According to multiple reports, blockchain addresses with the name 'BlackRock' have been purchasing and selling massive amounts of PEPE, the meme coin that has recently caught the world by storm. But is that really the case? And if so, does that make BlackRock a PEPE whale? Let’s find out.

It is not uncommon for Wall Street firms to dabble in cryptocurrencies since digital assets have developed as an alternative investment class that helps diversify portfolios. You may already know that several financial behemoths have taken a liking to cryptocurrencies over the years. JP Morgan, Goldman Sachs, and Morgan Stanley, to mention a few, have made large investments in the industry, whether directly through the provision of crypto services or indirectly through affiliated entities. Even meme coins, which are regarded as among the riskiest bets in an already volatile market, have attracted some prominent names. The most well-known is Tesla and its eccentric billionaire CEO Elon Musk, who appears to be a huge fan of Dogecoin.

When it comes to Wall Street's involvement in cryptocurrencies, particularly meme coins, BlackRock and PEPE are unlikely to be mentioned in the same sentence. But recent headlines have drastically changed that notion.

According to multiple reports, blockchain addresses with the name 'BlackRock' have been purchasing and selling massive amounts of PEPE, the meme coin that has recently caught the world by storm. But is that really the case? And if so, does that make BlackRock a PEPE whale? Let’s find out.

Is BlackRock on the hunt for PEPE?

Yes, the cryptocurrency industry was in recovery mode in the first quarter of 2023, but the recently launched meme coin, PEPE, has all of the bragging rights. Less than three weeks post its launch in mid-April 2023, the coin’s market cap soared to $420 million, pushing the project into the top 100 coins by market capitalization. Come May 5, 2023, the coin hit a market value of $1.8 billion, jumping nearly 7,000 percent post its launch. Speaking to Reuters, CoinDesk analyst Todd Groth said that certain meme coins can pop up on occasion and especially during choppy or sideways markets.

When the price of a cryptocurrency shoots up in such a dramatic fashion, it is often preceded by buying euphoria amongst investors and traders.  Blockchain analytical firm Arkham Intelligence reported that more than 50 addresses held PEPE tokens worth over $1 million each. Some addresses even profited wildly following the meme coin’s surge.

According to reports, one wallet had profited more than $1.4 million after buying 321 ETH worth of PEPE an hour before Binance listed the meme coin. Separately, an Ethereum address was alleged to have spent $260 to purchase 5.9 trillion PEPE tokens, making a $4 million profit by only selling 56 percent of their holdings.

Amidst the buying frenzy, some on-chain platforms were quick to notice that addresses carrying the tag ‘BlackRock’ were placing large orders on PEPE tokens. More specifically, on-chain trackers showed that a wallet bearing the name ‘BlackRock’ withdrew 1.27 trillion in PEPE tokens (worth around $1.98 million), from crypto exchange Binance to four addresses on May 18. It was revealed that the four addresses identified used the same Binance deposit address as ‘blackrockfund3.eth’. Blockchain data tracker Lookonchain discussed that the newly created addresses could belong to the American fund manager, BlackRock.

Lookonchain data even showed that the alleged BlackRock addresses bought 1 trillion worth of PEPE tokens on April 21, worth around $244K at the time. The addresses then netted a profit of $2.39 million by selling their PEPE holdings on May 5.

Given the enormous bags of PEPE that BlackRock allegedly purchased, the fund manager was a PEPE whale for a short time. Is this the case, however?

More to the story?

The anonymity behind blockchain addresses and who owns them works often like a double-edged sword. In that regard, it’s nearly impossible to know whether or not BlackRock actually owns the addresses mentioned above, unless the fund manager makes an official statement. At the moment, we can only speculate.

Meanwhile, a more logical thought process would reject any idea of BlackRock owning PEPE coins. The world’s largest fund manager, BlackRock, manages over $10 trillion in assets. It adheres to a systematic, internally created, model-driven investment approach. In other words, it seems unlikely that the company would abandon this approach for making quick gains through meme coins. One could make a case that a Q1 2023 net profit decline of 19 percent to $1.16 billion may have prompted BlackRock to suddenly make up for the shortfall by investing in high-risk assets. But then again, a $2.39 million profit on PEPE would barely make a dent in its books.

