According to Nansen data, the most preferred tokens by large investors, considered smart money, in the last 24 hours include stETH, WBTC, cbETH, sDAI, aEthWETH, aEthWBTC, ezETH, FXS, TON coin and LINK.
TON coin and these cryptos are most preferred
Nansen data provides important insight into which tokens the smart money is interested in. This information can help investors make informed investment decisions. Accordingly, the altcoin projects that saw the most entries in the last 24 hours are as follows:
- stETH: Ethereum (ETH), tokenized by Lido Finance, is the most preferred token with a flow of $5,275,127 in the last 24 hours. This shows investors’ long-term faith in Ethereum and their interest in staking.
- WBTC: Wrapped Bitcoin (WBTC), a token that brings Bitcoin to the Ethereum blockchain, trails stETH with an inflow of $5,148,740. This could be an indication of investor interest in Bitcoin and desire for integration into DeFi.
- cbETH: cbETH, an ETH staking token offered by Coinbase, ranks third with a flow of $2,956,142. This shows investors’ confidence in Coinbase’s reliability and staking services.
- sDAI: sDAI, a DAI stablecoin token developed by Set Labs, ranks fourth with a flow of $2,841,345. This shows investors’ confidence in DAI and the growing demand for stablecoins in DeFi.
- aEthWETH: aEthWETH, an ETH token that can be used as collateral in Aave v3, ranks fifth with a flow of $1,725,569. This shows investors’ interest in Aave v3 and their desire to use ETH as collateral.
- aEthWBTC: aEthWBTC, a WBTC token that can be used as collateral in Aave v3, ranks sixth with a flow of $1,180,131.
- ezETH: ezETH, an ETH staking token developed by Eden Network, ranks seventh with a flow of $373,626. This shows investors’ interest in Eden Network and their interest in staking.
- FXS: FXS, an algorithmic stablecoin token developed by Frax Finance, ranks eighth with a flow of $225,355. This is a sign of investor interest in algorithmic stablecoins.
- TONCOIN: TONCOIN, the native token of the TON Blockchain, ranks ninth with a flow of $196,092. This shows investors’ interest in TON Blockchain.
- LINK: LINK, the native token of the Chainlink oracle network, ranks tenth with a flow of $154,118. This shows investors’ need for oracle services.
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