See original
carlos henrique Gonçalves Nascimento
--
PepeCoin, known as PEPE, has lost about 17% in the last twenty-four hours, according to data from CoinMarketCap. In this sense, the apparent reason is the discovery by investors of massive transfers between the team's wallets and several exchanges. In addition, security changes in the code are worrying enthusiasts.
The movement usually indicates a sell-off, and since it is the team behind the cryptocurrency, investors suspect a large amount of money is being dumped, which reduces confidence in the project.
Therefore, hours after the team sent remittances of 16.045 trillion PEPE, or US$$ 16.85 million, to four major exchanges such as Binance, OKX, KuCoin and Bybit, the market capitalization of the coin decreased by US$100 million. This increased the value of the wallet from US$$ 444.4 million to US$$ 344.7 million at the time.
However, these transfers were made from a multi-signature wallet, which is a type of wallet that requires approvals from multiple parties before making any transaction. Shortly after these transfers, the team changed the security requirements of this wallet, reducing the number of signatures required to just two from eight.
After these movements, the wallet still holds 10.697 trillion PEPE, valued at approximately US$$ 9.61 million. The lack of official communication after these massive transfers caused concern in the community, leading many to sell their tokens in panic, the famous FUD.
The movement usually indicates a sell-off, and since it is the team behind the cryptocurrency, investors suspect a large amount of money is being dumped, which reduces confidence in the project.
Therefore, hours after the team sent remittances of 16.045 trillion PEPE, or US$$ 16.85 million, to four major exchanges such as Binance, OKX, KuCoin and Bybit, the market capitalization of the coin decreased by US$100 million. This increased the value of the wallet from US$$ 444.4 million to US$$ 344.7 million at the time.
However, these transfers were made from a multi-signature wallet, which is a type of wallet that requires approvals from multiple parties before making any transaction. Shortly after these transfers, the team changed the security requirements of this wallet, reducing the number of signatures required to just two from eight.
After these movements, the wallet still holds 10.697 trillion PEPE, valued at approximately US$$ 9.61 million. The lack of official communication after these massive transfers caused concern in the community, leading many to sell their tokens in panic, the famous FUD.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
9
0
Replies 0