According to BlockBeats, on June 24, an address spent 16,900 SOL (equivalent to $2.1 million) to acquire 612 million WATER tokens, which accounted for 22.71% of the pool, in the same block where liquidity was added. The address then sold all the WATER tokens for 39,279 SOL (approximately $5 million), making a profit of 22,379 SOL (around $2.9 million). The entire process took less than 20 minutes.
The transaction was monitored and reported by Lookonchain. The rapid sale and profit realization highlight the volatile and fast-paced nature of the cryptocurrency market. The address involved in the transaction has not been disclosed. The WATER token involved in the transaction is part of a larger pool of tokens, of which it constituted 22.71%.
This event underscores the potential for significant gains in the cryptocurrency market, but also the risks involved. The speed at which the transaction occurred suggests that the address was likely using automated trading strategies. However, the specifics of the strategy used and the identity of the address remain unknown.