PERP, the native token of Perpetual Protocol, is one of the top-performing assets, looking at price action in the past 48 hours. As of September 6, the token is changing hands at $0.78, adding roughly 90% from August 2023 highs.
Amid this stellar performance, reports reveal that the Perpetual Protocol Foundation has transferred 903,000 PERP worth approximately $691,000 to Binance, the world’s largest cryptocurrency exchange by trading volumes and client count.
PERP Ripping Higher After Dumping In Q2 2023
According to Lookonchain, a blockchain analytic platform, the wallet associated with the foundation has been regularly moving tokens to Binance in the past few months, starting from March. At that time, PERP was trading at a relatively higher price, at around $1, looking at trackers like CoinMarketCap. Since then, however, the token has been on a downtrend.
To illustrate, after peaking at about $1.22 in early March, PERP tanked by over 65% to $0.38 in June. A marginal increase
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