The market value of blockchain is often a false prosperity; a buy order of 3 million can leverage 30 million!
Let's watch today's $vine fomo incident.
A whale funded by @binance bought $pump at a price of 67 twelve days ago.
Then, the next day, he sold at around 57, cutting losses on the pump.
Twelve days later, he took action again, withdrawing a large amount of $sol from Binance and starting the wholesale of $vine.
2.
The price of $Vine pumped from 0.012 all the way to 0.017.
A total expenditure of 3.2 million USD for purchases brought Vine's market cap to 160 million.
Why didn't he buy the $vine contracts on the exchange? Maybe he wants to accumulate more $vine, or perhaps he is also looking for exposure. However, the first purchase of $pump only cost around six to seven hundred thousand USD, but he spent a full 3.2 million USD on $vine.
3.
Compared to $pump, it's harder for large funds to buy into $vine at this stage, as it can cause significant slippage. This means that if any unexpected situation arises, they could lose half of their account. Such situations are more controllable and have more room for error on $pump.
Maybe this whale has some beliefs, or maybe this whale has some insider information.
The insider information here could be from the exchange or from key figures in this narrative; who knows?
4.
Regardless, the whale's purchase has brought better sentiment and exposure to $vine, which currently has a market cap of 150 million. This whale has made a profit of 200,000 USD. I think if he starts selling, this profit will quickly turn into a loss. Regardless, we already have a great start.
Looking forward to more 🐳 whales joining $vine, bringing this vine, which was born at the same time as BTC, back to life, making the true short video OG great again with AI!
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