Archive for August 2023
Strange PEPE Transfers Frighten Cryptocurrency Investors, Leading to 15% Drop in Meme Coin Price
The cryptocurrency market was spooked when millions of dollars’ worth of the PEPE meme coin flooded crypto exchanges on Thursday, causing a significant 15% plunge in its price and highlighting concerns surrounding the project’s multisig wallet, which holds a substantial portion of the joke cryptocurrency. During midday on Thursday, an astonishing 16 trillion tokens were…
Bitcoin and Ether are trading below the “maximum pain” levels ahead of a significant options settlement worth $2.7 billion.
According to Lin Chen of Deribit, a leading crypto options exchange, a substantial number of put options are currently in-the-money. While both cryptocurrencies have seen some gains in the past 24 hours, their prices are still below the levels that would cause the most distress to the buyers of August expiry option contracts. The theory…