On-chain data has revealed major transactions that have attracted attention in the cryptocurrency market.
PumpFun continues to buy back its own altcoin, the PUMP token. The company purchased PUMP by transferring $5.6 million worth of SOL to a new address. A total of $6.68 million worth of PUMP was bought back through this address, $5.72 million of which was transferred to the Squads Vault.
Additionally, two newly created wallets withdrew a total of 10.98 million SYRUP from Binance, approximately $5.4 million worth. It’s believed the transactions may be related to the same asset.
A crypto whale, who has been dormant for a long time, deposited 1,383 ETH ($5.39 million) into the MEXC exchange after an eight-month hiatus. This investor initially withdrew 2,768 ETH ($6.45 million) and currently holds 1,384 ETH ($5.39 million). A total profit of $4.32 million is estimated.
Another whale sold 1.11 billion PUMPs, earning 21,763 SOL ($3.79 million) and deposited these assets on Binance. This transaction yielded a profit of approximately $362,000.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/developers-made-heavy-buybacks-of-their-own-tokens-in-this-altcoin-onchain-data-revealed/