The steady ascent of the PEPE token and new ATHs have enabled a crypto investor to profit by $11.7 million despite selling at a low price.
For years, the PEPE token has led the way in terms of gains among meme currencies. Despite its challenges, the Pepe coin price performance has provided crypto investors with significant rewards. One such investor just made $11.7 million, demonstrating the token’s significant profit potential. Let’s talk about what’s occurring.
Crypto investor made $11.7M with PEPE token’s downtrend
According to Lookonchain, a prominent X analytics portal, a crypto trader achieved extremely high profits on Pepe. Interestingly, all of this occurred during a decrease in the PEPE token, which surprised every reader. The crypto user had been holding millions of this frog-themed currency and sold them when the PEPE price began to fall after reaching its all-time high of $0.00002825 around three weeks ago.
With that, the crypto investor earned $11.7 million in earnings, which might have been more if he hadn’t missed the ATH. Regardless, Pepe’s price success has allowed investors to generate significant gains. Interestingly, he is still accruing PEPE. In the previous week alone, he paid $24.5 million to purchase 1.42T PEPE, continuing his profitable adventure with this frog-themed meme coin.
This smart whale sold all his $PEPE during the market drop on Dec 19, making a total profit of $11.7M on $PEPE!
Over the past 6 days, after the market decline, the whale accumulated 1.42T $PEPE($24.5M) again.
Address:https://t.co/hRajKVY14Rhttps://t.co/AbxrKcG4So pic.twitter.com/zBs91it2jh
— Lookonchain (@lookonchain) December 27, 2024
Surprisingly, he is not the first individual to have earned significant returns with PEPE. Another PEPE trader gained millions by changing $70 into $7M due to the PEPE’s strong price performance.
PEPE token’s bullish returns, price surged 4% today
Pepe Coin has been one of the most successful meme currencies since the beginning of the year, thanks to its consistent increases. With that, he set three all-time highs this year, the most recent being only 19 days ago. However, a downturn began shortly after, sending the PEPE price 35% away, with the stock presently selling at $0.00001829 following a 4% increase in the previous 24 hours.
Interestingly, this coincided with increased investor interest. Previously, the PEPE’s trading volume reached at $2.13 billion, showing strong investor interest and whale buying. Furthermore, technical indications imply a strong purchasing zone, which might boost the PEPE price higher and out of its current downturn.
What’s in there for you?
Given meme-themed cryptocurrency performance this year, many crypto investors have become optimistic, with huge gains. As a consequence, 2024 has become the year of meme coins, which consumers should consider purchasing after doing thorough technical analysis and market research. In today’s scenario, Pepe Coin is gaining traction on the charts after just reaching its all-time high. Now it remains to be seen if the PEPE token will continue to benefit investors or if the PEPE price will suffer during a market downturn.
DeFi proponents to fight US IRS tax code
The Internal Revenue Service of the United States stated that DeFi brokers must follow long-standing securities rules, contradicting industry belief that digital assets should be treated differently.
Updated IRS guidelines issued on December 27 would require some “DeFi brokers” to function like traditional finance institutions, gathering some user activity data and reporting on bitcoin proceeds.
The completed guidelines apply to “front-end” DeFi operators, which are service providers who directly control websites used to access web3 platforms like as decentralized exchanges for both U.S. and international players.
So-called DeFi brokers would be required to report on all digital assets, including NFTs and stablecoins. Aviva Aron-Dine, acting assistant secretary for tax policy, stated that the revamped framework will level the playing field and unify reporting obligations for all taxpayers.
Crypto sector stalwarts have argued that digital assets should not be subject to existing securities regulations, highlighting that the industry requires separate standards. The IRS and the Treasury Department issued a joint statement in which they entirely disagreed with this allegation.
The IRS suggested DeFi/crypto tax reporting standards in August 2023, and new papers to incorporate exchanges in its compliance guideline were issued shortly thereafter. Crypto analysts believe that DEXs like Uniswap may be obliged to share KYC information, such as names and addresses, with regulators.
Last year, industry leaders challenged the agency’s original tax plan, and Consensys senior attorney Bill Hughes thinks it will happen again. “The exiting government isn’t going quietly. “The fight continues,” Hugh remarked via X.
Crypto users expressed worry that most DeFi protocols are incompatible with securities rules, and that privacy would be almost nonexistent under the new regulations.
Digital asset advocacy groups such as The Blockchain Association threatened “aggressive action” against IRS rules, implying that Congressional lobbying and maybe lawsuit might follow. Without objection, the most recent rules would be implemented by January 1, 2027.
