- The company received a profit that exceeds the amount of the deposit by 10 times
- The fund purchased tokens for a total of $244 thousand, at an average price of $0.0000002431
The world’s largest investment fund BlackRock traded the PEPE meme token. On Twitter, Lookonchain reported that the investment giant managed to earn more than $2.39 million.
“We noticed that the BlackRock Fund has withdrawn $1.27 trillion PEPE ($1.98 million) from the Binance crypto exchange to 4 addresses. And before that, BlackRock Fund earned $2.39 million.”
“These 4 addresses use the same Binance deposit address as blackrockfund3.eth and are most likely addresses recently created by BlackRock Fund.”
Lookchain reports that on April 21, the investment fund bought $1.27 trillion PEPE at an average price of $0.0000002431, for a total of $244,000. The purchase was made in two tranches. Already on May 5, the company sold all the coins at an average price of $0.000002627. Net income was approximately $2.39 million, which is 10 times more than the amount of the deposit.
BlackRock is not the only one who has been able to cash in on the meme token hype. A trader made over $1.14 million in PEPE price spikes with just $250 invested.
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