Whale Dumps Entire TRUMP Position for $24,400,000 Loss During Price Crash: Lookonchain
A crypto whale is booking millions of dollars in losses after a long position on the Official Trump (TRUMP) turned against him, onchain data reveals. According to blockchain tracking platform Lookonchain, the whale liquidated his position in the TRUMP memecoin at a loss of $24.4 million. The blockchain-tracking platform says the whale acquired 763,582 TRUMP tokens about a month ago at a price of $33.9 million but has now sold the stash at approximately $9.48 million. Per Lookonchain, the whale had previously turned a profit on the memecoin before the loss-making trade. “This whale had already made $11.8 million on TRUMP before. After tasting success, he spent another $33.9 million to buy TRUMP. However, after his purchase, TRUMP kept dropping. After holding for a month, he capitulated—losing not only all his profits but also $12.6 million of his initial capital.” Source: Lookonchain/X TRUMP is trading at $13.06 at time of writing, down by around 8...