Trader Who Made $6.9M on BONK Makes His Next Big Move
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.
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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.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
