1.16 billion PEPE transfer stuns world's largest exchange: What's behind it?
A recent report from Whale Alert reveals that 1,158,893,534,074 $PEPE tokens, equivalent to approximately 12.34 million USD, were transferred from an undisclosed wallet to Binance, the world's largest cryptocurrency #exchange .
What is known about the sender address? Initially labeled as unknown, the sender address "0x835" has since been identified as belonging to Binance itself. This transfer of the #memecoin🚀🚀🚀 , valued at over $12.3 million, was simply an internal move between Binance's cold wallets.
The remaining balance of 6.78 trillion #pepe⚡ tokens, worth about $71.73 million, remains in the sender's address, while the destination address now holds 20.257 trillion PEPE tokens, equivalent to $211.48 million.
Source: Arkham Intelligence
Despite the transfer being an internal administrative action, it attracted significant attention to PEPE. Traditionally, such movements toward exchanges are viewed negatively by market participants, often interpreted as a bearish signal.
However, in this case, the transfer was between Binance's own wallets, not from an external whale investor.
PEPE to USD by #CoinMarketCap
The impact of this transfer on PEPE's market performance remains unclear, but the popular meme cryptocurrency has already experienced a decline of more than 16% since the beginning of the week.
