Mysterious Whale Activity Sparks Curiosity in Crypto Markets
An unexpected and somewhat puzzling development has occurred in the cryptocurrency arena, thanks to the actions of a newly installed whale. This appears to be a fairly straightforward purchase: 1.908 million USDC changed hands to acquire a whopping 282.446 billion PEPE at an average price of about $0.000006754 per token. What makes the purchase noteworthy is the particular means by which the whale obtained the stablecoins that fueled the acquisition. https://twitter.com/EyeOnChain/status/1900017941032386618 The Unusual Source of Funds What isn't raising eyebrows is just the transaction's huge size; rather, what is raising eyebrows is the stash of stablecoins, which are MIA. The whale isn't receiving USDC through conventional means. The whale was just reported to be acquiring funds from a null address using a gimmick known as the "Receive Message" method. This move, particularly pulling USDC from a null address (which usually […]
