Whales Started Intensive Sale! What’s Next for 2 Altcoins?

In the world of crypto money, there are important developments for two altcoins today. Moreover, they were exposed to an intense wave of sales. Let’s look at the details.

Altcoin PERP is in high selling price

Altcoin PERP recorded a significant rise in a sluggish time frame. The price has increased by over 100%. But the meteoric gains did not go unnoticed, attracting the attention of astute cryptocurrency investors and enthusiasts.

On the other hand, the rise of altcoin continues to accumulate wealth for many. It also presents a situation of uncertainty. Accordingly, a reputable data provider Look On-Chain sheds light on a surprising development. The decision of the PERP Foundation to launch a sale on the Binance exchange after the recent price increases draws attention.

Sales wave from Perp Foundation

Perpetual Protocol Foundation Wallet has moved a significant number of altcoins PERP, according to Lookonchain data. It sent 903k PERP to Binance just three hours before the price of PERP went up. The numerical equivalent of the PERP sent is 691 thousand dollars.

From March to August, the foundation’s wallet periodically deposits PERP tokens into Binance. To date, 7 million PERP tokens, equivalent to $4.6 million, have been moved to Binance.

Altcoin PEPE movement from whales: Selling at a loss

PEPE, one of the popular meme coins of the cryptocurrency industry, has found itself in turbulent waters in recent months. It also witnessed a significant decline. The token is currently grappling with the consequences of a series of disturbing events that have shaken the PEPE community. On the other hand, it is at the lowest levels of recent times. The problem started when the PEPE development team made an unexpected move, reducing the minimum signature requirement from 8 to 2. This decision was followed by the large-scale transfer of PEPE tokens to various exchanges.

These actions are creating shock waves in the once thriving altcoin. It also triggers a sharp drop in its value. There were also developments that made things worse. Accordingly, some members of the altcoin PEPE team sold the tokens they transferred to exchanges. Accordingly, they chose to take advantage of the situation. This move dealt a heavy blow to investor confidence. It also left the project in disarray. Meanwhile, whales that had bought PEPE in anticipation of a price increase found themselves in a precarious position still waiting to profit.

PEPE whales grapple with losses

Recent data from Lookonchain, a trusted source of cryptocurrency insights, reveals a disturbing development. A whale that entered the PEPE market during the turbulent period recently preferred to sell at a loss. Lookonchain states that the whale in question has deposited 15 trillion PEPEs on Binance. Accordingly, the numerical equivalent of the amount invested is 1.2 million dollars.

In addition, the whale has a loss of 242 thousand dollars. This whale bought 1.5 trillion altcoin PEPE on August 24, which was worth $1.45 million at the time. When we look at Kriptokoin.com, we see that there are intense sales in two important altcoin projects.