Bybit Moves Large Amount of PEPE Out of Its Cold Wallet
Have They Started a PEPEDump?
That must be the story that everyone heard from many other Onchain channels when reading the news of @PEPE being thrown to the exchange's internal address
Bybit's cold wallet (0x88a) transferred $PEPE out of its internal network (Bybit deposit 0xc93) that's true, but they didn't just transfer $PEPE alone
From 18/3-25/3 they transferred a total of 2.25B$ out of this cold wallet including
1.1B$ USDT
501M$ ETH
350M$ USDE
200M$ BSC-USD
218M$ MNT
80M$ ONDO
65.52M$ MOVE
64.32M$ PEPE
31.29M$ STETH
On 18/3 Bybit Cold held 2.8B$ worth of assets, but today only 555M$ asset value
=> We can see that they are taking action to rebalance their investment portfolio as well as reset some wallets and tokens in their system
It is necessary to re-check and research carefully before panicking or over-fomoting when you see negative information online about a project or token that you are investing in
Currently, we do not have to worry about the transferred tokens being sold off at the present time as the information that other onchain channels are announcing
We can continue to confidently Hold $PEPE
PEPE and continue to move towards a common vision