The whale (the big wallet) accumulated approximately 3.806 billion PUMP tokens gradually between September 12 and November 4, primarily from the Binance platform, at an average price of around $0.00513 per token, for a total cost exceeding $19.5 million.
He then transferred the entire quantity to the FalconX platform to sell it, where its value at the time of sale was only about $7.3 million, resulting in a realized loss of over $12 million.
At that time, the price of PUMP was trading at an average of $0.00167, and the token has decreased by 71% over the past 90 days, and by 12% in the last 24 hours, making it one of the worst-performing coins among the top 100 cryptocurrencies.
This event reflects a general weakness in the cryptocurrency market, especially meme coins and speculative assets, with the global market capitalization of cryptocurrencies decreasing by more than 3%.
Similarly, the market witnessed another whale exit from Ethena (ENA) with significant losses after a long-term holding.
@Binance Square Official $PUMP
