BlockTower Capital Shifts $2.79M PEPE to Cumberland Amidst Token's ATH
CryptoNewsTerminal Staff22 May, 2024
BlockTower Capital Shifts $2.79M PEPE to Cumberland Amidst Token's ATH
BlockTower Capital, a cryptocurrency investment firm, has reportedly transferred 2,022 trillion PEPE tokens (worth $2.79 million) to a presumed address belonging to cryptocurrency market maker Cumberland. This transfer occurred as PEPE reached its all-time high (ATH). According to on-chain analytics provider SpotOnChain, if Cumberland sells the transferred PEPE, BlockTower Capital could potentially secure a profit of $569,000 within seven days. Currently, PEPE is trading at $0.00001385, marking a 24.40% increase over the past 24 hours, as per CoinMarketCap data. This transaction highlights the firm's activity in the crypto market amidst PEPE's recent surge in value.
