Whale Profit Surge: DEGEN Token Sale Nets $790,000 After Binance’s New Trading Launch

On November 15th, COINOTAG News reported significant activity in the cryptocurrency market, specifically involving the newly launched DEGEN perpetual contract trading by Binance. According to data from LookIntoChain, a notable whale executed a substantial sell-off, divesting 6.43 million DEGEN tokens for a total of 70.78 ETH, equating to approximately $219,000. This sale follows a strategic accumulation phase, during which the same investor procured 140.71 million DEGEN tokens for 934 ETH, roughly $3.42 million, at an average cost of $0.0243. The whale’s astute trading strategy, involving a hold period exceeding six months, culminated in a realized profit of around $790,000. This transaction highlights the dynamic nature of cryptocurrency trading and underlines the potential for substantial gains in the digital asset space.