‘Smart Trader’ Doubles Down on Memecoin Investment, Places Another $536,000 USDT Trade on Fartcoin: Lookonchain
Blockchain intelligence platform Lookonchain is highlighting a trader who has profited handsomely from trading in Fartcoin (FARTCOIN), a memecoin built in the Solana (SOL) ecosystem.
According to Lookonchain, the unidentified trader is once again going long on the crypto asset and has purchased 488,000 Fartcoin at a total price of $563,000.
The trader had previously booked millions of dollars in profits on a Fartcoin position he had invested in earlier when the memecoin was still a micro-cap.
“This trader first aped into Fartcoin when its market cap was $32 million, making $4.9 million by buying low and selling high.”
Fartcoin is trading at $1.15 at time of writing, up by around 178% over the past month, but around 54% below the all-time high reached in January. The Solana-based memecoin currently has a market cap of a little over $1.15 billion.
The blockchain intelligence platform is also highlighting another trader who has enjoyed an uninterrupted winning streak on Fartcoin trades.
“This trader made five swing trades in Fartcoin, each of which was profitable, with a 100% win rate and a total profit of $669,000.”
In the latest trade, the trader has swapped his Fartcoin holdings worth approximately $1.22 million into the Official Trump (TRUMP) memecoin.
Besides memecoin traders, Lookonchain is also highlighting a whale who recently purchased Bitcoin (BTC) and Ethereum (ETH) worth millions of dollars on the trading platform Wintermute.
“It seems that a whale bought 30,000 ETH ($54 million) and 600 BTC ($56.7 million) through over-the-counter (OTC) today.
This whale transferred 54.9 million USDC and 56.94 million USDC to the Wintermute OTC wallet today, then received 30,000 ETH ($54 million) and 600 BTC ($56.7 million) from Wintermute.”
Bitcoin is trading at $94,704 at time of writing, while Ethereum is changing hands at $1,795.
Follow us on X, Facebook and Telegram
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
The post ‘Smart Trader’ Doubles Down on Memecoin Investment, Places Another $536,000 USDT Trade on Fartcoin: Lookonchain appeared first on The Daily Hodl.