Furthermore, BlackRock recently lost $24 million following the collapse of the crypto exchange, FTX. BlackRock CEO Larry Fink later stated that the firm ‘may have been misled’ in the small investment it made in FTX. Considering this recent loss, it appears unlikely that the fund manager would set aside some cash to invest in PEPE.

Looking at BlackRock's strategy, it is clear that the company focuses on indirect crypto investments. Although BlackRock's clients and consumers can trade Bitcoin through a relationship with Coinbase, the company's major crypto cash cow is its crypto-related ETFs.

Also Read: Explained: Is investing in meme coins safe? 

Conclusion

So, in conclusion, addresses with the 'BlackRock' designation unlikely belong to the fund manager. The news may be somewhat somber for PEPE supporters, but they must remember that there are many other significant buyers in the market, and there may be even brighter days ahead for PEPE, regardless of whether or not BlackRock is a PEPE whale #Binance #pepe #binancepizza #pepecoin

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The cryptocurrency market remained in a negative trend, but Pepe coin saw a rally. Meanwhile, many other alternative cryptocurrencies experienced a decline in momentum.

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On Saturday, September 23, the cryptocurrency market remained in a negative state as investors held back. Recent market performance indicated a shift in trader sentiment, with a noticeable decline in momentum. The crypto market’s fear and greed index stood at 39, indicating a prevailing sense of “fear.”At the time of writing, Bitcoin was priced at $26,543.14, marking a 0.35% decrease over the past 24 hours. Its trading volume also dropped by 25.71% to $10.2 billion.
The week had been generally positive for the leading cryptocurrency, especially after it rebounded from its recent low at $25,000. However, it struggled to maintain its upward momentum due to the volatile nature of the broader market.
On Saturday, September 23, Solana’s price dipped by 1.30% to reach $19.44, and its daily trading volume fell by 38.51% to $160.12 million. Similarly, Binance Coin (BNB) was trading at $210.55, reflecting a 0.53% decline in the last 24 hours, with a volume decrease of 30.34% to $266.38 million.
Ethereum’s price, the second-largest cryptocurrency, fell below $1,600 with a 0.7% decrease from the previous day. As for meme coins, Dogecoin’s price remained stable at $0.0616, while Shiba Inu’s price increased by 0.97% to $0.000007373.
Most altcoins followed Bitcoin’s downward trend, experiencing small daily losses. The overall global crypto market cap dropped by 0.33% in the last 24 hours, reaching $1.05 trillion at the time of writing, with a 91.07% decrease in 24-hour trading volume, which stood at $21.67 billion.
Today’s Top 4 Cryptocurrencies:
Pepe Coin (PEPE) Jumps 11%
1. Pepe Coin: On Saturday, Pepe coin was trading at $0.0000006845, marking an impressive 11.43% increase from the previous day. Its daily trading volume also saw a significant surge, rising by 377.58% to reach $152.74 million. This rally appears to be linked to recent gains in the overall cryptocurrency market after a week of downward movement.
2. Theta Network (THETA): Theta Network’s price increased by 9.02%, reaching $0.6475 at the time of writing. However, its daily trading volume decreased by 16.47% to $77.87 million. Notably, Theta Labs secured a U.S. Patent for its computing platform during the week, announced on September 21.
3. Immutable (IMX): Immutable’s price declined by 8.23% to $0.6112 on September 23, with a one-day trading volume drop of 63.79% to $117.42 million. Despite significant gains earlier in the week, it appears to have lost momentum over the weekend, with a nearly 17% increase over the last seven days.4. MultiversX (EGLD): MultiversX saw its price slip by 2.72% to $25.04 at the time of writing on Saturday. Over the past 24 hours, its trading volume also decreased by 44.73% to $13.99 million, and its market cap fell by 2.71% to $650.86 million. Although no specific news explains this recent decline, it appears to be influenced by the broader market sentiment.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
#Bitcoin #CryptoNews #Pepe #pepecoin #Solana

In an unexpected twist on August 24th, 2023, the PEPE cryptocurrency community faced a significant upheaval. This turn of events involved a series of unforeseen transactions originating from the PEPE multisig CEX Wallet. Approximately 16 Trillion PEPE tokens, valued at around $15 million USD, were transferred to various cryptocurrency exchanges, including OKX, Binance, Kucoin, and Bybit. This sudden move coincided with changes in the multisig wallet's signer count requirements, now demanding only 2 out of 8 wallets for transaction validation. Presently, the multisig holds 10 Trillion tokens, with a sole remaining signer.

