COIN - Millionaires Are Scooping Up These Two Surprising Cryptos. Should You?
In the crypto world, one way to stay ahead of major market moves is by tracking the activity of the biggest market participants. These large market participants are known as "whales," and they have the ability to move the market both upward and downward. Thanks to the transparency that blockchains provide, it's possible to track the moves of crypto whales in real time using readily available online tools.
Based on a recent on-chain analysis, crypto whales appear to have major positions in both Uniswap (CRYPTO: UNI) and meme coin Shiba Inu (CRYPTO: SHIB) . Both of these are top-20 cryptos by market capitalization but may not be household names for all investors. Let's take a closer look at why crypto whales might be holding them and whether they might be right for you.
In the wake of the recent market meltdown, there has been significant discussion about the relative merits of centralized cryptocurrency exchanges vs. decentralized cryptocurrency exchanges. Centralized exchanges include FTX (CRYPTO: FTT) , Coinbase (NASDAQ: COIN) , and Binance (CRYPTO: BNB) . Decentralized exchanges include Uniswap, which is generally regarded to be the largest, safest, and most liquid. In one recent 30-day period, Uniswap accounted for approximately two-thirds of all trading on decentralized exchanges.
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Millionaires Are Scooping Up These Two Surprising Cryptos. Should You?