A significant cryptocurrency whale has reportedly made a remarkable 5,000% profit on a trending altcoin, according to Arkham Intelligence.
The trader, operating under the name trezor538, has earned $28 million from his investment in Virtuals Protocol (VIRTUAL).
Notably, the whale has held onto these tokens since February. However, recent activity shows that the trader transferred $500,000 worth of VIRTUAL tokens to the MEXC exchange within the last three months.
Had these tokens been sold at current prices, the trader would have netted an additional $10 million.
Virtuals Protocol, which currently holds a market capitalization of $3.49 billion, remains unlisted on major exchanges like Binance and Coinbase.
The token, which revolves around artificial intelligence, recently achieved its all-time high, reaching $3.49 per token.
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Ethereum transaction fees have plummeted to just $0.41, marking their lowest point in four years.
Binance, one of the largest cryptocurrency exchanges, is set to remove several spot trading pairs as part of its routine market evaluations.
Ripple’s regulated stablecoin, RLUSD, has surpassed a total supply of $120 million, marking a significant milestone.