Top ETH Whales Are Ditching the PEPE Meme Coin and Going for DeFi Tokens Like Remittix

This kind of story isn't new, especially with meme coins like PEPE. In fact, on-chain data shows that several big ETH accounts are selling

As crypto prices continue to fluctuate wildly, on-chain data reveals a fascinating trend: several top ETH holders are shifting their priorities away from meme coins like PEPE and towards promising DeFi tokens, such as Remittix (RTX). This development comes as PEPE's price has taken a significant hit following a brief surge earlier in December.

After a crypto whale liquidated their WBTC and USDC holdings, which were valued at around $1.59 million, and used the proceeds to acquire 60 billion PEPE tokens on the 10th of December, the price of the meme coin quickly began to decline amidst increasing market volatility. This led the whale to hastily sell their newly purchased PEPE tokens at a loss of $500,000.

This type of story is not uncommon, especially when it comes to meme coins like PEPE. However, on-chain data now indicates that several large ETH accounts are selling their PEPE holdings and opting for revolutionary DeFi tokens like Remittix instead.

Remittix ushers in a new era for global payments

The realm of cross-border payments is an established sector of the financial industry, with companies like Stripe and Western Union dominating the space. However, these firms are known for their discriminatory practices, slow processing times, and exorbitant fees. This domain is ripe for a new solution that can propel it into the 21st century, which is precisely where Remittix steps in.

Remittix is primarily geared towards facilitating seamless, inclusive, and affordable crypto-to-fiat payments. By bridging local payments networks around the globe, this crypto protocol enables users to effortlessly send funds directly from their crypto wallets to any bank account anywhere in the world.

These transactions incur a flat fee, with no additional charges for foreign exchange, wires, or hidden costs. This stands in stark contrast to the hefty 5%-10% charged by Stripe and Western Union, and the transactions are executed almost instantaneously. Moreover, the recipient receives the transfer without any indication that it originated as a crypto payment.

With Remittix poised to revolutionize the global remittance market, this journey promises to be an exciting one. By making cross-border payments a breeze, Remittix is set to shake up the Decentralized Finance industry, rendering the DeFi token highly attractive to discerning crypto investors.

Is the meme coin hype over?

During the second week of December, as Bitcoin's price experienced a significant drop, meme coins bore the brunt of the impact. PEPE, in particular, saw an immediate decrease of almost 30% following the incident. There was a mini resurgence as PEPE attempted to remain resilient and stem the losses. Unfortunately, things went from bad to worse, with PEPE's price continuing to decline in the following weeks.

Already, crypto commentators are suggesting that the meme coin hype could be over. Considering the actions of ETH whales in selling their PEPE holdings, this may hold true. PEPE's price could potentially lose all the gains it accrued during the last bull market, and no crypto investor wants to be left holding a bag of worthless digital assets.

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