• 24/04/2024 09:41

Trader earned $2 million on memcoin, bitcoin miners reduced cryptocurrency reserves: what's new on the market

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Trader earned $2 million on memcoin, Bitcoin miners reduced cryptocurrency reserves: what's new on the market

Trader earned $2 million on memcoin on the Solana network

An unknown trader earned about $2 million on Memcoin on the Solana network. In this case, the user first invested 1 SOL ($62 at that time) into the asset.

On December 5, 2023, a trader purchased 43 million SILLY five minutes after trading opened for the token. The purchase of the asset cost him 1 SOL, and the total amount of funds in the user’s account at that time was only 1.5 SOL.

A few days later, the trader sold 33.34 million SILLY for $528,000. Thus, his cryptogammon has 9.76 million SILLY left. At the time of writing the news, the asset is trading at $0.1271, and the trader still has funds at his disposal in the amount of $1.2 million.

Some social media users believe that this is an insider agreement. In their opinion, the trader could not have made such a successful agreement without access to classified information. At the same time, some users are confident that the developer of the Silly Dragon memcoin is behind the operations with digital assets.

South Korean legislators bought and sold $100 million worth of crypto assets over three years

The Anti-Corruption and Civil Rights Commission of South Korea published a report on transactions with digital assets of members of the country's parliament.

According to available information, the agency checked 298 current legislators regarding agreements in the crypto segment. The audit covered the period from 2020 to 2023.

During this time, members of parliament purchased and sold crypto assets in the amount of 125.6 billion Korean won (over $97 million).

However, the analysis showed that only 18 legislators out of 298 have records related to this industry. Most of the volume of trade agreements comes from the 11 members of parliament.

Bitcoin was the most popular among legislators. However, the records also include 107 other crypto assets with which agreements were made.

Bitcoin miners have reduced cryptocurrency reserves

Since October 2023, Bitcoin miners began to actively reduce the reserves of the first cryptocurrency, according to Glassnode.

During the period from December 27 to December 28, 2023, the companies’ balance decreased by 700 BTC. Over the past 2 months, the reserves of the first cryptocurrency Bitcoin miners have decreased by 12,700 BTC. This happened against the backdrop of an increase in quotes from $30,000 to $44,000, after which the value of the asset faced a correction.

On the social network X (formerly Twitter), an analyst under the nickname Ali believes that the activity of miners may interfere with the “bullish” scenario in the Bitcoin market. It indicates a significant reduction in company inventories, affecting the asset price.

Capriole Investments founder Charles Edwards also confirms that Bitcoin miners are actively selling their assets. Thanks to the recent rally of the first cryptocurrency, companies were able to receive significant income.

At the same time, the co-founder of the company DecenTrader under the nickname Filbfilb believes that the situation with the stocks of Bitcoin miners may soon change. In his opinion, companies will begin to accumulate the first cryptocurrency on the eve of halving.

BIT Mining has found a buyer for the BTC.com mining pool for $5 million

BIT Mining Limited, listed on the New York Stock Exchange stock exchange, announced the sale of the BTC.com mining pool under its control. The buyer was the Hong Kong company Esport – Win Limited.

According to the press release, the transaction value was $5 million. It does not affect other BIT Mining enterprises.

The sale of the business is subject to regulatory approval. The company added that the net operating loss directly for the entire 2022 amounted to $2.6 million.

The company's shares reacted to the news with a decrease of 13%. According to MarketWatch, the current price is $5.15.


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