Whale Sells 3 Million Fartcoin, Realizes $8 Million Profit
- Main event involves a whale selling 3M Fartcoin.
- The sale led to a sharp 17% price drop.
- Market sees a surge in trading volume and liquidations.
A major whale with the wallet identifier 24BLFj sold 3 million Fartcoins, valued at $3.65 million, approximately nine hours ago, triggering ripple effects in the crypto market.
The sale caused a rapid 17% price drop in Fartcoin, highlighting volatility in meme coins and raising concerns of further market instability.
A whale identified as 24BLFj recently sold 3 million Fartcoin (FART). The tokens were sold for $3.65 million, marking the event as significant in the Fartcoin ecosystem.
24BLFj bought the Fartcoins at an average price of $0.26 per token. This sale contributes to a market trend in meme-based cryptocurrencies.
The Fartcoin price dropped over 17% within 24 hours following the sale. Daily trading volume surged 68% to $341 million, showing heightened market activity.
“A whale (24BLFj) sold another 3M $FART for $3.65M, having bought 8.89M at $0.26. Realized profit: $8M. Still holds 1.89M $FART.” source
The financial markets are witnessing significant volatility with $12.04 million in liquidations associated with this sale. Meme coin investors are noticing an increased risk factor.
Throughout the market, reactions have been mixed, with some observing a buying opportunity. Others express concerns about instability due to large whale transactions.
In this context, historical trends suggest meme coin sales often lead to further speculative activity. The lack of official response from Fartcoin leaders raises questions about market management.
