Major Whale Investment Boosts Ethereum (ETH): Spotlight on PEPE, LINK, UNI Cryptocurrencies

Whales Accumulate ERC-20 Tokens, Signaling Bullish Trend for Ethereum

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Whales, large investors with significant influence in the cryptocurrency market, have recently exhibited a strong appetite for ERC-20 tokens. Data reveals that whales have accumulated over $9 million worth of these tokens, with Pepe [PEPE], Uniswap [UNI], and Chainlink [LINK] being among the most popular choices.

Pepe and LINK Display Positive Price Trends

While UNI's price trend has diverged from the others, PEPE and LINK have demonstrated similar positive movements. This accumulation and price action is widely interpreted as a bullish signal for the Ethereum [ETH] network.

Significant Accumulation Activities

On May 4th, whales engaged in substantial accumulation activities, acquiring millions of dollars worth of ERC-20 tokens. A whale withdrew 322.48 billion Pepe tokens from Binance, valued at approximately $2.78 million. Another whale withdrew 500,000 UNI tokens worth $3.75 million and 183,799 LINK tokens worth $2.62 million from the Binance [BNB] exchange.

Pepe and Chainlink See Uptrends

Analysis of Pepe's price movement on a daily timeframe chart indicates consecutive uptrends from May 1st to May 4th. On May 4th, its value surged by 7.30%. Notably, its price trend is now positioned above its short moving average (yellow line), which has transitioned to provide support. However, Pepe is currently experiencing a slight decline in its trading value.