Justin Sun's Two Wallets Have Cumulatively Received $48.76 Million in PEPE; Holdings Value Rises to $51.01 Million

TechFlow reported on October 27 that, according to monitoring by on-chain analytics platform Arkham (@arkham), two wallets associated with Justin Sun received PEPE from Poloniex in two transactions on October 17 and 26: 7.2 trillion tokens (about $28.44 million) on October 17 and 4.65 trillion tokens (about $20.32 million) on October 26, for a total of about $48.76 million. The tokens appear to have been initially purchased from Binance, then moved through Poloniex and HTX before returning to Poloniex and ultimately being transferred to Justin Sun's wallets.

During the same period, Justin Sun transferred $77 million in stablecoins to Poloniex in six transactions from October 15 to 25, including $60 million in USDT and $17 million in USDC; the funds had previously been redeemed from Spark/AAVE and Sky, respectively.

Before October 17, Justin Sun held only about $267,000 in PEPE (68 billion tokens). The current holdings value of the two wallets is about $51.01 million, up by more than $2 million since receipt, accounting for about 2.82% of PEPE's total supply and 2.2% of his $2.29 billion on-chain wealth.

Source: TechFlow