Alleged Insider Sells BEAM During Pump After Upbit Listing

Whale 0x85f executed a strategic sale of 6.234 million BEAM ($212K) for 175K USDT and 10 ETH at an average price of $0.03407 approximately 7 hours ago.

Profit and Trading Analysis

This whale currently has an estimated total profit of $145K (+15.9%) from BEAM within just 3 days, exhibiting potentially insider trading patterns:

Wallet Creation:
The wallet was created only 3 days ago, on May 28, 2024.Initial Fund Withdrawals: The whale withdrew 90.34 ETH and 750K USDT from Coinbase immediately after creating the wallet.

BEAM Acquisition:
On May 28 and 29, 2024, the whale swapped 90.34 ETH and 575K USDT (total: $911K) for 32.26 million BEAM at an average price of $0.028.

Recent Sale:
Following a 20% price surge in the last 24 hours due to the BEAM/KRW trading pair being listed on Upbit, the whale sold 6.234 million BEAM ($212K) for 175K USDT and 10 ETH at an average price of $0.03407.

Current Holdings:
The whale now holds 26.13 million BEAM valued at $844K.

Speculations

Given the rapid and well-timed transactions, it is speculated that the whale might have insider information.

Address:
0x85f88aec46c4c1dca4898ef9ce0e69a013eef0bb