Massive $SHIB and $MATIC Whale Starts Accumulating AI and Gaming-Related Altcoins, Data Shows

A massive whale on the Ethereum ($ETH) network that currently holds around $138 million in total assets, has been accumulating AI and gaming-related altcoins over the last few months, likely as it’s predicting the narrative for the next few months.

According to data from the Ethereum blockchain, the whale’s largest holdings are in $ETH itself, the network’s native token, worth $23 million worth of it in its wallet. Next, the whale holds $21.7 million worth of Polygon ($MATIC), and $11.3 million worth of Tether’s $USDT.

Next, it holds around $10.3 million worth of the meme-inspired cryptocurrency Shiba Inu ($SHIB) and $7.3 million worth of ApeCoin ($APE). As Daily Hodl reports, the whale has been notably accumulating gaming and AI-related altcoins over the past few days, while also adding to its $MATIC position.

Blockchain data shows it added nearly 14 million $GALA worth over $570,000 to its holdings over the past week, According to Coinbase, GALA is an Ethereum-based token that powers Gala Games, a blockchain gaming platform, with $GALA being used on it as a utility token.

The whale has also accumulated Fetch.ai’s ($FET), a decentralized AI and machine learning platform that allows anyone to build and deploy AI at scale, from anywhere. It aims to model the real world with autonomous software agents conducting economic activities. Users can use Fetch.ai to distribute data or services and get paid in digital currency, according to the exchange’s pages.

Data shows the whale added 1.5 million $FET worth around $570,000 to its wallet over the past week. The cryptocurrency’s price has been surging amid a growing AI narrative on the markets that follows the launch of ChatGPT.

As CryptoGlobe reported, a little-known cryptocurrency that had just slightly over 300 active daily addresses at the beginning of the month has seen its price surge over 1,000% over the past month as artificial intelligence is seemingly becoming the new narrative on the market.

The cryptocurrency’s price explosion comes at a time in which tech giants have been pouring funds into artificial general intelligence (AGI) projects, with Microsoft investing as much as $10 billion on ChatGPT-maker OpenAI and integrating it into its search engine Bing, and Google announcing the launch of a ChatGPT competitor called Bard.

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