The blockchain analytics platform Lookonchain has identified a potential trend in the cryptocurrency market. Whales using newly minted wallets are accumulating UNI, BLZ, PEPE, and TRB. The findings show significant withdrawals from Centralized Exchanges (CEXs) using fresh addresses, indicating new participants entering projects associated with the identified tokens. The community speculates that these withdrawals suggest a long-term holding strategy to avoid liquidation risks.
One newly created wallet withdrew 870,827 UNI tokens worth $8.5 million from the OKX exchange. Another fresh wallet withdrew 7.69 million BLZ tokens valued at $2.16 million from Binance. Additionally, 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 the same exchange.
The trading data shows that UNI is currently trading at $9.685, down roughly 20% over the past week. In contrast, BLZ has surged 36% in the past four days after bouncing off support around $0.2075, currently trading at $0.2855. The memecoin PEPE has retreated from its recent rally, trading at $0.00001239, marking a 30% decline over the past two weeks from its all-time high of $0.000017223. TRB is currently experiencing its fifth consecutive day of decline, trading at $90.75.
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