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

• Whales are in the accumulation mood recently, with ERC-20 tokens becoming a hot favorite.
• Whales accumulated over $9 million worth of ERC-20 tokens.
• Pepe and LINK saw a more positive price trend than UNI.

Whales are accumulating ERC-20 tokens, with Pepe and LINK showing a more positive price trend than UNI. This could signal a bullish trend for Ethereum.

Whales Accumulate $9 Million Worth of ERC-20 Tokens

Recent data shows that whales have been accumulating ERC-20 tokens, with Pepe [PEPE], Uniswap [UNI], and Chainlink [LINK] witnessing significant whale accumulations. While UNI showed a distinct price trend, PEPE and LINK displayed similar price movements. This ongoing accumulation and price trends are considered a bullish signal, which could impact the Ethereum [ETH] network.

Significant Accumulation Activities

According to data from Lookonchain, whales engaged in significant accumulation activities on the 4th of May, acquiring millions of dollars worth of various ERC-20 tokens. One notable transaction involved a whale withdrawing 322.48 billion Pepe tokens from the Binance exchange, valued at approximately $2.78 million. Another whale withdrew 500,000 UNI tokens worth about $3.75 million and 183,799 LINK tokens worth roughly $2.62 million from the Binance [BNB] exchange.

Pepe and Chainlink See Uptrends

AMBCrypto’s analysis of Pepe’s price movement on a daily timeframe chart revealed consecutive uptrends from the 1st to the 4th of May. On the 4th of May, its value surged by 7.30%. Notably, its price trend was now positioned above its short moving average (yellow line), which had transitioned to provide support, indicating a positive price trend. However, Pepe was experiencing a decline of over 1% in its trading value at the time of writing.