BTC, ETH, and PEPE: The Top Cryptocurrencies to Keep an Eye on This Week
This week, it’s important to keep an eye on the top cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), and Pepe (PEPE).
Bitcoin has seen a decrease in activity from large investors, known as whales, since March 14. However, there has recently been a surge in whale transactions, which could potentially boost BTC prices. Notably, a whale moved 1,200 Bitcoin, worth a staggering $77.67 million, into the Kraken exchange. This same whale had accumulated 24,755 BTC valued at $1.68 billion between March 1 and April 15, with an average purchase price of $68,051 per Bitcoin. Additionally, data from CryptoQuant shows that exchange inflows from Bitcoin whales have reached their highest level in five months. This indicates a possible trend of major holders taking profits, which analysts believe could lead to a significant price correction in the coming week. Large-scale transactions from Bitcoin whales can have a significant impact on the crypto market, given Bitcoin’s dominance.
On the market front, Bitcoin’s price recovery attempts have slowed down. After days of being in the red, the asset has gained 1% in the last 24 hours and is currently trading at $63,520.
Ethereum, on the other hand, has maintained a positive outlook despite facing downward pressure along with other altcoins. While it has corrected by 32% from its yearly high of $4,094, Ethereum’s year-to-date performance remains strong, with a gain of over 75%. It was also one of the few high-cap cryptocurrencies that stayed in the green over the weekend. Currently, ETH is 5.5% higher than it was 24 hours ago and is at its highest point in the last 7 days. Analysts are hinting at a potential bull run for Ethereum based on its underlying indicators.
Another cryptocurrency worth paying attention to this week is Pepe. As the third-largest meme coin by market cap, Pepe has performed well since its launch in 2023. It is currently priced at $0.000007459, showing a 7.1% increase in the last 24 hours and a nearly 28% increase over the week. Despite a 4.8% decrease over the previous month, Pepe’s market strength, with a $3.1 billion market cap and $648 million 24-hour trading volume, positions it as one of the top cryptocurrencies to watch. Despite experiencing retracements, Pepe has shown resilience and could continue its upward trend in the coming weeks, supported by strong trading volume and market interest.
In conclusion, Bitcoin, Ethereum, and Pepe are the key cryptocurrencies to monitor this week as they navigate through market fluctuations and potential price movements driven by whale activity and market sentiment.
