Nansen, a prominent on-chain data tracking platform, has revealed the latest trends in cryptocurrency investments amidst the recent volatile market conditions. While Bitcoin experienced a sharp correction, failing to hold its gains above $69,000 and sliding down to $59,000, altcoins witnessed a bloodbath as well. During this period, 296,029 investors faced liquidation, resulting in $1 billion of leveraged positions being liquidated.
Despite the turmoil, Nansen’s data indicates that whales, or large investors, were actively purchasing Ethereum (ETH)-based altcoins. Among the most sought-after cryptocurrencies were stETH, Ethereum Name Service (ENS), and WETH. These altcoins topped the list of purchases made by whales in the last 24 hours. Notably, stETH experienced the highest influx of $34.8 million, followed by ENS with $6.3 million and WETH with $3.6 million. Additionally, significant purchases of LINK were also observed, amounting to $660 thousand.
It is important to note that this information provided by Nansen is for informational purposes only and should not be taken as investment advice.