Crypto Trader Made $6M Profit With MANTRA Trading

A recent report by the on-chain analytics platform The Data Nerd showed that smart money, identified by the wallet address “0xdc2”, has deposited 600K OM tokens to Binance.

A crypto trader has made a massive profit trading MANTRA, catching the attention of investors. According to reports, the trader has witnessed an estimated gain of more than $6 million, with OM price witnessing a slight dip during writing.

However, the massive dump by the investor has sparked speculations over a further dip in the crypto’s price, while many anticipate otherwise looking at the current broader market trends.

Crypto Trader Made $6M Profit With MANTRA Trading

A recent report by the on-chain analytics platform The Data Nerd showed that smart money, identified by the wallet address “0xdc2”, has deposited 600K OM tokens to Binance. The transfer was valued at around $2.53 million, according to the report citing Arkham Intelligence data.

This massive transaction by the crypto trader has caught the eyes of investors. Besides, the market participants have also shifted their focus amid the recent gains in MANTRA price. Notably, the report notes that on June 6, 2023, the smart money withdrew 1.489 million OM from the same top crypto exchange. His entry was at an average of $0.026 per token.

Meanwhile, the whale has sold the 600K tokens at the current price now, witnessing a profit of $2.49 million or a return of 64X. Besides, his current holdings indicate his total estimated profit at $6.28 million or a return on investment (ROI) of 161X.

This massive profit booking by the trader has discussions in the broader crypto market. Crypto investors often use the opportunity of soaring prices to book profit, but it also fuels concerns over a potential dip ahead for the asset.

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