Asset management firm BlackRock withdrew 1.27 trillion PEPE (~$1.98 million) from cryptocurrency exchange Binance for four addresses. According to Lookonchain analysts, the company had previously made a tenfold profit of $2.39 million on meme-token transactions.
According to Lookonchain, BlackRock deposited 1 trillion PEPE on the exchange on April 21 – at the time, the coins were worth $244,000 at $0.0000002431. As early as May 5, the firm allegedly sold tokens for $2.63 million at an average price of $0.000002627.
Analysts specified that the addresses used the deposit account blackrockfund3.eth. In their opinion, these are newly created wallets of the management company.
Since the closing of the supposed BlackRock deal the rate of PEPE has fallen by 66.24%. Now the asset is trading at $0.00000158.
Earlier 0xScope team recorded a daily inflow of 3 trillion meme-tokens PEPE worth $46.37 million to centralized exchanges. Then experts warned about the risks of dumping the coin.