While fresh wallets and whales turned to Ethereum-based altcoins, which attracted attention with their rise, during and after the Spot Ethereum ETF approval process, these large purchases by whales increased speculation that the altcoin season could begin.
When looking at whales' purchases, it was seen that they were concentrated in PEPE and Ethena (ENA).
According to data from Spot on Chain and Lookonchain, which track whales' purchases, whales have increased their PEPE and ENA purchases in recent days.
Accordingly, a whale bought 1.32T PEPE worth $18.2 million from Binance in just 2 days.
It was also observed that three whales received 54.31 million ENA worth $45.6 million from CEX in the last 7 days.
PEPE price has increased by 40% in the last 7 days; ENA, on the other hand, recorded a 21% increase.
What a crazy buy!
This whale bought 1.32T $PEPE($18.2M) from #Binance in just 2 days.https://t.co/BJrm5MPqCShttps://t.co/zq9f38G7Vc pic.twitter.com/jnddrLZ5AV
— Lookonchain (@lookonchain) May 24, 2024
*This is not investment advice.
Good