Unexpected Transactions and Community Concerns

The unexpected transactions caused a wave of concerns within the PEPE community. The individual responsible for these actions took to Twitter to explain the situation and ensure transparency. The move was reportedly a response to internal conflicts that had plagued the PEPE project for an extended period. The author of the explanation alleged that negative behavior driven by egos and greed among team members had led to a fractured team.

Origin of Internal Strife

According to the explanation, internal conflicts had plagued the PEPE token since its inception. Shortly after the project's launch, a faction of the team, including key creators, distanced themselves, obstructing progress by withholding necessary signatures for transactions and being unreachable for extended periods. The multisig wallet, initially requiring 3 out of 4 signers for approval, became a focal point of contention.

Unauthorized Return

Surprisingly, three former team members who had been inactive for some time managed to regain unauthorized access to the multisig. In a shocking turn of events, they orchestrated the transfer of 16 Trillion tokens, equivalent to 60% of the total supply, to various exchanges for sale. Subsequently, they removed themselves from the multisig and disassociated from the PEPE project, leaving behind a message indicating a change in control.

Regret and Apology

The author expressed shock and remorse over the situation, apologizing to the PEPE community for the resulting fear, uncertainty, and financial losses. The original intent of the tokens stored in the CEX wallet was allegedly not for market sale, and the author regretted not being able to prevent this outcome.

Recovery and Future Plans

Efforts were immediately initiated to regain control of the situation and chart a new course for the PEPE project. The author emphasized having the best interests of the community and the PEPE token at heart. Plans were being discussed with prominent community members to steer the project towards decentralization and resilience.

Handling the aftermath

The sold tokens were rapidly offloaded on exchanges like OKX and Binance. The remaining 10 trillion tokens were set to be relocated to a new wallet, where they would be held until they could be used or burned. The author intended to acquire relevant web domains and usernames associated with PEPE and, upon completing these transactions, proceed with the burning of the remaining tokens.

In Summary

Ultimately, the goal was to restore stability to the PEPE project and foster its growth as a decentralized and resilient meme-coin asset. The author concluded by stressing the importance of unity and shared ownership within the PEPE community. As the project aimed to move past the recent turmoil, it sought to emerge stronger and more united than before.

#pepe #pepecoin #memecoin $PEPE

Many people love to speak like if there is something good in this space. Besides the fast transactions and low fees for moving money around, is there something good left in this space?

Šhît coins. Alt coins turning into nothing. Scams everywhere. Big exchanges bankrupt every couple of months. Inside trading. Stable coins losing its peg. CeFi platforms destroyed. One man tweeting a meme and sending a coin 11,000 % up, NFTs of rocks selling for millions. Youtubers, influencers and people listening to them (not sure what is worst), multiple copies of projects released on a daily basis, hacks all over the place, zero utility, Web3 nonsense, metaverse and virtual land selling for hundreds of thousands and a year later no one cares any longer.

I think the whole idea of crypto had an interesting point when BTC came out. As for today that idea no longer exists because the whole space has been taken over by kids, crypto bros, moon bois, losers and scammers. I'm not saying the traditional financial system works. but I'm wondering if we have any credibility left. How do we really evolve the space into something more serious. Specially for new people trying to get in. Some talk about mass adoption? Are we not really far away from that?

And for the people outraged because of Pepe, more will come. We have one like that every year. As I said before besides fast transactions and low fees, what do we really have that can make a change?

#dyor #Binance #crypto2023 #pepe #pepecoin

Can we expect a new bullish wave after the #pepecoin whale movements?

Pepe coin is back in the spotlight of whales again! Can we expect a new wave of upswing?

Whales have been buying a large amount of PEPE tokens in recent weeks, according to the onchain data analysis platform Lookonchain. As previously reported, this may be an indicator that the price of PEPE tends to rise.

