Why Are ETH Whales More Interested in SHIB Than MATIC?


 "Everyone's taste is different, maybe ETH whales see this crypto as having more potential."

The biggest cryptocurrency investors, Ethereum (ETH) whales are reportedly showing more interest in Shiba Inu (SHIB) than Polygon (MATIC) as a large amount of the memecoin has been bought by them.

Earlier today, the top 1,000 ETH whales were holding $619 million of SHIB while MATIC was lower at $170 million even though last month the whales massively bought MATIC.

It is well known that ETH whales bought $2 million worth of MATIC on February 8 and the following day transferred 38 million digital assets worth $50 million from an unknown wallet to an anonymous wallet.

Although ETH's top whales hold $619 million worth of SHIB as an alternative asset, they also invest $1.06 billion in USDC and $808 million in USDT.

However, SHIB is now down almost 5.73% at $0.00001134 in the last 24 hours with a trading volume of $294 million even though ETH whales are increasingly interested in the memecoin, but it still sees a 40% increase since the beginning of the year.

While MATIC is also down around 59% from its all-time high of $2.92 despite seeing upward momentum at the beginning of the year and signing deals with several major technology companies.

As of this writing, MATIC price has slipped by 4.66% at $1.17 in the last 24 hours with a market cap of $10 billion.