Blockchain tracker Lookonchain has spotted a potential accumulation of GMX, a decentralized exchange (DEX) token, by large investors.
Whales Buy GMX
According to Lookonchain, multiple new wallets have purchased over $15 million worth of GMX from Binance. This has contributed to a 24% price increase for GMX over the past two days.
Other Whale Activity
Lookonchain also observed a whale accumulating the memecoin PEPE on Kraken. The whale has bought a total of $8.34 million worth of PEPE since March 16th.
Crypto Firm Invests in PEPE
During a recent price correction, crypto investment firm Nascent purchased over $5.85 million worth of PEPE.
Current Prices
At the time of writing, GMX is trading at $38.51, down 2.73% in the past day. PEPE is trading at $0.0000125, down 13% in the last week.
