BlockTower Capital Sells Off PEPE Tokens for Massive Profits
An institutional investor, BlockTower Capital, recently sold off its entire collection of Pepe (PEPE) tokens, totaling a staggering $2.79 million. This sale coincided with a surge in Pepeβs price, allowing BlockTower Capital to cash in on substantial profits.
Crypto Whales Optimizing Profits on PEPE
- BlockTower Capital transferred 202.22 billion PEPE tokens to Cumberland at a rate of $0.00001381 each, shortly after acquiring them for $0.000011 per token, resulting in a profit of approximately $569,000.
- The company no longer holds any PEPE tokens, according to Spot On Chain.
- Another early investor deposited 182.909 billion PEPE tokens into Binance, making a transaction worth $2.28 million at $0.00001244 per token.
Trading Successes for Early PEPE Investors
- An early investor realized a massive profit of $3.14 million by selling 324.9 billion PEPE tokens acquired for just $463 in Ethereum.
- Pepeβs recent surge of over 20% in 24 hours and 45% over the week is attracting attention in the market.
Market Speculation Driving Pepeβs Rally
- The surge in Pepeβs price is fueled by speculation around potential approval of spot Ethereum (ETH) exchange-traded funds (ETFs) in the U.S.
- Ethereum-based meme coins like Pepe and MOG have gained traction as high-risk, high-reward assets, with investors viewing them as a leveraged bet on Ethereumβs growth.
Analysis on PEPEβs Price Performance
- The Network Realized Profit/Loss (NUPL) indicator shows an increase in gains over the past month, indicating a possibility of significant selling activity ahead as investors aim to realize profits.
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