An unknown whale recently sparked conversations across the crypto sector by accumulating massive amounts of Wrapped Bitcoin (WBTC). Despite a major controversy surrounding the token’s ownership structure, the whale bought $16 million in WBTC tokens.
An unknown whale accumulates $118 million in WBTC
The unusual whale activity was published by Lookonchain, a blockchain analytics service that said that the whale address snapped up over 347 WBTC, which is around $16 million according to current prices.
https://x.com/lookonchain/status/1825699166628290599
The funds were added to a growing WBTC stash which accumulated a total of 1,953 WBTC, or around $118 million, paying the average price of $58,853. The issue with the purchase is that it comes during an ongoing controversy regarding the ownership structure of WBTC.
Earlier this month, the team behind Wrapped Bitcoin, BitGo, shared plans to transfer control over WBTC to a joint venture consisting of Justin Sun’s Tron ecosystem, a Hong Kong-based investment manager BiT Global, and BitGo itself. Only one day later, Bock Analitica published a proposal, requesting that the protocol close all WBTC debts and prevent new borrowing against WBTC collateral.
Several days after that, on August 16, MakerDAO approved and executed the proposal, which prohibited the borrowing of WBTC on the Sparklend platform.
But, while the crypto sector may be skeptical of the future of WBTC, there are always other cryptos to consider buying, such as Pepe Unchained (PEPU), which became one of the most successful ICOs of the year.
JOIN THE PEPU ICO AND BUY ITS TOKENS AT LOW PRICE
What do you need to know about Pepe Unchained?
Pepe Unchained calls itself the new and improved version of Pepe. While the original Pepe is based on Ethereum, and as such, it is held back by the network’s limitations — low scalability, high fees, and long transaction times — PEPU has its own blockchain.
Its developers have created an L2 chain on top of Ethereum, which allows PEPU to be much faster, cheaper, and more scalable than the original Pepe. In a sense, PEPU became “unchained” from the limitations that held back the original, hence the name.
The meme coin sector loved this approach, and the Pepe Unchained ICO became one of the biggest ones this year, raising over $9.6 million as of August 20, and counting. Its token, PEPU, sells for $0.0091996, although its price is scheduled to see another increase in less than two days.
BUY PEPU BEFORE THE NEXT PRICE INCREASE
In other words, investors who want to buy PEPU during its ICO should join before the presale enters its next stage and pushes the token’s price further up. You can buy PEPU with ETH, BNB, USDT, or your credit/debit card.
