New Whales Accumulate Uniswap (UNI) as Tokens Withdrawn from Exchanges in Large Volumes

  • Recent whale activity signals a growing interest in specific cryptocurrencies such as UNI, BLZ, PEPE, and TRB.
  • Blockchain analytics platform Lookonchain has reported substantial token withdrawals from major centralized exchanges (CEXs).
  • The identified tokens exhibit unique price movement patterns, stirring curiosity in the crypto community.

Whales are amassing tokens like UNI, BLZ, PEPE, and TRB, indicating potential long-term investment strategies and market shifts.

Whales Show Interest in UNI, BLZ, PEPE, and TRB

Lookonchain, a blockchain analytics platform renowned for monitoring high-volume cryptocurrency transactions, has uncovered a significant development in the crypto market. The platform recently disclosed that whales with newly minted wallets have been acquiring notable amounts of UNI, BLZ, PEPE, and TRB tokens, suggesting a careful accumulation strategy.

Large-Scale Withdrawals from Major Exchanges

Diving deeper, Lookonchain’s analysis presents compelling data regarding the withdrawal of tokens from major exchanges. One newly created wallet has withdrawn 870,827 UNI tokens, valued at approximately $8.5 million, from the OKX exchange. Similarly, another fresh wallet has taken out 7.69 million BLZ tokens, worth $2.16 million, from Binance, highlighting a significant movement of assets.

Patterns in Whale Behavior and Market Speculations

Additional findings by Lookonchain indicate substantial withdrawals from CEXs using recent addresses shortly before the UNI and BLZ transactions. For instance, one address withdrew 303.4 billion PEPE tokens, valued at $3.8 million, while another transferred 20,628 TRB tokens, worth $1.9 million, from Binance. The broader community speculates that these movements might be aimed at long-term holding strategies to mitigate liquidation risks and capitalize on potential future gains.

Price Movements and Market Reactions

In the market, TradingView’s data reveals dynamic price behavior for the identified tokens. UNI is trading at $9.685, marking a decline of around 20% in the past week. In contrast, BLZ has seen a substantial rally, rising by 36% over the last four days, currently priced at $0.2855. Meanwhile, the memecoin PEPE is experiencing a correction, trading at $0.00001239 after a 30% drop from its all-time high. TRB is facing its fifth consecutive day of price declines, currently valued at $90.75.

Conclusion

The recent activities of whales accumulating UNI, BLZ, PEPE, and TRB indicate a noteworthy trend in the crypto market. These movements suggest a strategic approach by new market participants, potentially signaling confidence in these tokens’ long-term prospects. As the crypto landscape continues to evolve, these significant withdrawals and price movements offer key insights into possible future developments.

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Jocelyn Blake
Jocelyn Blakehttps://en.coinotag.com/
Jocelyn Blake is a 29-year-old writer with a particular interest in NFTs (Non-Fungible Tokens). With a love for exploring the latest trends in the cryptocurrency space, Jocelyn provides valuable insights on the world of NFTs.
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