Bittime -The crypto world is once again enlivened by the movement of "whales" (large investors) who are paying attention to certain digital assets. This time, the digital assets Pepe (PEPE), Uniswap (UNI), and Chainlink (LINK) are the main focus in this interesting accumulation trend.
Even though UNI shows quite unique price movement patterns, the accumulation trends and price movements of PEPE and LINK are similar. A noteworthy similarity is that all three assets are ERC-20 tokens built on the Ethereum (ETH) network.
This massive accumulation and positive price trend is interpreted as a bullish signal, potentially impacting the Ethereum network as a whole.
Whales Target PEPE, LINK, and UNI
According to data from Lookonchain, whales carried out significant accumulation activity on May 4, pouring millions of dollars to buy various ERC-20 tokens. One transaction that attracted attention was the whale's withdrawal of 322.48 billion PEPE tokens from the Binance exchange, which was worth around US$2.78 million.
Apart from that, it was also observed that 500,000 UNI tokens worth US$3.75 million and 183,799 LINK tokens worth US$2.62 million were withdrawn from the Binance (BNB) exchange by other whales.
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PEPE and Chainlink Uptrend
AMBCrypto analysis of PEPE price movements on the daily chart shows a consecutive upward trend from May 1 to 4. In fact, on May 4, the value jumped up to 7.30%.
What is worth noting, the price trend is now above the short-term moving average (yellow line), which now functions as support, indicating a positive price trend.
However, at the time this article was written, PEPE was experiencing a decline of more than 1% in its trading value.
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AMBCrypto analysis also found that Chainlink has also shown a consecutive upward trend since May 1. The price jumped from around US$13 to over US$14, and closed at around US$14.3 on May 4, indicating a price increase of more than 1%.
Despite this, Chainlink's overall trend is still not as positive as PEPE, with the price trading below both short-term and long-term averages (yellow and blue lines).
At the time of writing, Chainlink is trading at around US$14.2, representing a decline of less than 1%.
Potential Impact of Whale Movements on Ethereum
The accumulation of PEPE, Chainlink, and Uniswap is a positive signal for this Ethereum-based asset. This shows that there is anticipation of further price increases, which is essentially bullish.
If the price of these tokens eventually soars, sales by accumulating whales could trigger further accumulation by other traders.
The resulting increase in trading volume could have a significant impact on the overall trading volume of the Ethereum network. Additionally, increased volume will likely impact transaction fees on the network.
The movements of these crypto whales are worth paying attention to, especially for market players who invest in Ethereum-based digital assets.
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How to Buy PEPE (PEPE) on Bittime
You can buy and sell PEPE (PEPE) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
PEPE (PEPE) is available on Bittime with the market pair PEPE/IDR . To be able to buy PEPE/IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum asset purchase at Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy PEPE (PEPE) on Bittime.
Monitor price chart movements of PEPE (PEPE), Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or solicitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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