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Cryptocurrency News Articles

Crypto Trader Who Made $11.4M Profit from Pepe and Uniswap (UNI) Transfers $8.38M Worth of 5 Tokens to Binance

Jun 14, 2024 at 04:30 am

A cryptocurrency trader who previously made a $11.4 million profit from trading Pepe (PEPE) and Uniswap (UNI), has made a strategic move by depositing $8.38 million worth of tokens to Binance.

Crypto Trader Who Made $11.4M Profit from Pepe and Uniswap (UNI) Transfers $8.38M Worth of 5 Tokens to Binance

A crypto trader who earlier made a staggering $11.4 million profit by trading Pepe (PEPE) and Uniswap (UNI) has now deposited a total of $8.38 million worth of five tokens into Binance, as revealed by Spot On Chain. The trader made this move by capitalizing on the local price peaks for each of the tokens involved.

The trader's diverse token portfolio includes the following:

This strategic move by the trader showcases their ability to adapt to the market and capitalize on favorable conditions. By depositing these tokens into Binance at local price peaks, the trader may be aiming to secure profits, diversify their holdings, or prepare for future trading opportunities.

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The trader's recent success follows their earlier achievement of generating a $11.4 million profit from trading Pepe (PEPE) and Uniswap (UNI). Pepe has experienced a surge in interest and value, while Uniswap has been a consistently strong performer in the DeFi space.

The transfer of such a large amount of tokens to Binance may have an impact on the market. Being one of the world's largest cryptocurrency exchanges, Binance's trading volumes and liquidity can influence asset prices. The trader's decision to move their tokens to Binance could potentially indicate their intention to sell, which may create short-term selling pressure on the mentioned tokens.

Check out more: Ripple (XRP) Poised for Potential Vertical Rally as Retracement Nears Completion

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Other articles published on Nov 22, 2024