Citing Arkham data, PANews reported that addresses labeled as and estimated to belong to Justin Sun, over the past 10 days, withdrew from Poloniex 11850000000000 tokens PEPE, now collectively accounting for approximately of the supply 2.82%。
Article
Data: Justin Sun 10 increased his holdings by approximately within days 51000000 USD PEPE, bringing his holdings to nearly 3%and making him the largest individual holder
PANews October 27 reported that, according to Arkham data, Justin Sun's labeled wallets together with addresses Arkham estimates belong to him (0x721) collectively hold approximately 2.82%of the PEPE supply, worth approximately 51000000 USD. No one outside exchanges exceeds this proportion. These PEPE were October 17 and 26 withdrawn from Poloniex in transactions on the respective dates, totaling 11850000000000 tokens, worth 48760000 USD at the time of withdrawal, with unrealized gains now exceeding 2000000 USD. On-chain data show that the tokens were initially purchased on Binance and entered his wallets only after being transferred through Poloniex and HTX.October 15 to 25, Justin Sun transferred 77000000 USD in stablecoins to Poloniex. Previously, he held only 267000 USD worth of PEPE。
Data: Justin Sun 10 increased his holdings by approximately within days 51000000 USD PEPE, bringing his holdings to nearly 3%and making him the largest individual holder
02
PANews October 27 reported that, according to Arkham data, Justin Sun's labeled wallets together with addresses Arkham estimates belong to him (0x721) collectively hold approximately 2.82%of the PEPE supply, worth approximately 51000000 USD. No one outside exchanges exceeds this proportion. These PEPE were October 17 and 26 withdrawn from Poloniex in transactions on the respective dates, totaling 11850000000000 tokens, worth 48760000 USD at the time of withdrawal, with unrealized gains now exceeding 2000000 USD. On-chain data show that the tokens were initially purchased on Binance and entered his wallets only after being transferred through Poloniex and HTX.October 15 to 25, Justin Sun transferred 77000000 USD in stablecoins to Poloniex. Previously, he held only 267000 USD worth of PEPE。
The following is analysis, separate from reported facts. Verify important claims independently.
PEPE: If the reported attribution and continued accumulation are accurate, large-scale withdrawals from exchanges may be interpreted by the market as stronger intent to hold and reduce the corresponding exchange-visible balance.PEPE: A single associated entity reportedly holds nearly 3%of the supply, which may increase the risk of future concentrated selling and price volatility. Concept note: Stablecoins generally aim to maintain the price of a reference asset; their reserves and redemption mechanisms determine their convertibility.
Why it matters to readers
This is an update on the holding size, funding path, and timeline of the same PEPE withdrawal event. The on-chain transfers can be verified, but 0x721 and the attribution of related addresses to Justin Sun include Arkham estimates and have not been independently confirmed.
Assets to watch:PEPE. Observation period: short to medium term. Assets to watch:PEPE. Observation period: medium term
Risks and unknowns
Whether Arkham or Justin Sun confirms 0x721 and the attribution of other related addresses
Whether the relevant PEPE addresses continue withdrawing from exchanges or transfer assets back to exchanges
Poloniex、HTX Whether the funding path between and Binance has independent on-chain verification
PEPE Conditions that would reverse the impact assessment: If the relevant addresses are not owned by Justin Sun, the tokens flow back to exchanges, or substantial selling occurs, this support rationale would weaken or reverse.
Related Developments
Loading event timeline…
PEPE Conditions that would reverse the impact assessment: If address attribution is denied, or holdings are dispersed, locked long term, and show no signs of sale, concentration risk would decline.
Related concepts
Stablecoin
An asset that seeks to track a reference value and is subject to risks including depegging, reserves, and redemption.
