Shiba Inu (SHIB), which was launched as the Dogecoin killer and appeared as a Nir Meme coin project, had made its early investors millionaires with its huge growth for a while. Nowadays, SHIB developers seem to give more importance to developments by turning the bear market into an opportunity. However, its investors, SHIB whales, have recently started accumulating these 10 altcoin projects. Here are the 5 altcoins that SHIB whales have accumulated…
The first altcoin on the list of cryptocurrencies flocked by SHIB whales: Ethereum (ETH)
Ethereum was started in 2013 by crypto researcher Vitalik Buterin and his friends. However, the project came to life in 2015. Currently, it is the leading altcoin by market cap. Also, Ethereum uses open source code like Bitcoin, and transactions are recorded on the blockchain, just like Bitcoin. In other words, everyone can see the codes and everyone can review all the transactions.
Tether is a Blockchain-based cryptocurrency backed by fiat currencies like the US dollar. In addition, all tokens within this Blockchain have a backup in the bank account of Tether Limited. Tether (USDT) is a type of cryptocurrency known as a stablecoin. These types of altcoins are usually pegged to a fiat currency such as the dollar, lira or euro. However, projects have developed various methods to maintain this constancy and stability.
The third altcoin on the list of SHIB whales: Huobi Token (HT)
Huobi Token (HT) is the native cryptocurrency of the Huobi Global exchange. The exchange was established in 2013 in China. However, it later moved its operations to Seychelles for more crypto and finance regulation. It allows users to invest in projects through trading and Initial Coin Offerings (ICOs). It has become a popular option among those looking to enter the new crypto world. Huobi followed the lead of Binance by launching the exchange token in 2018 that facilitated special event access.
Gate Token (GT)
GateToken, the native cryptocurrency of the Gate.io exchange, is built on the GateChain blockchain. However, GT maintains the continuity of the ecosystem with various use cases in Gatechain and thus Gate.io. Gatechain is a public blockchain and product ecosystem. There are several new products on the network such as new on-chain security account and customizable recovery feature. Additionally, GateChain provides asset issuance and enterprise subscription service. Users of the network can transfer their assets between multiple Blockchains and make payments. In addition, the network uses the Delegated Proof-of-Stake (PoS) consensus mechanism. Thus, users can earn staking rewards.
Fifth altcoin on the list of SHIB whales: Huobi BTC (HBTC)
Huobi BTC (HBTC) is the token of the Huobi Global cryptocurrency exchange. Huobi Token, abbreviated as HBTC, is a decentralized digital asset developed on the Ethereum blockchain and operating under the ERC-20 standard. Huobi Exchange was established in 2013, while HBTC Token was launched in January 2018. HBTC token holders receive discounted transaction fees for their transactions on the Huobi Global exchange.
Polygon, formerly known as the MATIC network, is a cross-chain scalability solution that provides an infrastructure for building blockchain networks that can interface with each other. It aims to bring the adaptability and scalability of sub-chains along with the security, liquidity and interoperability of Ethereum. Ethereum (ETH) remains the most effectively used blockchain globally. This open-source, decentralized blockchain quickly became popular after its launch in 2013. It offers smart contracts as a POS (Proof-of-Stake) framework.
Altcoin at the end of the list of SHIB whales: Chainlink (LINK)
Chainlink, as we have also announced as Kriptokoin.com, allows smart contracts to be connected to external data sources. It is also called a blockchain-based decentralized oracle network. These can include internal systems and external data sources, APIs. LINK is an ERC-20 token used to pay for oracle services on this network. Also, LINK’s max supply is 1,000,000,000 tokens. Unlike many other crypto assets, LINK does not have mining or staking processes that increase the circulating supply.