{"id":23114,"date":"2023-08-25T15:48:41","date_gmt":"2023-08-25T15:48:41","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/trillions-of-tokens-sent-to-exchanges\/"},"modified":"2023-08-25T15:48:41","modified_gmt":"2023-08-25T15:48:41","slug":"trillions-of-tokens-sent-to-exchanges","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/trillions-of-tokens-sent-to-exchanges\/","title":{"rendered":"trillions of tokens sent to exchanges"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/08\/1692970407211-a850fb97-3591-4862-84b1-13186075401a-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/08\/1692970407211-a850fb97-3591-4862-84b1-13186075401a-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/08\/1692970407211-a850fb97-3591-4862-84b1-13186075401a-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/08\/1692970407211-a850fb97-3591-4862-84b1-13186075401a-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul class=\"decimal_type\">\n<li>At press time, PEPE was trading at $0.0000008854, down 18.06% in 24 hours.<\/li>\n<li>The token dropped to a low of $0.0000008058 after news of trillions of token movement emerged on August 24.<\/li>\n<li>The tokens were moved to Binance and OKX among two other major exchanges.<\/li>\n<\/ul>\n<p>On Wednesday morning, PepeCoin (PEPE) plunged after millions of dollars worth of PEPE were transferred from the team\u2019s wallet to various crypto exchanges.<\/p>\n<p>As news of the multi-million dollar <a href=\"https:\/\/etherscan.io\/address\/0xa34b091932d9c9ffcff254c9aa1b4210c81f2ea0\">token transfers<\/a> emerged on social media, the token\u2019s market capitalization dropped by $100 million, from $444.4 million to a low of $344.7 million.<\/p>\n<h2>16.045 trillion PEPE sent to four exchanges<\/h2>\n<p>The PepeCoin team sent 16.045 trillion PEPE tokens worth $16.85 million to four exchanges including <a href=\"https:\/\/coinjournal.net\/exchanges\/binance\/\">Binance<\/a>, Bybit, <a href=\"https:\/\/coinjournal.net\/exchanges\/kucoin\/\">KuCoin<\/a>, and OKX from a multi-sig Ethereum address. Normally, a multi-sig wallet requires approval from many parties before any transactions can be done from the wallet.<\/p>\n<p>The PepeCoin team reduced the security requirements for its multi-sig wallet from five out of eight to just two out of eight signatures needed to complete a transaction after the tokens were moved to the exchanges.<\/p>\n<p>After the transfer, PepeCoin\u2019s multi-sig <a href=\"https:\/\/coinjournal.net\/ethereum\/what-is-ethereum\/\">Ethereum<\/a> wallet address was left with 10.697 quadrillion PEPE, worth $9.61 million.<\/p>\n<h2>Panic PEPE sell<\/h2>\n<p>The massive transfers and a lack of clarification from PepeCoin\u2019s official Twitter account sparked concerns about the currency and led to a panic sale, which further pilled bearish pressure on the price of PEPE.<\/p>\n<p>In most cases, whales move their tokens to <a href=\"https:\/\/coinjournal.net\/compare\/best-cryptocurrency-exchanges\/\">crypto exchanges<\/a> in readiness for selling, staking, or exchanging with more valuable tokens and crypto traders\/investors are already speculating that the PepeCoin team is readying itself for any of the above.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/pepe-continues-to-slide-trillions-of-tokens-sent-to-exchanges\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) At press time, PEPE was trading at $0.0000008854, down 18.06% in 24 hours. The token dropped to a low of $0.0000008058 after news of trillions of token movement emerged on August 24. The tokens were moved to Binance and OKX among two other [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":23115,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/23114"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=23114"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/23114\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/23115"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=23114"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=23114"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=23114"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}