$21M Loss After Re-Bet on TRUMP
Date: 2025-02-05 Author: Gabriel Deangelo Categories: CRYPTO PAYMENTS
A major holder of the Official Trump (TRUMP) meme token made $11.8 million in January, but his holdings depreciated significantly in February, and he lost $21 million. Lookonchain analysts pointed to this case as an example of the high volatility of the cryptocurrency market.
On January 18, a trader purchased 860,895 TRUMP for 12 million USDC at a price of $13.94 per coin. He quickly sold these assets, locking in a profit of $11.8 million, selling at a price of $27.67 per coin. However, later, deciding to invest in the token again, he purchased 766,083 TRUMP for $33.9 million, when the price was $44.25 per coin. Unfortunately, after the token's price plummeted in early February, the trader suffered losses of $21 million, including the loss of all his profits and over $9 million in initial investments.
The situation was aggravated by the sharp drop in cryptocurrency prices in early February. On the 3rd, there was a major correction in the market, which led to a decrease in the price of TRUMP by 75% from its maximum.
At the same time, Arkham analysts report that 10 million USDC was withdrawn from the Binance exchange on February 4. These funds were then converted through the Jupiter DEX into 6.68 million MELANIA, which made the owner of the new wallet the tenth largest holder of this meme coin (~0.67% of the total issue).
