On November 15th, COINOTAG News reported significant activity in the cryptocurrency market, specifically involving the newly launched DEGEN perpetual contract trading by Binance. According to data from LookIntoChain, a notable whale executed a substantial sell-off, divesting 6.43 million DEGEN tokens for a total of 70.78 ETH, equating to approximately $219,000. This sale follows a strategic accumulation phase, during which the same investor procured 140.71 million DEGEN tokens for 934 ETH, roughly $3.42 million, at an average cost of $0.0243. The whale’s astute trading strategy, involving a hold period exceeding six months, culminated in a realized profit of around $790,000. This transaction highlights the dynamic nature of cryptocurrency trading and underlines the potential for substantial gains in the digital asset space.
Source: https://en.coinotag.com/breakingnews/whale-profit-surge-degen-token-sale-nets-790000-after-binances-new-trading-launch/