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Tomiwabold Olajide

Large investor buys 29,000 FTX tokens as FTT flips SHIB to claim biggest token position

Data provided by WhaleStats shows that a large investor just bought 29,000 FTX tokens. FTX has also flipped Shiba Inu to rank the biggest token position in USD among ETH whales. Bitcoin and the majority of altcoin tokens are losing value, as seen on CoinMarketCap.

The whales’ surveillance platform reports that the Ethereum whale ranked 506th acquired 29,790 FTX tokens, or $1,361,999 worth.

Analysis by WhaleStats also shows that FTX has flipped Shiba Inu to rank the biggest token position in USD. Before this, SHIB has always held the much-coveted spot, ranking the largest token position in USD held by the top 1,000 ETH wallets.

Source: WhaleStats

The data indicates that the top 1,000 Ethereum wallets now hold $1,846,360,396 worth of FTX tokens, which represents 16.16% of the total holdings of all tokens except ETH. Shiba Inu currently accounts for 13.64% of total holdings as Ethereum whales hold $1,557,844,411.

FTX price action

FTT is the native crypto asset of crypto derivatives trading platform FTX. FTT’s circulating supply is 138,569,138 and ranks 29th largest cryptocurrency by market cap, according to CoinMarketCap data.

FTT/USD Daily Chart, Source: TradingView

FTX’s token (FTT) resuscitated a positive move from the $33.80 level on Jan. 8. The bulls pushed the price above the MA 50 barrier at $41.77, signaling a possible change in trend. The recent rally, which marked highs at $47.55 on Jan. 15, encouraged investors to become active again.

If bulls maintain the price above $45, FTX might begin its march toward the psychological resistance at $50. Contrary to this assumption, if the price turns down from the current level and breaks below the MA 50, this might pull the price down to $36.

FTX trades at $45.74 at press time.

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