A well-known crypto miner recently invested heavily in the $ACT
token, spending a staggering $5.6 million to purchase 17.1 million ACT tokens worth $9.4 million at a price of $0.33 per token.
This major acquisition followed the #announcement by Binance, one of the largest cryptocurrency exchanges, of the listing of ACT. The acquisition by Whaler allowed him to become the largest individual token holder, strategically positioning himself in the ACT ecosystem and potentially influencing future market trends.
Whaling: The whale spent $5.6 million to purchase 17.1 million ACT ($9.4 million) at a price of $0.33 after Binance announced the listing of ACT.
Keith became the largest individual holder of ACT with an unrealized profit of $3.8 million!
But keith lost $590,000 trading ACT earlier.
According to Lookonchain, the investment was likely influenced by Binance's announcement of a token listing, which has historically led to higher prices for newly issued assets. The purchase by kit was made on time, which allowed him to benefit from the increase in token prices. After Binance's announcement, trading activity on ACT increased and prices increased significantly, which allowed the whale to make an unrealized profit of approximately $3.8 million.
The unrealized profit of the "whale" in the amount of $ 3.8 million demonstrates the potential of strategic investments in the cryptocurrency market. By making a massive purchase after Binance's announcement, the "whale" effectively used the dynamics of the market to its advantage. Although the price of the ACT fluctuated, the purchase time at $0.33 per token suggests that the "whale" expected the price of the token to rise after listing, which is a common trend for recently placed assets on major exchanges.
Despite the recent growth, the history of this "whale" with ACT trading has not been profitable. Previous transactions with ACT resulted in the investor losing $590,000. The reasons for these previous losses are still being investigated, but they could have been caused by price volatility, unforeseen market conditions or incorrect trading strategies. However, this setback did not prevent the whale from returning to the market and doubling its assets in ACT.
