Trader Who Made $6.9M on BONK Makes His Next Big Move
![Trader Who Made $6.9M on BONK Makes His Next Big Move](https://coinspress.com/wp-content/uploads/2023/03/market-downtrend-222-915x600.webp)
A prosperous investor, who amassed significant wealth trading Bonk (BONK), has recently shown renewed interest in the cryptocurrency scene, particularly in the rival of Dogecoin (DOGE), as indicated by on-chain data.
Information from blockchain tracking entity Lookonchain reveals a seasoned BONK trader’s recent move, where they acquired over three billion BONK tokens. This individual, previously realizing about $6.9 million in profits from BONK transactions, made a strategic investment of 386 SOL ($40,000) to secure 3.29 billion BONK during the most recent transaction on Tuesday.
Over the course of nine months, this investor had accumulated a substantial 371.4 billion BONK, spending only 6,998 SOL ($276,000). Noteworthy is the fact that during a previous surge in BONK’s value, the trader sold off half of their holdings, netting 50,139 SOL ($5.2 million).
At present, Bonk is valued at $0.0000138, reflecting an increase of over 13% in the past 24 hours.
Lookonchain has also observed notable movements in Wrapped Bitcoin (WBTC) holdings by prominent entities.
READ MORE: Turkey Introduces New Crypto Rules
The analytics firm notes that one significant player swiftly liquidated their WBTC holdings, capitalizing on a sudden price rally and generating more than $5 million in profit.
A substantial whale strategically offloaded WBTC holdings as the price experienced a sudden surge. Successfully selling 355 WBTC for 15.9 million USDT at $44,875 this week, this move resulted in a considerable profit of approximately $5.6 million.