In a major transaction, cryptocurrency whale “arthurgayes.eth” sold 2 trillion $MOG memcoin for $4.41 million to the Bybit and Gate.io exchanges. This sale occurred a few hours ago as the price of $MOG soared, according to SpotOnChain.
‘arthurgayes.eth’ Still Holds $14M in $MOG After 72x Profit
“arthurgayes.eth” made the first deposit of 8.26 trillion $MOG tokens for 251,000 USDC between September and October 2023. However, the whale has still possession of 6.26 trillion $MOG tokens in three distinct wallets even after such a recent transaction. Just now, one can estimate that their value is around $14 million.
These engagements have generated an approximate gross worth of $18.1M for “arthurgayes.eth.” It is 72 times more which was the initial investment. These incredible moves have attracted a lot of attention in the crypto niche in general, mainly because the digital currency market shows high volatility and rich opportunities for growth.
Crypto Whales Drive Market Instability and Opportunity
Such large transactions come from large holders. These large holders are called whales. They affect the markets and they are therefore always keenly observed by traders and investors.
The transaction carried out by the account “arthurgayes.eth” shows that the cryptocurrency market is full with opportunities to make a profit. At the same time, it reflects the instability that has been caused by actions of market makers like whales.
Early whale “arthurgayes.eth” unloaded the first 2T $MOG ($4.41M) to Bybit & Gateio 7 hours ago as the price soared, according to SpotOnChain. This whale bought 8.26T $MOG with just 251K $USDC in Sep-Oct 2023 and still holds 6.26T $MOG (~$14M) in 3 wallets, making an est. total profit of $18.1M (x72)!
