The top five holders of $RCH collectively possess 2.387 million tokens, valued at $7.71 million, accounting for 9.55% of the total supply.
These holders have an average buying price of $0.88 per token, translating to an impressive unrealized profit of $5.6 million.
The top 5 holders of $RCH hold a total of 2.387M $RCH($7.71M), 9.55% of the total supply.
Their average buying price was $0.88, with an unrealized profit of $5.6M.https://t.co/f5W98KhkKP pic.twitter.com/ld183GfrQU
— Lookonchain (@lookonchain) June 8, 2024
A recent on-chain report from Lookonchain sheds light on a notable transaction by a sniper, who paid a tip of 72.24 ETH ($275.5K) to secure the first purchase of $RCH.
This strategic move allowed him to acquire 7.42 million $RCH, representing 29.7% of the total supply, at a total cost of 392.24 ETH ($1.5M). The sniper later sold his holdings for 719.4 ETH ($2.74M), realizing a profit of 327 ETH ($1.25M).
How did a sniper make $1.25M in just 1 hour?
A sniper paid a tip of 72.24 $ETH($275.5K) and successfully sniped the token $RCH first.
He bought 7.42M $RCH(29.7% of the total supply) with a total cost of 392.24 $ETH($1.5M)and sold for 719.4 $ETH($2.74M), realizing a profit of… pic.twitter.com/IuR8TaEfsh
— Lookonchain (@lookonchain) June 7, 2024
If Held, $RCH Profit Would Have Hit $23.5 Million
Interestingly, if the sniper had held onto his 7.42 million $RCH, the profit would have skyrocketed to over $23.5 million based on current valuations. This scenario underscores the dynamic nature of the cryptocurrency market, where timing and strategic decisions can lead to substantial gains or missed opportunities.
If the sniper had not sold his 7.4M $RCH, the profit would have exceeded $23.5M now!https://t.co/bU0twKi1ZU pic.twitter.com/BM5JxxCa2K
— Lookonchain (@lookonchain) June 8, 2024
The significant holdings and transactions by both the top $RCH holders and the sniper highlight the token’s volatility and the potential for high returns. These activities also emphasize the importance of strategic buying and selling decisions in maximizing profits within the crypto market.
As $RCH continues to capture attention, market participants will likely scrutinize the actions of large holders and early investors to gauge future trends.
The sniper’s story, in particular, serves as a compelling example of the high-stakes opportunities in the cryptocurrency space, where early and strategic moves can result in significant financial outcomes.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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