A recent market development involved a cryptocurrency whale that sent shockwaves through the market by purchasing $PUPS tokens. Before the Bitcoin halving, the major holder bought 8,862 $PUPS tokens, accounting for an investment of $512,000 at a price of $58 per token. This transaction only served to reinforce his status as the largest $PUPS holder on the Solana blockchain.
Whale’s $4.29M Investment Highlights Faith in $PUPS Project
Following the purchase, the major owner now owns 63,024 $PUPS tokens, which are valued at $4.29 million, averaging $68 per token. This purchasing pattern serves as an indicator of how optimistic the whale is about the potential of $PUPS in the landscape.
It is worth mentioning that before making this major purchase, the whale was already interested in several cryptocurrencies. In particular, on April 19th, the whale spent $1.15 million and $2.63 million to buy $boden and $WIF tokens, respectively. The investment allowed to acquire 54,161 $PUPS at the average price of $70 per token. Nevertheless, such a considerable investment in $PUPS and other cryptocurrencies does not prevent the whale from preserving the significant position in $boden and WIF tokens.
Crypto Whale Diversifies Portfolio, Holds over $22M in Tokens
As per LookOnChain, the whale possesses 20 million $boden tokens that cost $16.4 million and 2.22 million $WIF tokens costing $6.1 million. So, the investor does not stake everything on one project or platform, which enables to invest in their development, while staying able to take a position in other potentially profitable investments.
Ultimately, the whale’s actions exemplify the investor’s belief in the promising future of $PUPS. By accumulating the token and ensuring the diversity of its tokens, the whale intends to play on volatility and receive solid returns.
