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News

PERP Token Frenzy: 6.8 Million Snatched by Single Multisig Address

September 10, 2023 - Around 2 mins mins to read

Key Points:

  • A crypto address buys 10% of PERP supply ($7.06M) using 4,509 WETH, making waves in the crypto world.
  • The address withdrew $7.66M ETH from Bithumb, converted to WETH, and went on a PERP shopping spree at $1.08 each.
According to meticulous monitoring by online analyst Ember, this address initiated a series of transactions that resulted in the acquisition of a substantial amount of PERP tokens, amounting to a whopping 10% of the cryptocurrency’s circulating supply.
PERP Token Frenzy: 6.8 Million Snatched by Single Multisig Address

The intriguing sequence of events began with the withdrawal of 4,700 ETH, equivalent to approximately $7.66 million, from the Bithumb exchange over the past two days. However, the story doesn’t end there. The ETH was then promptly converted into Wrapped Ethereum (WETH) and transferred to a multi-signature address with a distinctive signature starting with ‘0x912’.

Multi-signature addresses like the one starting with ‘0x912’ often serve as strategic hubs for complex crypto operations. In this case, the address has been actively employing WETH to make continuous purchases of PERP tokens.

PERP Token Frenzy: 6.8 Million Snatched by Single Multisig Address

The data reveals that this crypto address has already utilized 4,509 WETH to acquire a staggering 6.8 million PERP tokens, amounting to an approximate value of $7.06 million. The average purchase price for PERP tokens in this remarkable transaction spree stood at $1.08.

This substantial acquisition has sent ripples through the PERP market, as the purchase volume accounts for a significant 10% of the cryptocurrency’s circulating supply. Such a sizeable stakeholder presence in a cryptocurrency can have profound implications on market dynamics, influencing supply and demand dynamics and potentially impacting token prices.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

PERP

PERP Token

PERP Token Frenzy

Author

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.
News

PERP Token Frenzy: 6.8 Million Snatched by Single Multisig Address

Key Points:

  • A crypto address buys 10% of PERP supply ($7.06M) using 4,509 WETH, making waves in the crypto world.
  • The address withdrew $7.66M ETH from Bithumb, converted to WETH, and went on a PERP shopping spree at $1.08 each.
According to meticulous monitoring by online analyst Ember, this address initiated a series of transactions that resulted in the acquisition of a substantial amount of PERP tokens, amounting to a whopping 10% of the cryptocurrency’s circulating supply.
PERP Token Frenzy: 6.8 Million Snatched by Single Multisig Address

The intriguing sequence of events began with the withdrawal of 4,700 ETH, equivalent to approximately $7.66 million, from the Bithumb exchange over the past two days. However, the story doesn’t end there. The ETH was then promptly converted into Wrapped Ethereum (WETH) and transferred to a multi-signature address with a distinctive signature starting with ‘0x912’.

Multi-signature addresses like the one starting with ‘0x912’ often serve as strategic hubs for complex crypto operations. In this case, the address has been actively employing WETH to make continuous purchases of PERP tokens.

PERP Token Frenzy: 6.8 Million Snatched by Single Multisig Address

The data reveals that this crypto address has already utilized 4,509 WETH to acquire a staggering 6.8 million PERP tokens, amounting to an approximate value of $7.06 million. The average purchase price for PERP tokens in this remarkable transaction spree stood at $1.08.

This substantial acquisition has sent ripples through the PERP market, as the purchase volume accounts for a significant 10% of the cryptocurrency’s circulating supply. Such a sizeable stakeholder presence in a cryptocurrency can have profound implications on market dynamics, influencing supply and demand dynamics and potentially impacting token prices.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.