Amber Group Buys the Drop: Ethereum and Uniswap in Focus!

Last week, the cryptocurrency market experienced a pullback, losing upward momentum and seeing significant selling.

Bitcoin and other altcoins fell to lows not seen for months during this period.

Notably, Amber Group, a leading firm, capitalized on this decline by investing in two altcoins worth approximately $20 million.

Amber Group Turned the Market Decline into an Opportunity and Invested in Altcoins

Following a report that the US Consumer Price Index (CPI) fell short of expectations, the Federal Reserve (Fed) initially created a stir in the crypto market by talking about the possibility of interest rate cuts, as seen from reliable financial sources. However, the Fed soon extinguished these hopes by keeping interest rates constant and adopting a hawkish stance. This policy led to widespread selling of risky assets, including cryptocurrencies. Taking advantage of this decline, Amber Group, as a major player in the cryptocurrency space, invested heavily in two altcoins.

Amber Group's Strategic Altcoin Purchases

On-chain data analysis platform Lookonchain revealed that Amber Group is aggressively taking advantage of market conditions. It was determined that addresses affiliated with Amber Group purchased approximately $20 million worth of Ethereum (ETH) and Uniswap (UNI) tokens during this decline. In particular, the company attracted attention by displaying a strategic accumulation move by withdrawing a significant amount of ETH and UNI from various exchanges.

Lookonchain reported that an address associated with Amber Group withdrew 2,638 ETH from Binance, and this withdrawal was worth $9.2 million. Additionally, Amber Group strengthened its Uniswap holdings with two large transactions—withdrawing 547,305 UNI from Binance and 439,749 UNI from Gate.io, totaling $10.6 million.

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