Pepe coin (PEPE) has experienced a significant price increase of 500% in the past two weeks, despite negative funding rates in perpetual futures tied to the token indicating bearish positions in the derivatives market. The price bump has led to significant losses for traders holding short positions against Pepe, with shorts against Pepe losing at least $11 million on several exchanges over the past 24 hours. Pepe losses were third to only bitcoin (BTC) and ether (ETH) futures liquidations, which usually rack up the highest futures losses. Large liquidations can signal the local top or bottom of a steep price move, allowing traders to position themselves accordingly. (Coindesk)
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Pepe Coin Shorters Lose Millions as PEPE Jumps to $900M Valuation
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Cointime August 4 News Express
1.Jump Trading is redeeming 120,000 wstETH in batches into ETH and then transferring it to CEX -
Jump Trading is redeeming 120,000 wstETH in batches into ETH and then transferring it to CEX
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. -
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Crypto Industry Disappointed as Digital Assets Fail to Make an Appearance in First 2024 US Presidential Debate
Despite hopes from industry participants, the topic of crypto was not discussed during the first general debate of the 2024 U.S. presidential election between Joe Biden and Donald Trump. The debate, hosted by CNN, primarily focused on the economy, with brief mentions of other issues such as abortion, immigration, and foreign policy. While crypto has been a talking point throughout the election cycle, neither candidate made any significant statements about it during the debate. The crypto industry is hoping for a Congress and administration that will pass legislation friendly to digital asset businesses, and is looking to repeat the massive spending on elections from 2022. -
Nascent withdrew 447.67 billion PEPE from Binance 6 hours ago, accounting for the largest proportion in its investment portfolio
Spot On Chain reported that six hours ago, Nascent withdrew 44.767 billion PEPE coins (worth $5.48 million) from Binance, currently with a profit of $262,000 (+4.8%). Currently, PEPE ranks first in the investment portfolio of the venture capital firm, followed by MKR, with a total profit of $2.45 million (+248%). -
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