According to Odaily, The Data Nerd reported that six hours ago, the smart money address 0x89b unlocked 37.2 billion FLOKI tokens and deposited them into Gate, equivalent to approximately 1.03 million USD. Four months ago, these tokens were accumulated from Gate at a cost of 101,000 USD. If sold at the current price, the realized profit would reach 900,000 USD, yielding a tenfold return.
This significant move by the smart money address indicates a potential shift in the market dynamics of FLOKI tokens. The unlocking and depositing of such a large number of tokens could influence the token's price and trading volume. However, the exact impact of this action on the market remains to be seen.
It's worth noting that the smart money address has made a substantial profit from this transaction, demonstrating the potential profitability of cryptocurrency investments. However, as with all investments, the level of risk is also high, and investors should always conduct thorough research and exercise caution.