Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»ALTCOIN NEWS»Binance Reorganizes 1.28T PEPE Coins as Liquidation Achieves $3 Million
ALTCOIN NEWS

Binance Reorganizes 1.28T PEPE Coins as Liquidation Achieves $3 Million

By Crypto FlexsJuly 7, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Binance Reorganizes 1.28T PEPE Coins as Liquidation Achieves  Million
Share
Facebook Twitter LinkedIn Pinterest Email
  • Binance transferred $14.75 million worth of PEPE between hot wallets.
  • Dormant holder sells 10 billion PEPE coins for $112,000
  • $2.75 million worth of PEPE long positions were liquidated as a result of derivatives liquidation.

PEPE has spent most of this year climbing the global cryptocurrency rankings, but the frog-themed meme coin’s double-digit gains are usually followed by sharp corrections in the cryptocurrency markets.

Binance prepares PEPE for massive market activity

As the overall cryptocurrency markets witnessed a full-blown decline this Wednesday, PEPE was not spared from the bear market either. As Bitcoin (BTC) briefly fell below $60,000 for the first time since June 24, PEPE lost 11% of its value in the last 24 hours.

However, the increased trading activity suggests that major players are waking up to increase their PEPE holdings or take profits. Ahead of the massive wave of PEPE trading activity, Binance shuffled a huge amount of PEPE coins between hot wallets.

Yesterday, the exchange moved 1,286,733,285,955 PEPE tokens from a crypto address, raising the eyebrows of crypto analytics and whale tracking agencies. ‘Binance 28’ to ‘Binance 70.’

Several media outlets incorrectly reported the transaction as an inter-sovereign transaction. Dailycoin It took me a while to verify that the funds were actually transferred between Binance’s two active hot wallets.

Early Buyers Sell $10 Billion: Has PEPE Peaked?

Whale activity on PEPE has produced another surprise today. According to SpotOnChain, dormant cryptocurrency addresses have returned after a 10-month hiatus and sold off a significant portion of their PEPE holdings.

Identified as a password whale ‘Dimethyltryptamine.S’ He sold 10 billion PEPE coins for 32.73 Ether (ETH), making $112,000 in the process. This major crypto player is the ‘smart money’, having recorded a PEPE return of $26.7 million from an initial investment of $45,000.

After 10 months of inactivity $PepeDimethyltryptamine.S 10B is back for sale $Pepe ($112K) 32.73 $Ethereum ~5 hours ago.

In particular, dimethyltryptamine.s is an early $Pepe Buyer who increased $45,000 to $26.7 million (+58.6 thousand%).

Currently the whale holds 1.99T. $Pepe (21.9 million dollars)… pic.twitter.com/dlTwu3Q4u9

— Spot on Chain (@spotonchain) July 3, 2024

Trading in the PEPE derivatives market has piled up with over $3 million in liquidations. Of the total $3.06 million liquidations, $2.71 million were lost to long holders. With a price drop of 11% in 24 hours, short sellers still face liquidations of $350,000 in leveraged positions. The derivatives volume has flashed a new wave of interest, up 73% in 24 hours, but the market price of PEPE continues its downward trend.

At the time of publication, PEPE is trading at $0.0000102, with a monthly loss of 32.2%. Having plummeted to a new monthly low, PEPE could potentially be bought by major holders, as 78% of PEPE token holders are currently profiting at this price.

On the other side

  • According to the latest liquidity data from CoinPaprika, despite the downtrend, PEPE coin has not yet faced any selling pressure on the spot market.
  • According to the consolidated liquidity ledger, PEPE had slightly more entries than sales over the 24-hour period, with bids of $2.65 million and sales of $2.3 million.

Why this matters

Cryptocurrency exchanges that move cryptocurrencies between hot wallets are generally responding to demand related to tokens.

Check out DailyCoin’s popular cryptocurrency news:
Binance Burns 1.7 Billion LUNC as Developers Step Up Reduction Efforts
Bitcoin July is Coming? Historical Trends Excite Hopefuls

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

The HBAR price aims for $ 0.40 when a big decision of the SEC comes.

June 6, 2025

JPMORGAN accepts Bitcoin ETF with loan collateral: How investors can benefit

June 6, 2025

ZK-Proof Blockchain Altcoin Lagrange (LA) New Coinbase

June 6, 2025
Add A Comment

Comments are closed.

Recent Posts

The HBAR price aims for $ 0.40 when a big decision of the SEC comes.

June 6, 2025

Why is the ecosystem of the SEI network boom in the second quarter?

June 6, 2025

Why is the ecosystem of the SEI network boom in the second quarter?

June 6, 2025

Start BTC, DOGE and ETH mining today!

June 6, 2025

AI increases artistry as an innovative creation at NVIDIA GTC Paris.

June 6, 2025

JPMORGAN accepts Bitcoin ETF with loan collateral: How investors can benefit

June 6, 2025

NVIDIA’s BLACKWELL Architecture MLPERF has set up new performance standards.

June 6, 2025

ZK-Proof Blockchain Altcoin Lagrange (LA) New Coinbase

June 6, 2025

ZK-Proof Blockchain Altcoin Lagrange (LA) New Coinbase

June 6, 2025

Bitfinex updates version 1.116 improved platforms

June 6, 2025

Encryption leverage: 2025 trend and change analysis

June 6, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

The HBAR price aims for $ 0.40 when a big decision of the SEC comes.

June 6, 2025

Why is the ecosystem of the SEI network boom in the second quarter?

June 6, 2025

Why is the ecosystem of the SEI network boom in the second quarter?

June 6, 2025
Most Popular

Dogecoin (DOGE) enables bitcoin miner and can easily earn $ 7000 a day in the DDB miner.

February 5, 2025

Bitcoin’s $66.9K price remains strong, raising doubts about a ‘serious correction’.

May 19, 2024

Crypto ‘decoupling’ story ends when stocks follow Bitcoin’s rally.

May 2, 2025
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.