Key Points
- A crypto dealer made $56 million on PNUT amidst the coin’s rising reputation.
- PNUT’s worth rally was triggered principally by Musk’s assist and Binance itemizing.
A crypto dealer made spectacular positive aspects on PNUT, amidst the rising reputation of the memecoin.
On-chain information revealed by Lookonchain reveals the dealer’s transactions and the way he ended up making over $56.6 million from the well-known memecoin.
Largest PNUT Holder, Over $56 Million in Gains
Lookonchain analyzed the dealer’s current transaction historical past earlier than and after PNUT which led to gaining spectacular quantities of cash.
Trading GOAT
On-chain information reveals that the dealer began buying and selling memecoins on October 16, and the primary coin he purchased closely was GOAT.
His efficiency with this memecoin was not too notable as a result of he usually offered at low costs. However, he nonetheless holds 2.92 million GOAT value nearly $2.8 million, making a revenue of over $574,600.
Trading FLAVIA
The dealer additionally purchased FLAVIA at a excessive worth out of FOMO, making a standard mistake. He reportedly invested $1.86 million, however solely acquired again $303,000, shedding $1.55 million.
Trading PNUT
On November 2, when Elon Musk tweeted about Peanut the Squirrel, the worth of PNUT skyrocketed, and the dealer determined to purchase the memecoin as properly.
He solely invited $15,500 in PNUT, and offered it shortly, making a small revenue of round $1,500.
After doing extra analysis on PNUT, from November 3 to November 10, the dealer invested round $2.8 million to build up a considerable amount of the memecoin.
He didn’t begin promoting some income till Binance introduced the itemizing of PNUT on November 11. On-chain information reveals that he presently holds 26.72 million PNUT value over $56 million, which makes the dealer the biggest particular person holder of PNUT.
Buying FRED
In the previous few days, the dealer spent $671,000 to purchase FRED having an unrealized revenue of $1.24 million.
Overall the person traded 39 tokens and solely 9 of them had been worthwhile, having a win charge of 23%.
He discovered essential classes from his shedding trades, and he made his vital income solely from PNUT and FRED, a memecoin on Tron.
PNUT has seen a formidable worth efficiency, principally supported by Musk’s tweets about Peanut the Squirrel and Binance’s current itemizing of the memecoin.
At the second of writing this text, PNUT is buying and selling at $1.81, up by nearly 40% up to now 24 hours. The coin has a market cap of just about $1.8 billion.
