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

New Wallets Accumulate Ethereum Ecosystem Tokens Amidst ETF Approval

Over the past week, new wallets and first-time accumulators have withdrawn a significant $76.95 million worth of six Ethereum ecosystem tokens from crypto exchanges (CEX). The tokens involved in these substantial withdrawals include Lido DAO (LDO), Ethereum Name Service (ENS), Ethena (ENA), Pepe Coin (PEPE), Uniswap (UNI), and Aave (AAVE).

This surge in activity for Ether tokens coincides with the recent approval of the Spot Ethereum ETF, fostering optimism within the industry. Consequently, it has sparked speculation that the altcoin season may be poised for a resurgence.

Overview of New Wallet Accumulation

Ethena Takes the Lead

Ethena led the charge, experiencing a 31.05% increase over the past 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, netting 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

Pepe Coin witnessed the most significant percentage increase among the tokens, with a 45.5% rise over the past week. Whale wallet "0x837" made headlines by withdrawing 982.6 billion PEPE, worth $13.55 million, from Binance in the past two days. This whale, who likely acquired PEPE at a lower price, contributed to the significant price surge, realizing a profit of $594,000, reflecting a 4.39% gain. However, the PEPE price is currently in the red. At press time, the Pepe Coin price dropped 4.55% to $0.00001376 on Friday, May 24.