According to Odaily, an insider has reportedly purchased a substantial amount of SPIKE through multiple wallets. The individual then sold a significant portion of SPIKE in a short period, resulting in a considerable profit.
The insider sold 2.9295 billion SPIKE, which accounts for 29.3% of the total supply. The sale was made for 7056 SOL, equivalent to 1.06 million USD. This transaction indicates a significant movement in the SPIKE market, with a large portion of the total supply changing hands in a short period.
The details of the insider or the reasons behind this substantial purchase and subsequent sale are not known. However, this activity has undoubtedly had an impact on the SPIKE market, with such a large percentage of the total supply being bought and then sold in a short time. The implications of this transaction for the future of SPIKE are yet to be seen.