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Pepe Coin Whale Sells 350B Coins Nabbing 31x Return, Has PEPE Price Topped?
Against the backdrop of a bull crypto market, a Pepe Coin whale’s decision to heavily sell the meme token has ignited severe concerns among traders and investors globally. The latest on-chain data from a tracker revealed that a whale sold 356.2 billion PEPE for 31x return, indicating a loss of confidence over further gains in the token. Nevertheless, broader sentiments for PEPE price remain optimistic despite the massive selloff, as the coin rallied over 140% in the past month.
Pepe Coin Whale Sells 350B Coins Raising Market Concerns
According to the Spotonchain data on X, a whale was reported to have deposited a staggering 356.2 billion of the frog-themed meme token, worth $7.3 million, to the crypto exchange Kraken. Per the data, the whale address 0x5b75….fbda was recorded as making the transaction, amassing a 31x return on his crypto investment.
Notably, this whale address bagged 375.65 billion tokens from the crypto exchange Gemini for a mere $237K during September 2023. Subsequently, this trader commenced offloading the meme token via DEX and Kraken starting February 17, cashing out $7.54 million in total.
Notably, this profit-making trade garnered noteworthy attention, highlighting the Pepe Coin whale’s loss of confidence in the asset’s potential to pump ahead. However, it’s also worth mentioning that the broader market sentiment over the crypto’s future price remains optimistic amid a bullish Q4 and pro-cryptocurrency Donald Trump’s reelection to the white house.
What’s Next For PEPE Price?
PEPE price slipped nearly 2% at the time of reporting and is resting at $0.00002038. This waning action aligns with the considerable selling pressure brought by the abovementioned whale selloff. Notably, the token’s intraday low and high were $0.00001971 and $0.00002102, respectively. However, weekly and monthly charts for the crypto showcased gains worth 8% and 144%, respectively, sparking investor optimism. The broader charts underscored an ongoing bull run for the leading meme coin, sparking contrasting sentiments in the wake of the selloff.
Besides, a recent PEPE price analysis by CoinGape Media further pointed out that the meme token could rally 7x ahead amid heightened market interest. Notably, the analysis revealed that whale accumulations for Pepe Coin have been on a substantial rise amid this bull cycle. Overall, crypto market enthusiasts continue to eye the token, anticipating further gains despite the selloff as market stats indicate that the meme token has not yet topped.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Leading crypto exchange Binance issued a crucial update on crypto Notcoin (NOT), Radiant Capital (RDNT), KAIA, and Aerodrome Finance (AERO) on Wednesday. Notably, the digital asset trading platform revealed that it is delisting certain pairs for two of the mentioned assets while expanding support for the other two. In turn, crypto market participants are speculating over the future price actions of these four coins amid a broader bull market.
Binance Issues Updates on NOT, RDNT, KAIA, and AERO
In an official Binance announcement dated December 4, the crypto exchange giant revealed that it is delisting NOT/BNB and RDNT/BTC on December 6 at 03:00 UTC. This decision by the exchange comes primarily to “protect users and maintain a high-quality trading market.” Further, the announcement revealed that Spot Trading Bots services for the abovementioned pairs are also to be discontinued on the same date and time. Overall, the delisting chronicle has raised severe concerns among investors, reducing the assets’ market visibility.
Simultaneously, in another announcement, the crypto exchange behemoth revealed that it is expanding trade offerings for KAIA and AERO tokens. The exchange is launching KAIAUSDT and AEROUSDT perpetual contracts on December 4 at 14:00 and 14:15 UTC, respectively. Users remain primed to enjoy 75x leverage trading these tokens. Overall, these enhanced trade offerings spark investor optimism, providing the assets with enhanced market visibility.
The leading cryptocurrency exchange‘s announcements on all four assets have set off mixed investor sentiments regarding prices. While the enhanced offering paves the path for further gains, the discontinuation of support has raised bearish sentiments.
How Are The Coins Delivering?
Despite Binance’s delisting announcement, RDNT price was up 13% and is sitting at $0.105. Its 24-hour low and high were $0.08658 and $0.1059, respectively. Even NOT price gained 7% to $0.009623. Its 24-hour low and high were $0.008376 and $0.009651, respectively. These tokens have defied usual market sentiments, although market watchers continue to monitor them.
Besides, KAIA price soared 2% intraday to reach $0.3573. Its 24-hour low and high were $0.2692 and $0.3754, respectively. AERO price witnessed gains worth 16% in the past 24 hours and is currently trading at $1.92. Its intraday low and high were $1.57 and $1.85, respectively.
