Institutional Investor BlockTower Capital Sells PEPE Tokens After Surging 45%

Wednesday, 22 May 2024, 12:56
An institutional investor, BlockTower Capital, has sold all its PEPE tokens, making a profit of $569,000 following a recent surge of over 45% driven by Ethereum ETF speculation. Other investors are also realizing substantial profits, indicating growing interest in the meme coin sector. The surge in PEPE's price is largely attributed to speculation on Ethereum ETF approval, signaling a potential shift in investor sentiment towards high-risk, high-reward assets.
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Institutional Investor BlockTower Capital Sells PEPE Tokens After Surging 45%

Institutional Investor Sells Pepe After it Hits All-Time Highs

Institutional investor BlockTower Capital has reportedly sold its entire bag of Pepe (PEPE) tokens from a wallet tracked by the on-chain analysis platform Spot On Chain. The sale totals approximately $2.79 million.

Crypto Whales Realize Profits on PEPE

The transaction involved transferring 202.22 billion PEPE tokens to the crypto trading firm Cumberland at a rate of $0.00001381 each, resulting in an estimated profit of $569,000 for BlockTower Capital.

  • This significant divestment coincided with Pepe reaching new price peaks, allowing BlockTower Capital to capture substantial profits.
  • Other early investors of PEPE are also capitalizing on the recent surge, with notable profit margins observed.
“Currently, BlockTower Capital no longer holds any PEPE,” Spot On Chain claims.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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