Over the past week, on-chain data has been
whales have made increasing sales, despite the asset experiencing a price increase.
On-chain data shows that there was a large amount of selling during the recovery from $2,300 to $2,400 on September 19. However, it is observed that individual investors contributed positively to the price action during this process.
Ethereum saw a net inflow of 150,690 ETH on September 19, but these inflows soon began to decline. Over the past seven days, there has been a net inflow of approximately $480 million to centralized exchanges.
These net inflows suggest that retail investors were more active over the weekend, supporting the asset’s price upwards. Despite the whale sell-off, ETH has gained 15% in the last seven days. At press time, the leading altcoin is trading at $2,648, up 2.6% in the last 24 hours.
As of this writing, Ethereum’s market cap stands at $319 billion, with a daily trading volume of just over $17.9 billion.
While the rise of ETH has created a positive atmosphere in the crypto community, whales have started to turn to alternative projects; Pepe Unchained (PEPU) and Crypto All-Stars (STARS) tokens stand out among these projects.
Pepe Unchained: Nearing $15 Million Target$PEPE
Pepe Unchained managed to raise over $14.7 million in pre-sale funding thanks to whales purchasing tokens and joining the project. There is a lot of excitement around this project, and many are predicting that the Pepe Unchained (PEPU) token could reach a market value of $100 million at launch.
Pepe Unchained offers an early investment opportunity for potential investors. Investors can purchase tokens by participating in the pre-sale and optimizing their earnings before the price increases by investing in the staking mechanism.
The current rewards, which offer an annual return of 142 percent, are quite remarkable. The project aims to provide profits with high transaction speeds while preserving the famous Pepe figure.
Pepe Unchained is being built as a Layer 2 blockchain, combining speed, security, low fees, and meme-themed content that engages the community. The PEPU token aims to provide investors with a solution to the problems of congestion and high fees, with the promise of offering 100x faster transactions than ETH and lower transaction fees.
Additionally, the project’s team has introduced a new feature called “Pepe Frens With Benefits,” which allows developers to receive grants to build on Pepe Chain. Applicants will be able to apply from the beginning of October until the end of the year.
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