Altogether, the rising actions could be the effect of a broader Q4 bull market. Nevertheless, market watchers continue to keep these coins on the radar for further shifts.
Also, it’s noteworthy that Binance announced delisting BAND, GTC, AVA, and other tokens in BTC pairs in another similar chronicle. The crypto exchange’s announcements appear to have a highly influential stance and remain much-eyed in the industry,
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Leading DeFi platform PancakeSwap on Wednesday marked a monumental stride, introducing a new token launch portal for BNB Chain, SpringBoard. This new platform is much-touted to be similar to Solana’s token launch platform Pumpfun.
PancakeSwap Launches SpringBoard Aiding Projects On BNB Chain
In an official announcement by PancakeSwap on December 4, the DeFi entity revealed that it is introducing an all-in-one platform to create and launch tokens on BNB Chain. This platform is called SpringBoard.
Notably, the newly launched portal is set to cause a stir in the market, offering revolutionary features. First off, no coding is required to create tokens on PancakSwap’s new portal. “Once you’ve configured your project’s name, ticker, and basic settings, your token will be live and ready for trading in minutes,” the announcement stated.
Further, the new portal also offers users low-cost and fair launch opportunities. This includes zero launch fee, transparent trading fees, and minimal seeding fee required for a token launch. Also, token launchers can choose multiple token pairings, ranging from BNB, USDT, and CAKE on this new portal. Additionally, another feature of the portal, the Farm Program, aims to offer projects increased liquidity with CAKE.
PancakeSwap’s announcement also offered a step-by-step guide for those looking to utilize the new platform for token launches. Further, in light of the new platform’s launch, CAKE price soared roughly 30% to $4.12. On the other hand, Solana’s Pumpfun has also garnered noteworthy attention amid this bull cycle.
Solana’s Pumpfun Gains Traction
CoinGape reported that Pumpfun achieved record-breaking monthly revenue in November, marking a 207% increase from October. This monumental stride comes against the backdrop of initial token launches such as WIF and POPCAT, followed by CHILLGUY, PNUT, MOODENG, and many others.
Simultaneously, the Solana-based token launch platform has also recently encountered significant backlash over its live-streaming feature. In the wake of this backlash, Pumpfun also suspended the live-streaming service the previous month. These chronicles have garnered significant attention to the Solana token launch platform. Meanwhile, PancakeSwap’s SpringBoard further remains poised to rival Pumpfun.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Ronin Network (RON) saw a 33.18% jump in transactions in the past 24 hours, reported on-chain analytics platform Nansen. The total transaction count reached 2.55 million, a clear sign of increased user engagement. This surge raises questions about the network’s future potential and whether it could trigger a price rally. As momentum builds, attention turns to its’s continued growth in the blockchain space.
Ronin Network Sees 2.55 Million Transactions and $1.2 Billion TVL
Nansen has reported a significant 33.18% surge in transactions on the Ronin Network over the past 24 hours, with a total of 2.55 million transactions processed. This surge indicates heightened activity within the ecosystem, pointing to increased engagement and possible future growth.
This uptick in transactions comes as RON solidifies its position in the blockchain space, especially with its strong association with the popular game Axie Infinity. Currently, Ronin has 1.22 million daily active addresses and a Total Value Locked (TVL) of $1.2 billion. Despite supporting only 15 games, Ronin’s low fees and scalability have made it a preferred blockchain for gaming and decentralized finance (DeFi) projects, driving continued adoption.
Looking ahead, Ronin Network is preparing for a major transition to a permissionless blockchain in Q1 2025, which is expected to further broaden its ecosystem. As these developments unfold, the recent surge in transactions could indicate that the network is gearing up for more significant growth, potentially resulting in an upward price movement for RON, its native token.
Price Movement Shows Bullish Momentum
Ronin Network (RON) price was trading at $2.36, reflecting a 8% increase in the past hour. Over the last 24 hours, its price fluctuated between $2.049 and $2.36, showing solid price action. The token has seen impressive growth, with a 35% increase in value over the past week and a remarkable 80% gain in the last month. Coinglass data indicate a significant increase in derivatives trading activity.
With a market capitalization of $824 million and a 24-hour trading volume of $56 million, RON has garnered significant attention in the market. The token’s recent performance, along with the surge in network transactions, suggests a growing bullish sentiment around the Ronin ecosystem. If the current momentum continues, RON price could see further upward movement, potentially benefiting from the expanding user base and upcoming network developments.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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