Crypto Billionaire Andrei Grachev Rumored to Invest in This Altcoin: Insights and Analysis

  • Andrei Grachev, the founder and CEO of controversial market-making company DWF Labs, is reportedly planning to purchase a significant amount of an altcoin, according to onchain data provided by crypto data provider Spot on Chain.
  • A crypto wallet known as 0x3a2, which previously sold Prom (PROM) to Grachev, has purchased an additional 112,000 PROM, equivalent to $1.12 million, on Binance.
  • This purchase was made at an average price of $9.95 per PROM, according to the data.

Andrei Grachev, CEO of DWF Labs, is speculated to be preparing for a large altcoin purchase, based on recent onchain data. The crypto wallet previously linked to Grachev’s PROM purchases has acquired an additional 112,000 PROM on Binance.

Previous Transactions Linked to Grachev

Spot on Chain reports that this same wallet was used in December 2023 to purchase 52,900 PROM on Binance at an average price of $4.86, totaling $257,000. The 0x3a2 wallet then used another wallet, 0x3d1, as an intermediary to sell these PROM tokens to Grachev for 500,000 USDT.

Impact on PROM’s Market Value

This trade occurred in February of this year, with Grachev purchasing 49,965 PROM. This purchase coincided with a roughly 75% increase in the token’s price. At the time of writing, PROM is trading at $9.81, reflecting a 2.29% decrease in the last 24 hours.

Conclusion

While the data suggests a potential large-scale purchase by Grachev, it is important to note that these transactions and their impact on the market value of PROM are speculative. Investors should conduct thorough research and exercise caution when dealing with altcoins. This information should not be taken as investment advice.

BREAKING NEWS

Trump Pardons Binance Founder CZ, Declares Him Innocent and a Victim of Biden Administration Persecution

Market participants are calibrating expectations around the evolving regulatory...

Bitcoin Dormant Wallet Reawakens After 14 Years with 4,000 BTC Worth $442 Million

COINOTAG News reported on October 24, citing Whale Alert,...

A dormant address containing 4,000 BTC (442,256,951 USD) has just been activated after 14.3 years (worth 67,724 USD in 2011)!

A dormant address containing 4,000 BTC (442,256,951 USD) has...

KALSHI INC . RAISES $294.5M OFFERING $390M : FORM D – BBG

KALSHI INC . RAISES $294.5M OFFERING $390M : FORM...

Binance CEO Richard Teng Praises CZ’s Pardon and Charts Global Drive to Make Cryptocurrency More Accessible

COINOTAG News relays a public note from Binance CEO...

Trump Sanctions on Rosneft and Lukoil May Intensify Russia’s Economic Strain

US sanctions on Russian oil giants Rosneft and Lukoil...

U.S. Denies Quantum Equity Talks, Yet IonQ and Rigetti Shares Climb on Speculation

The U.S. Commerce Department has denied engaging in talks...

US Considers Quantum Investments to Counter China as Bitcoin Encryption Risks Loom

The US government is exploring direct investments in quantum...

BNB and Trump-Linked Tokens Gain After CZ’s Reported Pardon

President Trump pardoned Binance founder...

Intel Beats Q3 Revenue Forecast Amid PC Demand Recovery and Nvidia Partnership Prospects

Intel's Q3 revenue reached $13.65 billion, exceeding analyst expectations...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img