Whales in Action: Significant Transactions Highlighted for PEPE Coin (PEPE) and Three Other Cryptocurrencies
Release: 2024/05/03 02:16 Reading: 995
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The cryptocurrency market remains volatile amidst substantial investments and asset movements by whales (major investors).
Notable Developments in the Past 24 Hours
- Investment in memecoin Pepe (PEPE coin)
- Ethereum Foundation's ETH sale
- Bitcoin whales' accumulation activities
These whale movements serve as crucial signals for investors, offering insights into overall market trends and potential opportunities.
Recent Whale Activities
Pepe (PEPE Coin)
Pepe (PEPE coin), which has undergone significant fluctuations recently, has garnered attention. Data analytics platform Spot On-Chain identified a whale, 0x546, acquiring 331.3 billion PEPE (approximately $2.24 million) through Binance. This investment is notable as the whale utilized a Binance deposit address, indicating a sophisticated investor who previously sold all their UNI assets before a price decline, securing a profit. In the past three days, the whale has withdrawn a total of 660.7 billion PEPE (approximately $4.57 million) from Binance and MEXC exchanges. This activity suggests the whale's long-term confidence in PEPE and anticipation of price appreciation.
Ethereum Foundation
The Ethereum Foundation sold 100 ETH (approximately $290,000) via Cowswap on May 2. This sale occurred alongside the recent downward trend in ETH prices. Some analysts speculate that the sale was driven by the Ethereum Foundation's funding requirements and could also be a precautionary measure against market uncertainty.
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