Unstaked's Recent 50% Monthly Gain and the Doubling Down by Institutional Giants Like BlackRock Are Dominating the Headlines

Ethereum's recent 50% monthly gain and the doubling down by institutional giants like BlackRock are dominating the headlines. At the same time, Pepe Coin (PEPE)

Institutions are pouring into crypto once more, with BlackRock expanding its Ethereum (ETH) portfolio with a fresh $18.9 million purchase on July 11.

This move follows reports of the institutional investment giant applying to launch an iShares Bitcoin (BTC) Trust.

At the same time, a new report from Blockware Solutions claims that Unstaked has smashed through the $6.6 million funding milestone in its presale.

An astounding $2 million was raised in just 48 hours, with Stage 14 of the presale now seeing coins available for $0.009545.

Unstaked’s AI agents will only be live after the presale ends and the project officially launches.

These agents will be tasked with handling the posting, moderation, and community engagement on platforms like Telegram, Discord, and X.

Unstaked’s Proof of Intelligence protocol will be used to track the performance of these agents on-chain, rewarding useful actions and output.

Here’s a closer look at what’s been happening with three hot crypto projects today.

Ethereum Surges 50% As It Trades Above Key MA LevelInstitutions have been busy buying more crypto in recent days, with new data from Glassnode showing that on-chain transactions in the $100,000 to $10 million tier have reached their highest levels since November 2021.

This activity is largely driven by large investors like BlackRock, who have been increasing their holdings of major coins.

In the case of Ethereum, BlackRock's latest purchase takes its total ETH holdings to over $760 million. This follows a previous purchase of $594 million in January, which was the largest single-day crypto trade by an institutional investor at the time.

The recent surge in Ethereum’s price has also seen it break out above the 200-day simple moving average.

This breakout is a key technical indicator that could attract more buyers to the market, especially if the price manages to sustain itself above the 200-day MA level.

At the same time, the relative strength index (RSI) is getting close to the overbought territory at 70, suggesting that the bullish momentum may slow down if the price fails to break through the next resistance zone.

The MACD (moving average convergence divergence) is still in bullish territory, indicating that the bullish trend is still intact.

However, the MACD line is getting closer to the MACD signal line, which could be a sign that the bullish momentum is slowing down.

From a technical analysis perspective, Ethereum has encountered resistance at the 38.2% Fibonacci retracement level from the March 2020 low to the December 2021 high.

The price has bounced off this resistance twice now, and it remains to be seen whether buyers will have enough strength to push the price through this resistance.

If the bulls manage to break through the $3,200 resistance, then the next resistance level could be at $10,000, which is the 50% Fibonacci retracement level.

However, if the bears manage to push the price back below the 200-day MA at $2,500, then the next support level could be at the 23.6% Fibonacci retracement level at $1,688.

Pepe Price Surges 68% As Futures Activity Heats UpPepe price has surged by a whopping 68% over the past month, outperforming other major meme coins like Dogecoin and Shiba Inu.

The meme coin's recent rally has seen it smash through several key resistance levels, and it is now on the verge of testing the next major resistance zone.

At the time of writing, PEPE is currently trading at $0.00001400. It is closing in on the next resistance levels at $0.00001540 and $0.00002209.

Technical analysis signals are also indicating that the bullish trend in Pepe may continue.

The coin is still holding above the $0.00001289 support level, which is the 0.382 Fibonacci retracement level from the March 2024 low to the August 2024 high.

A breakout above the $0.00002209 resistance could see Pepe's price surge by as much as 80%. But if the bears manage to push the price back below the $0.00001289 support level, then it could see a decline of up to 50%.

Open interest in PEPE futures contracts has now hit $583 million, highlighting the significant levels of trader activity in the meme