The top cryptocurrencies to watch this week are Bitcoin (BTC), Ethereum (ETH), and Pepe (PEPE). Bitcoin has experienced a decrease in whale activity recently, but a surge in whale transactions could impact BTC prices positively. A notable movement of 1,200 Bitcoin, valued at $77.67 million, by a whale into the Kraken exchange was highlighted by Lookonchain. The same whale had accumulated 24,755 BTC worth $1.68 billion between March 1 and April 15, with an average purchase price of $68,051 per Bitcoin.

According to data from CryptoQuant, exchange inflows from Bitcoin whales have reached a five-month high, indicating potential profit-taking by major holders. This trend could lead to a significant price correction in the upcoming week. Large-scale transactions in the crypto market, especially by Bitcoin whales, can significantly influence prices due to Bitcoin’s dominance.

On the other hand, Ethereum has maintained a positive outlook despite the overall market decline. Altcoins faced downward pressure causing a $150 billion drop in the total crypto market cap over the weekend. Ethereum’s price action has corrected by 32% from its yearly high but remains 75% up year-to-date. It was one of the few high-cap cryptocurrencies to stay in the green over the weekend and has continued its positive momentum.

Pepe, the third-largest meme coin by market cap, has shown strong performance recently. Priced at $0.000007459, Pepe has seen a 7.1% increase in 24 hours and nearly 28% growth in the last 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.

In conclusion, Bitcoin, Ethereum, and Pepe are crucial cryptocurrencies to keep an eye on this week as they navigate through market fluctuations driven by whale activity and market sentiment. Stay informed about the latest news and updates on Global Crypto News.

Post Views: 6