Ether Tokens: New Wallets Grab $77M Of Pepe Coin, Uniswap, Ethena & Others

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As an analyst with extensive experience in the crypto market, I find this recent surge in withdrawals of Ethereum ecosystem tokens worth examining. The fact that new wallets have accumulated over $76 million worth of LDO, ENS, ENA, PEPE, UNI, and Aave tokens within a week is a noteworthy trend.

Over the past week, approximately $76.95 million in value of six distinct Ethereum ecosystem tokens have been withdrawn from crypto exchanges by new wallets and first-time holders. These tokens are Lido DAO (LDO), Ethereum Name Service (ENS), Ethena (ENA), Pepe Coin (PEPE), Uniswap (UNI), and Aave (AAVE). In simpler terms, a significant amount of money has been taken out of these six Ethereum tokens from exchanges by new investors.

Amidst heightened optimism following the recent approval of the Spot Ethereum ETF, there’s been a significant increase in activity for Ether tokens. This surge has fueled speculation that the altcoin market may be making a resurgence. Here’s a summary of the latest accumulation observed in new cryptocurrency wallets:

Ethena Takes The Lead

Ethena led the charge, with a 31.05% increase over the last seven days. Three new multisignature wallets withdrew 54.31 million ENA, valued at $45.61 million. Notable transactions included one from wallet “0xe68,” which withdrew 34.65 million ENA and netted a profit of $3.2 million within a week. Additionally, wallets “0xc7e” and “0x8be” jointly withdrew 19.66 million ENA, generating $657,000 in just 24 hours.

Pepe Coin Soars 45% In A Week

Over the last week, Pepe Coin experienced the greatest percentage gain among tokens, recording a 45.5% surge. Notably, the prominent whale wallet labeled “0x837” drew attention by transferring out approximately 982.6 billion PEPE tokens, equivalent to around $13.55 million, from Binance within the past two days.

A whale, presumably having bought PEPE at a lower cost, played a role in the substantial price increase, resulting in a profitable gain of $594,000 or a 4.39% return. However, it’s important to note that as of press time on May 24, the PEPE coin value has decreased by 4.55%, now standing at $0.00001376.

Ethereum-Based Lido DAO Gains Momentum

As a crypto investor, I’ve noticed an intriguing development with Lido DAO over the past week. Based on data from Spot On Chain, there was a notable surge of 37.6% in Lido DAO’s value. Moreover, six newly identified wallets and significant investors (referred to as “whales”) withdrew an impressive amount of 4.3 million LDO tokens, equivalent to approximately $9.59 million, from Binance within the last day. This activity underscores a heightened interest in Lido DAO among investors, as they transfer their holdings into private wallets for secure storage and potential future use.

Aave & Uniswap Follow Suit

Additionally, Aave and Uniswap exhibited significant growth over the past week. The value of Aave cryptocurrency surged by 16.5%, resulting in two large investors, “0x201” and “0xcd0,” withdrawing a combined total of $4.06 million worth of AAVE tokens (39,762 units) from Binance just a few hours ago. Simultaneously, Uniswap experienced an impressive 28.5% rise, with the whale wallet “0xbbd” withdrawing $2.08 million worth of UNI tokens (214,465 units) at a price of around $9.69 per token approximately six hours prior.

Ethereum Name Service Mirrors Sentiment

ENS recorded the highest weekly percentage increase at 72.3%. Whale wallet “0x43c” withdrew 82,041 ENS, valued at $2.06 million, from Binance at $25.13 per token around seven hours ago, marking a significant transaction for the week.

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2024-05-24 15:18