In the fast-paced world of cryptocurrency trading, whales continue to make waves with their strategic moves. Recent data shared by Lookonchain has revealed interesting transactions by smart investors, which include three altcoins (PEPE, LADYS and GMX) showing their prowess in the market. Here are the details…
Whale bought LADYS
Exnetwork Capital, a leading player in the crypto space, has demonstrated its confidence in LADYS, a promising token with significant investments. About 1 hour and 40 minutes ago, Exnetwork Capital purchased approximately 775 billion LADYS tokens, which equates to an expenditure of 50,000 USDC. The purchase was made at just over $0.00000006454 per token. This move demonstrates Exnetwork Capital’s belief in the potential of LADYS.
Further investigation into Exnetwork Capital’s activities revealed another intriguing acquisition. On May 11, shortly after a tweet from famous entrepreneur Elon Musk, Exnetwork Capital invested 327 USDC to buy 10,000 billion LADYS tokens. Later, the firm sold 34,651 USDC, making a profit of $24,651. This transaction pointed to the impact of social media on the cryptocurrency markets. That is, he emphasized the profitability that can be achieved with well-timed investments.
GMX transactions also attracted attention
Meanwhile, Twitter EmberCN reported on a major transaction involving altcoin GMX. An anonymous giant whale exchanged more than 36,000 GMX tokens for 2.13 million DAI about 9 hours ago. This swap had an immediate impact on the price of GMX on CEX, causing it to drop from $61.4 to $60.2. The whale’s position on GMX was originally purchased on March 14 for an average price of $71.9. However, due to the last trade, the average selling price is currently at $58.3, resulting in a loss of about $500,000. Despite this setback, the giant whale had previously made around $570,000 in profits through strategic transactions involving GMX.
1.33 trillion PEPE sold
Finally, Lookonchain reported the actions of a smart money investor in the Pepe (PEPE) token. In the last 24 hours, this investor has decided to sell his entire holding of 1.33 trillion PEPE tokens. The sale yielded 1,162 Ethereum (ETH) worth approximately $2.11 million with an average selling price of $0.000001595. The timing of this sell-off was appropriate, as CoinMarketCap showed a 9.41 percent drop in the price of PEPE during the transaction to $0.000001546. Also, PEPE has outperformed market leaders Bitcoin (BTC) and Ethereum (ETH) in the past 24 hours, losing 8.30% against BTC and 8.82% against ETH.
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