Although the global cryptocurrency market has been in decline recently, some cryptocurrencies are following a reverse trend. Two of these names are Ethereum (ETH) and Uniswap (UNI coin). Behind this rise lies a significant purchase of $20 million from an account associated with Amber Group. Meanwhile, analysts share their return expectations for three altcoins in particular. Here are the details…
Accumulation moves in UNI coin and Ethereum
According to data from the transaction tracking platform called Lookonchain, a cryptocurrency wallet affiliated with Amber Group purchased Ethereum and Uniswap with a total value of $ 20 million from the Binance exchange in just three hours. The details of this purchase are as follows:
- 987,053 UNIs are worth approximately $10.6 million.
- 2,638 ETH is worth approximately $9.2 million.
This large amount of buying action caused a slight increase in both Ethereum and Uniswap prices. It aroused great curiosity among investors as to whether this momentum would continue. On the Ethereum front The fact that the US Securities and Exchange Commission (SEC) is evaluating Spot Ethereum ETF applications feeds the optimistic atmosphere. Following the applications made in May, SEC Chairman Gary Gensler’s statements that approval could be granted at the end of the summer are among the factors that increase market confidence.
Stunning analyzes for SHIB, AKT and PEPE
Meanwhile, cryptocurrencies, which are expected to make a rapid recovery this week, attracted attention. Here are 3 cryptos to pay attention to, according to analyst Pooja Khardia:
- Akash Network (AKT): Akash Network’s recovery journey has begun. It has increased by 8% in the last 24 hours. AKT’s decline began weeks before other cryptocurrencies began their downward trend. It was on a downward trend, losing 40% of its value in a one-month period. However, this is about to change as the increase in network activity increased transaction volume by 183% to $47,525,537. Technical indicators and moving averages point to a strong buy zone. Additionally, the Relative Strength Index (RSI) stands at 57,543, which is an indicator of the traders’ dominance.
- Shiba Inu: Shiba Inu enthusiasts await the long-awaited rise. Despite being one of the most popular meme coins, SHIB failed to reach its all-time high of $0.00008845 set three years ago. The ongoing decline has pushed the Shiba Inu price to $0.00002088, resulting in a 75% move away from its all-time high. Although the target is large, the Shiba Inu price has slowly begun to rise with the increase in the number of transactions on the network. It currently has a trading volume of $482.1 million, following a 41% increase.
- Pepe (PEPE): PEPE has been one of the most popular cryptocurrencies since the beginning, especially with its 829% gain in the last six months, making it among the top 25 cryptocurrencies on CoinmarketCap. The sensation peaked in May, rising steadily to new highs, but then began a downward trend. PEPE price is currently trading at $0.0000121 and is slowly moving away from the all-time high, but the bulls have started to make their presence felt in the market again.
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