Despite the semi-abandonment from projectthe liquidity from Pepe Coin remains stableaccording to Kaiko. Last week, the Pepe team a sold a large quantity of tokens in a unexpected.
The same corner PEPE launched in the spring not completely deadaccording to a report by crypto analysis firm Kaiko published on Monday.
On Friday August 25, as reported by RoyalsBlue.comthe Pepe team has modified the parameters of its multisig wallet and transferred 16,000 billion tokens to centralized exchange platforms, including Binance.
The digital parts were then sold for 15 million dollarscausing PEPE’s share price to fall by around 20%.
Our cumulative volume delta (CVD) chart shows net buying and selling on each instrument, with around 12,000 billion net PEPE sold in just 15 minutes as the team unloaded tokens. In one hour, 19,000 billion net tokens were sold,” says Kaiko.
The Tricolor data provider notes that despite the sharp drop in the share price, the liquidity token has remained relatively stable on the exchanges with “$300,000 more bids than offers at less than 0.5% of the average price”.
So, it seems that the team’s potential abandonment of the project is not yet the death sentence some have proclaimed,” adds Kaiko.
This weekend, the team behind the project returned to the transfers and multisig, revealing a supposedly important, and now resolved, internal conflict within the project. Pepe also assured that the remaining 10,000 billion tokens in the multi-signature wallet were “under control”.
“Despite last week’s sale, PEPE trading volume remained well below the annual average, both in dollars and local units,” concludes Kaiko.
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