A mysterious individual has reportedly made an astonishing profit of 812 times their initial investment in just three hours by leveraging the $HULK cryptocurrency. The trader turned 7.1 Solana tokens (equivalent to around $1,200) into 5,753.6 Solana tokens, raking in nearly $978,000 in the process.
Using four new wallet addresses, the person purchased a whopping 19% of the total supply of $HULK, which amounted to 190.2 million tokens. After acquiring these tokens, the insider sold them all, receiving 5,760.7 Solana tokens. This large-scale transaction not only resulted in a significant financial gain for the individual but also had a major impact on the $HULK market.
Following the insider’s massive sell-off, the price of $HULK experienced a drastic drop of over 85%. This sharp decline in price highlights the volatile nature of cryptocurrency markets, where large trades can lead to sudden and significant price swings.
This incident serves as a stark reminder of the risks involved in trading digital assets, where market sentiment can change rapidly due to the actions of a select few individuals.