On-chain data shows a trader missed out on $1.3 million in unrealized profits from Bull Token

web3: On-chain data shows a trader missed out on $1.3 million in unrealized profits from Bull Token | Bitget News
Bitget App
Trade smarter
Open
HomepageSign up
Bitget>
News>
web3: On-chain data shows a trader missed out on $1.3 million in unrealized profits from Bull Token

web3: On-chain data shows a trader missed out on $1.3 million in unrealized profits from Bull Token

A new token called “牛来” has recently become popular on-chain. According to blockchain data platform Lookonchain, a trader once bought this token for $148, but after the position increased by about 9 times, sold early, ultimately realizing only $1,430 in profit.

Lookonchain stated that the trader had bought approximately 37.96 million 牛来 tokens. Calculated at subsequent prices, this position once reached about $1.3 million.

However, the address did not continue to hold and chose to sell all positions at an earlier stage. According to Lookonchain, this means they missed out on approximately $1.3 million in potential unrealized gains.

• Initial investment: $148
• Profit after selling: $1,430
• Subsequent peak value: approximately $1.3 million

New token surges sharply within a week

Reports show that 牛来 is a newly launched token, with its name derived from a film of the same name. Due to limited attention at launch, there were not many early participants.

As the price surged rapidly in a short period, a small number of early positions were amplified to extremely high paper values, which also sparked more discussion about the token on social media and among on-chain data communities.

Short-term surge brings high volatility

These types of new tokens typically have limited liquidity, leading to more extreme price volatility. The buying and selling timing of a single address can make a huge difference in the final return.

This trade attracted attention mainly because the extremely low-cost position was rapidly magnified within a few days, once again highlighting the high volatility often seen in new token trading.

Disclaimer: The content of this article solely reflects the author’s opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
Understand the market, then trade.
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.
Trade now！

Source: www.bitget.com