Corporate Whale Collects Large PEPE Coin from Binance During Bitcoin Drop!
While there was a sharp decline in Bitcoin (BTC) and altcoin prices, an institutional investor collected a large amount of Pepe.
Bitcoin and altcoins experienced a sharp decline yesterday in parallel with the non-agricultural employment data from the USA. While Bitcoin retreated nearly 5%, these rates reached up to 20% in altcoins.
According to a post by on-chain data and analysis platform Spot On Chain on June 8, institutional cryptocurrency company Nascent bought a large amount of the popular meme coin Pepe (PEPE) during the decline.
According to the data, Nascent purchased 447 thousand PEPE worth $5.48 million from Binance after the price of Pepe hit the bottom. Currently, the company has made a profit quickly and has earned 262 thousand dollars.
With the latest purchase, PEPE ranks first in the portfolio of the cryptocurrency venture capital company. It is stated that the second cryptocurrency in which the company invests the most is Maker (MKR), which it holds with a profit of 248%.
According to CoinGecko data, PEPE is trading at $0.00001299 at the time of writing, with a 9% drop in the last 24 hours.