to new on-chain data, some of the top Ethereum whales are investing in one of ETH’s main competitors.

The top 100 largest Ethereum wallets are making significant investments in Wrapped Luna, according to the latest weekly figures from WhaleStats (WLUNA).

Wrapped Luna is linked to Ethereum rival Terra and may be swapped for it (LUNA).

The coin essentially allows Ethereum investors to acquire exposure to LUNA while also allowing LUNA holders to engage in Ethereum’s decentralized finance (DeFi) apps.

Wrapped Luna (LUNA) has joined the top ten most-purchased cryptocurrencies among Ethereum whales, currently ranking ninth at the time of publication.

The average whale buy of the altcoin in the previous week was roughly 900 LUNA, which was valued about $76,300 at the time of publication.

The price of LUNA/WLUNA has risen by 76% in the last month, to $90.29 at the time of writing.

According to the most recent data from WhaleStats, ETH whales continue to trade stablecoins in large amounts, with Wrapped Bitcoin (WBTC) and Chainlink (LINK) seeing good inflows as well.

Source : WhaleStats

Although another ETH competitor, the ERC20 version of Ethereum competitor Fantom (FTM), is in the top ten list of most-purchased altcoins, the figures show that whales sold more FTM than they bought in the last week.
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