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Highlights
- Ethereum network tokens like Pepe Coin, Ethena, and Lido DAO surged significantly this week.
- The rally preceded the historic approval of Spot Ethereum ETFs.
- Amid the growing optimism, new whales entered the market and snapped up $77 million worth of PEPE, UNI, ENS and other Ether tokens.
New wallets and first-time accumulators have withdrawn a staggering $76.95 million worth of six Ethereum ecosystem tokens from crypto exchanges (CEX) over the past week. The Ether tokens involved in these massive 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 comes amid optimism after the recent Spot Ethereum ETF approval. Hence, it sparks speculation that the altcoin season might be making a comeback. Thus, here’s an overview of the latest accumulation made by new 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
Pepe Coin witnessed the most substantial 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.
Also Read: PEPE Price Rally: Smart Trader Nabs 1200% Profit Trading Pepe Coin
Ethereum-Based Lido DAO Gains Momentum
Lido DAO saw a 37.6% increase in value over the past week. According to Spot On Chain insights, six new wallets and whales withdrew 4.3 million LDO, equivalent to $9.59 million, from Binance within the last 24 hours. This activity highlights a growing interest in LDO as investors move their holdings to private wallets.
Aave & Uniswap Follow Suit
Moreover, Aave and Uniswap also experienced notable activity. Over the week, the Aave crypto rose by 16.5% over the week, with two whales, “0x201” and “0xcd0,” withdrawing 39,762 AAVE, valued at $4.06 million, from Binance approximately seven hours ago. Meanwhile, Uniswap saw a 28.5% increase, with whale wallet “0xbbd” withdrawing 214,465 UNI, worth $2.08 million, at a price of $9.69 per token, about six hours ago.
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.
Also Read: Ethereum Altcoins Rallying Today Analysed
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