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Stablecoin issuer Tether made another bold cryptocurrency move by purchasing 8,888 Bitcoin worth around$735 million.
The latest acquisition brings the firm’s total BTC holdings to a whopping 92,637 tokens, worth approximately $7.69 billion.
Tether’s move confirms the growing crypto recognition as a reserve asset.
That indicates confidence in the market’s future, which bodes well for utility-based projects such as PepeX.
PepeX is a new crypto project looking to democratize the meme coin space with an AI-powered Launchpad ready to challenge Solana’s Pump.fun.
PepeX’s platform embraces transparency while prioritizing users, separating it from meme token insiders hunting retail cash.
Tether’s strategic BTC acquisition
The stablecoin giant has increased its Bitcoin reserves to diversify its investments.
Tether has allocated a massive amount from its profits to accumulate Bitcoin.
The firm announced its BTC purchase decision in May 2023 to reduce dependence on traditional banking and strengthen its financial ecosystem.
Tether uses 15% of realized profits to buy Bitcoin.
Tether’s Bitcoin reserve reflects the firm’s trust in the asset’s long-term potential.
Meanwhile, Tether’s recent accumulation is crucial for various reasons.
First and foremost, it reflects Bitcoin and cryptocurrencies’ growing status as reserve assets.
Also, the massive holdings boost market liquidity, strengthening confidence in digital assets even amid uncertainties.
Furthermore, such a significant purchase could influence BTC’s price movements.
Large-scale institutional purchases might catalyze supply shocks, possibly fueling solid price gains.
Lastly, Tether’s move reflects a dip-buying approach following Bitcoin’s latest dip.
BTC changes hands at $82,008, down from last week’s peak of $88,300.
Michael Saylor’s Strategy made a similar move recently, spending $1.92 billion to buy 22,048 tokens at $86,969 per BTC.
These actions underscore confidence in the market’s future, signaling robust gains in the coming months and years.
With experts forecasting a selective bull season for altcoins, let’s check why PepeX remains a top contender.
Investors flock to PepeX
Besides Bitcoin, PepeX has witnessed massive accumulation from savvy players.
The presale crossed the $1 million mark a week after its debut, confirming robust investor interest.
While most meme tokens rely on hype for growth, often failing to survive in the long term, PepeX prioritizes use cases and fairness.
Its AI-powered meme Launchpad PepeX.fun intends to propel the next meme coin supercycle.
The platform will allow developers and enthusiasts to create and launch tokens without complex tokenomics and coding skills.
Further, PepeX.fun will ensure transparency and fairness.
That will alleviate the ugly phenomenon of insider pumps and dumps, which plague the existing solutions such as Pump.fun.
The AI capabilities allow developers to automate content production, marketing, Dexscreener listings, and community building.
These factors could help PepeX retain its relevance amidst the shifting trends in the meme crypto space.
Will PepeX be the first to hit the psychological price levels that rivals like Dogecoin and Shiba Inu have sought since their inception?
Experts advocate for utility-based cryptos as institutions increasingly join the digital assets bandwagon.
You can visit PepeX’s official website for more details.
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