Floki Inu Price Jumps After Binance Listing of Memecoin Pepe Coin in Innovation Zone

The recent addition of zero fees trading on Binance has resulted in a significant jump in the price of Floki Inu, a memecoin. However, the spike was short-lived. Binance also listed another memecoin, Pepe Coin, which steadily rose to become the 57th ranked cryptocurrency by market cap. Floki Inu developers are working on a three-pronged solution to expand their reach in the crypto market, including a Play to Earn game, a DeFi ecosystem, and a crypto education platform, all powered by the $FLOKI token. The project is influenced by Elon Musk, who recently referred to Floki as the "new CEO of Twitter."

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1.Jump Trading is redeeming 120,000 wstETH in batches into ETH and then transferring it to CEX
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According to the monitoring of on-chain analyst Yu Jin, Jump Trading may be selling ETH: they are currently redeeming a wstETH (120,000 pieces) worth $410 million in batches into ETH and then transferring it to exchanges such as Binance/OKX. So far, they have unpacked and redeemed 83,000 wstETH into 97,500 ETH in the 9 days since July 25. Among them, 66,000 ETH (191.4 million US dollars) have entered the exchange.At present, there are still 37,600 wstETH in their wstETH storage address that have not been transferred out; 11,500 stETH in the redemption ETH address is being redeemed into ETH; and 20,000 ETH in the ETH transfer address to the exchange are waiting to enter the exchange in batches.