An altcoin whale has made a huge profit despite not delving into the meme coin market like many other investors.
According to information provided by the on-chain and analysis platform Lookonchain, a whale thought to be affiliated with Manifold Trading managed to multiply $378,000 worth of capital to $35.2 million in 11 months. Manifold is known as an investment firm that works systematically.
It started trading at the beginning of the year
According to blockchain records, the whale, who uses three different addresses, started accumulating Mantra (OM) at the beginning of the year, amassing a total of OM 9.33 million ($378,000) at $0.04 each.
Mantra, a Layer-1 blockchain, offers services for real-world assets (RWA) with a security-first approach. Developed using the Cosmos SDK, Mantra is compatible with IBC, supports CosmWasm, and can scale to handle 10,000 transactions per second.
According to CoinMarketCap data, the OM price has shown an incredible performance over the last year, experiencing a 15,942 percent increase. According to Lookonchain, the whale in question deposited 4 million OM ($15.32 million) into Binance this morning. The remaining 5.33 million OM in his wallet is worth $19.86 million.
Stay tuned.