The price of PEPE has shown a slight increase in the last 24 hours.

The Whales are on a PEPE buying spree

According to Lookonchain, one of the remarkable whale transactions was carried out by the @osf_rekt address. June July 14th to July 11th, this whale spent 536 ETH ($1.04 million) to buy 613 billion PEPE tokens, and the average purchase price was $ 0.00000169.Dec.11th, this whale spent 613 ETH ($1.04 million) to buy PEPE tokens. In addition, this whale transferred 690 billion PEPE ($ 1.05 million) to a secure multisig wallet.

Another remarkable whale transaction was performed by the address 0x025a4f00b128f821061f35e571dc2463d565403c. This whale spent 400 thousand USDC to buy 263 billion PEPE tokens at $ 0.000001519.

This whale made a significant profit, as the price of PEPE has since increased to $ 0.000001536.

Finally, thegreatmando, also known as @rectmando.the eth address attracted 635 billion pepecoin ($1 million) from Binance on July 7. This whale had previously purchased these tokens for an average of $ 0.00000149, so he made a significant profit.

Price estimate

Currently, PEPE is trading at $ 0.000001536, up 0.65% in the last 24 hours. The lowest level was $ 0.00000149, and the highest level was $ 0.000001548. PEPE's all-time high was set on May 5, 2023, at $ 0.000004354, a decrease of 64.66%. Pepe, with a value of 602,878,963 dollars, is 3 according to his live market value. the biggest memecoin.

The price analysis reports that the upward trend has resumed with the overcoming of some obstacles and indicates the probability that the PEPE price will reach $ 0.0000019. the support level of $ 0.00000136 stands as a very important support point for the PEPE price. #Binance #memecoins

The Pepe Coin rich list has been released, revealing the top 100 addresses holding the highest number of PEPE coins.
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During this surge in price, the count of addresses holding PEPE has risen. Let’s delve into the rich list to identify the top holders of Pepe coin.

Pepe Coin Price Surges by 18%
The price of Pepe coin has surged by more than 18% over the past few days, reaching a trading value of $0.000003231. This significant increase marks a wonderful opportunity for the PEPE community, representing a notable hike after nearly a year. Last year, PEPE experienced a similar spike, reaching its highest value at $0.000004354 on May 5, 2023.

CoinmarketCap reports that the surge in price has also affected the trading volume and market cap of Pepe coin. The trading volume currently stands at $2,067,176,892, following a surge of 48%. Additionally, the market cap has increased by 18%, reaching $1,310,661,529.

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Analysis of Top 100 Pepe Coin Rich Addresses
According to the list of the top 100 richest Pepe addresses, the largest holder, address “0xf977814e90da44bfa03b6295a0616a897441acec,” possesses a whopping 80 trillion PEPE coins, which accounts for 19% of the total supply. Over the last seven days, this address has traded approximately 27 trillion PEPE on Binance, potentially contributing to a surge in Pepe Coin prices.
There is a notable contrast between the first and second addresses on the list. The second-largest holder owns around 28 trillion PEPE, equivalent to 6.78% of the total supply. The list unveils the 100 wealthiest PEPE addresses, providing insights into the platforms used for transactions and the types of wallets utilized.

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Binance emerges as the platform with the highest number of transactions for Pepe coin, accounting for 107.2131% of the total. Following closely is Bybit, responsible for approximately 19% of the transactions. OKX and Kucoin also feature prominently on the list, representing 6.777% and 5.8664% of the transactions, respectively.
Also Read:   Shiba Inu Coin Burns Lots of Tokens to Improve Token Value
These top 100 holders collectively control 74% of the Pepe distribution in the crypto market. Notably, the top 10 addresses alone account for 46% of the distribution, underscoring a significant concentration of wealth within a small subset of holders.
In Summary
Pepe Coin is currently just 28% below its all-time high value of $0.000004354. If its performance continues on the same trajectory, the meme coin is likely to reach that milestone soon. The highlighted list reveals that a single address holds over 19% of the total supply of Pepe memecoin. Learn more about how Pepe Coin traders earned $2 million in profits.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

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#pepecoin #PEPE #Altcoin #Cryptocurrency #CryptoNews