$SHIB and $MATIC Whale Begins Accumulating AI and Gaming-Related Altcoins, Data Shows.

An Ethereum ($ETH) whale with approximately $138 million in total assets has been accumulating AI and gaming-related altcoins for the last few months. The whale's primary holdings are in $ETH, worth $23 million, followed by $21.7 million worth of Polygon ($MATIC) and $11.3 million worth of Tether's $USDT. In addition, the whale owns $10.3 million worth of Shiba Inu ($SHIB) and $7.3 million worth of ApeCoin ($APE). The whale has been notably accumulating gaming and AI-related altcoins recently, while also adding to its $MATIC position.

The whale has been acquiring Gala Games' Ethereum-based token, $GALA, which powers the Gala Games blockchain gaming platform. In the past week, it has added nearly 14 million $GALA worth over $570,000 to its holdings. The whale has also accumulated Fetch.ai's ($FET) token, an AI and machine learning platform that allows anyone to build and deploy AI at scale from anywhere. It added 1.5 million $FET worth about $570,000 to its wallet over the past week.

The whale's actions coincide with a growing AI narrative in the markets, as a little-known cryptocurrency has seen its price surge over 1,000% over the past month amid a trend of tech giants investing in artificial general intelligence (AGI) projects. Microsoft, for instance, invested up to $10 billion on OpenAI, the maker of ChatGPT, which it integrated into its search engine Bing. Meanwhile, Google announced the launch of a ChatGPT competitor called Bard.