tldr; A major holder of Pump.fun’s PUMP token sold their entire 3.8 billion token stack to FalconX, incurring a $12 million loss (-62%). PUMP has dropped 71% in 90 days and 12% in 24 hours, making it one of the worst-performing tokens. The whale had accumulated the tokens between September and November at an average price of $0.00513, but sold at $0.00167. Similarly, another whale exited Ethena (ENA) at a significant loss, as ENA has fallen 67% in 90 days. The crypto market continues to struggle, with meme coins and speculative assets hit hardest.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Otherwise-4PM on
This brings some comfort regarding my rather small unrealized loss, but it also makes me worry about what lies ahead of us.
ZealousMulekick on
Surprising nobody — the PUMP token is a huge scam
The founders accrued this massive $2B treasury from fees and token sale, which they’re probably using to pay themselves an annual dividend
Imagine: they can put spread the treasury across TBills, CLOs, ETFs and hedge fund LP positions and get 6-15% APY on the whole treasury, while paying themselves 2-4% annual dividends out of it. This is the current playbook
Azuras_Dawn on
a dump fun moment
CaptainAGame on
This is the most crypto thing ever said
dino-delicious on
And so it begins
Sleep_Potential on
This is why day trading crypto is the way.
There’s too much incertainty regarding hodling altcoins
Agile-Comedian4739 on
I wouldn’t buy 1$ of pump token if I had 1 billion$
9 Comments
tldr; A major holder of Pump.fun’s PUMP token sold their entire 3.8 billion token stack to FalconX, incurring a $12 million loss (-62%). PUMP has dropped 71% in 90 days and 12% in 24 hours, making it one of the worst-performing tokens. The whale had accumulated the tokens between September and November at an average price of $0.00513, but sold at $0.00167. Similarly, another whale exited Ethena (ENA) at a significant loss, as ENA has fallen 67% in 90 days. The crypto market continues to struggle, with meme coins and speculative assets hit hardest.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
This brings some comfort regarding my rather small unrealized loss, but it also makes me worry about what lies ahead of us.
Surprising nobody — the PUMP token is a huge scam
The founders accrued this massive $2B treasury from fees and token sale, which they’re probably using to pay themselves an annual dividend
Imagine: they can put spread the treasury across TBills, CLOs, ETFs and hedge fund LP positions and get 6-15% APY on the whole treasury, while paying themselves 2-4% annual dividends out of it. This is the current playbook
a dump fun moment
This is the most crypto thing ever said
And so it begins
This is why day trading crypto is the way.
There’s too much incertainty regarding hodling altcoins
I wouldn’t buy 1$ of pump token if I had 1 billion$
Oh wow, anyway, happy holidays everyone!