Treasury/IRS has finalized their DeFi broker tax reporting rule. Trading front ends would have to track and report on user activity – both US persons and non-US persons- starting in 2027. And it applies to the sale of every single digital asset – including NFTs and even… pic.twitter.com/CtFox668yn
— Bill Hughes : wchughes.eth 🦊 (@BillHughesDC) December 27, 2024
Cardano price struggles to reach $21 – Will this $0.15 competitor overtake in 100 days?
Cardano’s price falls as Rexas Finance emerges as a formidable rival with outstanding development potential and a bright future in 2025.
Cardano’s recent price behavior suggests a potential gap in meeting important cycle benchmarks. ADA is attempting to maintain momentum, battling to reach $21 in this cycle. However, a prospective competitor token priced at only $0.15 is projected to outperform it, maybe reaching the $21 mark in the first 100 days of 2025. This essay discusses the current state of Cardano’s pricing and the reasons why its competitor, Rexas Finance (RXS), may create big rewards.
Cardano price struggles in the market
Cardano is currently trading at $0.8777, a substantial decline from its early November high following Donald Trump’s presidential victory. ADA broke beyond the $1 barrier, reaching a high of $1.3187 on December 3, 2024, but has dropped 33.45% during the current bear market. This deteriorating trend raises concerns about ADA’s capacity to maintain current gains, let alone fulfill its high price targets.
Cardano’s value stagnation demonstrates its weaknesses, since competitors provide more flexible ecosystems and more development opportunities. Given these factors, analysts doubt Cardano’s price will hit $21 this cycle. The bigger market is unclear, and the token struggles to pique new investor interest.
Rexas Finance (RXS): The $0.15 Cardano (ADA) rival
Cardano faces rising hurdles as Rexas Finance (RXS) emerges as a formidable rival with enormous development potential. RXS is now priced at $0.15 during its Stage 10 presale, and it has already shown amazing momentum, with a 5x gain since its inception. The RWA cryptocurrency project has generated more than $30.27 million during its presale, demonstrating great investor trust and interest.
Rexas Finance is changing the blockchain by bridging the real-world and digital economic divide. Its network enables users to easily tokenize actual assets, allowing for fractional ownership and opening up new possibilities for global asset management. RXS provides a comprehensive toolbox, including the Rexas Token Builder and the Rexas Launchpad, allowing individuals and businesses to tokenize assets and generate revenue rapidly.
Rexas Finance is at the forefront of real-world asset (RWA) tokenization, as opposed to ADA, which has struggled to find widespread application outside of its natural home. Its innovative strategy positions it as a formidable rival in the coming months, allowing it to achieve exponential growth and break through substantial pricing barriers.
Rexas Finance (RXS) crossing $21 by early 2025
According to market experts, Rexas Finance (RXS) will profit by 13,900% in the first 100 days of 2025, causing its stock price to rise over $21. This confidence is underpinned by its robust ecosystem, Certik audit certification, and unrivaled tokenization capabilities. Global investors have welcomed the platform’s objective of democratizing asset ownership.
Rexas Finance removes barriers, such as complex legal systems and geographic constraints, by allowing users to tokenize real-world assets like real estate, products, and intellectual property. Its presale success and appeal to both retail and institutional investors stem from its practical utility. Furthermore, Rexas Finance (RXS) maintains confidence in the crypto community by emphasizing security and transparency.
Certik’s audit affirms Rexas Finance’s technological integrity, boosting investor trust. With a clear path forward and strong community support, RXS has established itself as a top prospect for extraordinary 2025 development.
Rexas Finance additionally provides a $1 million raffle prize, further boosting ecosystem participation. With over 579,000 entries, the contest will offer 20 winners $50,000 in RXS tokens. This purposeful endeavor has increased user participation and widened its community base, allowing for continued growth.
Using the platform’s creative environment and swift presale success, this early-stage cryptocurrency wants to gain traction as a worthy replacement for Cardano.
Final thoughts: Cardano price struggles as Rexas Finance rises
While Cardano’s price struggles to sustain pace in the face of market uncertainty, Rexas Finance (RXS) emerges as a rising star with remarkable growth potential. With its novel approach to real-world asset tokenization, great presale performance, and large ecosystem, RXS has established itself as a competitive rival. As Cardano (ADA) struggles to meet its lofty price targets, Rexas Finance’s promising trajectory and ambitious roadmap make it a compelling investment opportunity, poised to deliver impressive returns in the coming months and potentially surpass significant milestones such as $21 by early 2025.
