Recently, the BTC and altcoin market has been going through an active period with the active participation of investors. This dynamism is also reflected in the changes made by Nascent, an important venture capital company, in its portfolio. In this move detected by Lookonchain, Nascent exchanged its Maker (MKR) assets for Pepe (PEPE) and Lido DAO (LDO) tokens. This indicates that investors’ risk appetite has increased and interest in meme coins has increased. It is a matter of curiosity how this trend will affect the course of the cryptocurrency market in the coming period.
Nascent sold MKR and bought PEPE and LDO
The altcoin and Bitcoin market has been on the agenda lately with the activity of investors. As part of this activity, Nascent, an important venture capital company, changed its portfolio. In this move detected by Lookonchain, Nascent exchanged its Maker (MKR) assets for Pepe (PEPE) and Lido DAO (LDO) tokens. The transaction details of Nascent are quite striking. The company transferred 1,215 MKR tokens worth $3.41 million to the Binance cryptocurrency exchange. Then, he withdrew 141.23 billion PEPE tokens worth $1.57 million, 281 thousand LDO tokens worth $503 thousand and Tether (USDT) worth $3.4 million from his Binance account. This move shows that Nascent currently holds 608.85 billion PEPE tokens worth $7.49 million.
This move by Nascent caused question marks in the cryptocurrency market. MKR is the governance token of the MakerDAO protocol, which has an important place in the DeFi field. LDO is the token of the Lido DAO staking platform. These tokens are among the assets that are considered relatively stable in the cryptocurrency market.
What is PEPE’s position?
On the other hand, PEPE is in a relatively different position. As Kriptokoin.com reported, Pepe is a meme coin inspired by the popular internet meme “Pepe the Frog”. These types of coins are generally known to have high volatility and are used for speculation-based transactions rather than long-term investments. Nascent’s exchange of its stable MKR assets with PEPE is interpreted as a tendency to take higher risks in its investment strategies. This situation can also be considered as an indicator of the recent activity in the cryptocurrency market.
Other altcoin moves attract attention
The developments are not limited to this. According to Lookonchain’s findings, there is a significant amount of fund inflow to the cryptocurrency market. In the last 40 hours, the institution named Cumberland withdrew 246.6 million dollars of Tether (USDT) from Tether Treasury and transferred it to Kraken, Coinbase and OKX exchanges. In addition, other investors withdrew large amounts of Tether from the Tether Treasury and deposited them in the exchanges. These fund inflows suggest that investors’ interest in the cryptocurrency market continues and that activity in the market may increase in the coming period.
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