- Data provided by Nansen’s smart money token inflow list shows that ETH, PEPE, and BLUR have become favorites for smart money.
- The tokens have in recent weeks enjoyed significant attention from traders and investors as they undergo key developments.
Some easily predictable and unpredictable tokens have emerged as some of the favorites among smart money investors. ETH, PEPE, and BLUR are rising stars in Smart Money’s portfolio, according to o-chain data provider Nansen. The data provider reveals that smart money addresses are accumulating, signaling a price boost in the respective tokens soon.
Looking at the performance of ETH, PEPE, and BLUR in the past month, it’s clear that the interest in the tokens has led to an uptick in prices. ETH, which is the highest-ranking altcoin, has recently staged a remarkable rally that saw it reach nearly $4,000. This is a key resistance that bulls are keen to break in the coming months as it looks to retest its all-time high of $4,800 reached in 2021.
Crypto experts believe this will be feasible over the coming weeks based on developments around the token and its associated project, Ethereum. For starters, a key upgrade is expected later this month. Scheduled for March 13, this upgrade is not just another milestone; it represents a pivotal advancement on the Ethereum mainnet, holding considerable significance for Layer 2 chains and rollups.
Touted as the most consequential enhancement since the Merge, the Dencun upgrade introduces the groundbreaking “proto-dank sharding” feature, incorporated through EIP-4844. This innovation aims to alleviate the strain on the underlying blockchain infrastructure and decrease expenses for Layer 2 chains and rollups, heralding a new era of efficiency and scalability for the Ethereum network.
Furthermore, the ETH spot ETF is expected to be approved over the coming months. ETF experts have highlighted May as a key target for the approval of the ETFs. James Seyffart, a Bloomberg ETF analyst, has pointed to May 23 as a pivotal date in this narrative. This date, which is the final deadline for VanEck’s spot ETH ETF application, is seen as the decisive moment that could set the tone for the future of Ethereum ETFs.
Pepe coin has also emerged as a key token to watch in recent weeks. In the past couple of days, the memecoin has set a new all-time high after reaching $0.00000852. This translates to a 12,165.24% gain in the last 11 months. With large investors and smart money accumulating these digital assets, investors can be confident of further gains in the future.
BLUR, on the other hand, has impressed over the last 5 months. After reaching its bottom at $0.1531, the token has gained nearly 330%. This token, ranked 118th based on its $976,943,155 market cap, is primed to stage a breakout that sees it try to close in on its all-time high of $5.07 reached nearly a year ago.
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