Crypto Trader Returns After Ten Months of Inactivity, Making Millions In Market Crash
Release: 2024/07/05 00:04 Reading: 663
Crypto Market Slumps as Sentiment Declines
The crypto market has plummeted, with Bitcoin's price falling to $56,382 and altcoins also experiencing significant losses. The selling pressure has intensified as traders seek to secure gains amid fears of a potential bear market.
Meme coins have suffered the steepest declines, with the market cap dropping by 7.76%. An inactive crypto trader has sold their meme coins, generating a profit of $112K despite the market crash.
Crypto Whale Returns to Market
A crypto whale known as 0x4a2 has returned to the market after a ten-month absence and exchanged 10B PEPE tokens for 32.73 ETH, netting a profit of $112K. The trader has held these PEPEs for a long period and is one of the earliest holders of the token.
Historical Context
The trader has been holding PEPEs since April 14, 2023, shortly after the token's launch. This suggests that PEPE Coin's hype is waning and may not recover anytime soon.
Despite the market downturn, the trader still holds 1.99T PEPE, worth $22.35M. These holdings have yielded a 59,600% return since purchase, resulting in substantial gains even during the market crash.
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