- The Ethereum ecosystem is experiencing a significant surge in activity with new wallets and first-time accumulators purchasing nearly $77 million worth of Ether tokens.
- This surge is accompanied by the approval of Spot Ethereum ETFs, which has fueled market optimism.
- Notable transactions include substantial withdrawals of tokens like Pepe Coin, Uniswap, and Ethena, highlighting growing interest from new market participants.
Discover the latest developments in the Ethereum ecosystem as new wallets accumulate $77 million in Ether tokens, driven by the approval of Spot Ethereum ETFs.
Ethena Takes The Lead
Ethena has emerged as a frontrunner, with a remarkable 31.05% increase over the past seven days. Three new multisignature wallets have withdrawn 54.31 million ENA, valued at $45.61 million. Notably, wallet “0xe68” withdrew 34.65 million ENA, netting 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 has seen 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, dropping 4.55% to $0.00001376 on Friday, May 24.
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%, 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
Ethereum Name Service (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.
Conclusion
The Ethereum ecosystem is witnessing a robust influx of new investors and substantial token withdrawals, driven by the approval of Spot Ethereum ETFs. Ethena, Pepe Coin, Lido DAO, Aave, Uniswap, and Ethereum Name Service have all experienced significant gains, reflecting growing market optimism. As these trends continue, the market outlook remains positive, with potential for further growth and investment opportunities in the Ethereum ecosystem.
