New Wallet Withdraws 15.1 Trillion PEPE Tokens Worth $15.95 Million from Kraken
Ai Yi, an on-chain analyst, identifies a potential link to Wintermute market maker as a new wallet moves a significant amount of PEPE tokens from Kraken.
PEPE
Summary
On September 12, on-chain analyst Ai Yi reported the withdrawal of 15.1 trillion PEPE tokens, valued at $15.95 million, from a new cryptocurrency address, 0x700...056a6, on Kraken. This withdrawal, made at a price of $0.00001051 per token, is drawing attention due to the large volume and the address’s lack of prior transaction history. Analyst Ai Yi speculates that the address may be linked to the market maker Wintermute, known for holding PEPE among its top assets during the 2024 meme coin surge.
Terms & Concepts
- On-chain Analyst: A researcher who examines blockchain transaction data directly from the distributed ledger to track asset movements and trends.
- Kraken: A major global cryptocurrency exchange that enables the trading of various digital assets, including PEPE tokens.
- PEPE Token: A meme-based cryptocurrency traded on several exchanges, known for its community-driven market dynamics.