Here’s How Crypto Trader Went From $5.2M in Profit to Six-Figure Loss

The crypto market is still battling against the dominance of bears, where a single crypto trader lost nearly six figures under these conditions. The ongoing Donald Trump trade war is leaving an unsettling experience for investors, where losses have become a common practice. Experts have mixed opinions on the long-term impact of such macroeconomic events. In this blog, let’s discuss how this trader lost millions.

Diamond Hand Crypto Trader Loses Against Market’s Volatility

The Crypto trader with wallet address DBzhE is called ‘diamond hand’ due to its profitable trade history. However, things changed this time. According to the Lookonchain X post, the individual purchased 19.14 million LUCE six months ago at an average price of $0.0275 and has been holding it ever since.

Interestingly, in this span, the holding worth peaked multiple times, bringing an unrealized profit of $5.2M at the peak. However, that changed as the LUCE token price crashed more than 75%. This left the crypto investor with a heavy loss of $335k, and six figures down from the peak profit point.

Why Did LUCE Token Crash 75% Today?

Like most crypto tokens in the current scenario, the LUCE token also became the victim of the crypto investors’ sentiments influenced by the Trump trade war. LUCE is a meme coin and thrived on hype, but when the investors’ sentiments shifted, it resulted in a massive 75% correction.

Due to bears’ dominance, the volatility in the crypto trading market is high. In this case, experts like TDDMM claim LUCE had low liquidity and high volume due to high sellers and low buyers, resulting in the price crash.

More importantly, the LUCE token faced delisting from top crypto exchanges, resulting in its 75% crash today. Due to the same, the aforementioned crypto trader lost a significant profit.

LUCE meme coin currently trades at $0.009146 with a market capitalization of $9.26 M. With the sell-off, now it stands 97.11% from its prime of $0.3273, set five months ago per CoinMarketCap.

✓ Share:

Pooja Khardia

With a deep-seated passion for reading and five years of experience in content writing, Pooja is now focused on crafting trending content about cryptocurrency market.

As a dedicated crypto journalist, Pooja is constantly seeking out trending topics and informative statistics to create compelling pieces for crypto enthusiasts. Staying abreast of the latest trends and advancements in the field is an integral part of her daily routine, fueling a commitment to delivering timely and insightful coverage

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.