New stats show the richest Ethereum (ETH) whales on record are focusing their attention on a play-to-earn gaming project that’s surged in value this month.
The latest numbers from WhaleStats are revealing the current spending habits of the 1,000 largest non-exchange Ethereum addresses.
Those wallets are showing positive inflows of the stablecoin Tether (USDT), followed by leading smart contract platform Ethereum (ETH) itself.
After that, WhaleStats is reporting large inflows for Gala (GALA), an Ethereum-based play-to-earn altcoin that has surged in value after a recent listing on Coinbase.
The largest single transaction of GALA was a purchase of 9,999,911 GALA worth about $4 million by a whale known as “Light.”
In the last 24-hours, data from WhaleStats shows the average purchase amount of Tether was $121,862, the average purchase amount of ETH was $54,745 and the average whale purchase of GALA was worth $47,886.
The whales also made smaller purchases of Wrapped Bitcoin (WBTC), which is pegged to the price of BTC, as well as virtual reality platform Decentraland (MANA) and the memecoin Dogelon Mars (ELON).
Gala is a relative newcomer to the crypto space, having launched late last year.
The team at Gala Games is aiming to build an ecosystem of blockchain-based play-to-earn games. To date, five games are in development, with the game Town Star now playable in beta form.
Check Price ActionDon’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inboxFollow us on Twitter, Facebook and TelegramSurf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Alberto Andrei Rosu/creativeneko
Follow: Grapeswap – The Complete DeFi Multichain Ecosystem