In a matter of hours, several wallets have made significant gains from the token $3AC, with profits exceeding $60,000 per wallet.
Many of these wallets were recently created and have already offloaded most of their holdings, capitalizing on the rapid price surge.
đš $3AC: Top 1 in Tokens Accumulated by Smart Money
In less than 12 hours, many wallets made significant profits from $3AC, with over $60k per wallet. Most of these were fresh wallets and have nearly sold all their tokens now.
Moreover, according to @bubblemaps, '80% of the⊠pic.twitter.com/fJGIzdLAN1
â iCrypto | Sentiment & On-chain Analysis (@iCryptoAI) September 28, 2024
A closer look at the tokenâs distribution reveals a concerning trend. According to blockchain analytics firm @bubblemaps, 80% of the $3AC supply is held within a single cluster of wallets, raising red flags about the tokenâs centralization. This kind of concentration is often viewed as risky, making it essential for investors to exercise caution and manage their exposure wisely.
3AC'S SU ZHU PROMOTES NEW MEME COIN FUND '"THREE ARROWZ CAPITEL"
Su Zhu, co-founder of the collapsed hedge fund 3AC, appears to be promoting a new project called "Three Arrowz Capitel."
An upcoming Twitter Space is planned to reveal more details about the project.
Source: Su⊠pic.twitter.com/bp0kZ4erxr
â Crypto Briefing (@Crypto_Briefing) September 27, 2024
Interestingly, Su Zhu, the co-founder of the now-defunct hedge fund Three Arrows Capital (3AC), is reportedly linked to a new venture dubbed âThree Arrowz Capitel.â More information about the project is expected to surface during an upcoming Twitter Space, which has piqued the curiosity of the crypto community.
Notable investor Machi Big Brother (@machibigbrother) made headlines when he purchased 3.28 million $3AC tokens, spending 125 ETH (roughly $336,800) at an average price of $0.1028 per token. In just 7 hours, Machiâs $3AC holdings generated an impressive 561 ETH ($1.5 million) in profit.
Machi Big Brother(@machibigbrother) spent 125 $ETH($336.8K) to buy 3.28M $3AC(by @zhusu) at an average price of $0.1028. #3AChttps://t.co/rehOcePKqm pic.twitter.com/AcdvTkqxxU
â Lookonchain (@lookonchain) September 28, 2024
Another savvy trader spent 238 ETH ($641,500) to buy 28.03 million $3AC when trading first opened. This trader later sold 24.95 million tokens for 799 ETH ($2.15 million), netting a substantial profit of 561 ETH ($1.5 million) while still holding 3.08 million $3AC, worth approximately $369,000.
Made 561 $ETH($1.5M) in just 7 hours! #3AC
This sniper spent 238 $ETH($641.5K) to snipe 28.03M $3AC the first time $3AC opened trading.
Then sold 24.95M $3AC for 799 $ETH($2.15M).
This guy made 561 $ETH($1.5M) and still holds 3.08M $3AC($369K).https://t.co/dxpwmsMXHM pic.twitter.com/RfEP3Nclvx
â Lookonchain (@lookonchain) September 28, 2024
As the token continues to attract smart money, investors should stay alert and monitor market conditions closely.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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