Users suspecting insider trading, one trader made several hundred thousand dollars with an unidentified token called DizzyHavoc.
Unknown trader earned a profit worth 69.6 ETH (ETHIn a few days, you can spend the equivalent of $225.700 on the new DizzyHavoc token (DZHV). Lookonchain analysts called attention to this situation.
On Feb. 26, the trader spent 0.2 ETH to buy 6.47 million DZHV and sold it for 69.8 ETH.
DZHV was released on Jan. 29 but the trading volume remained small. Within two days, the token’s price jumped by 82%.
At the time of writing, the price of DZHV is $0.06464, down by 16% in the last 24 hours, according to CoinMarketCap. Daily trading volume is estimated to be $17.89million. The coin is currently only traded on the decentralized exchange.DEX) UniswapCoinMarketCap indicates that the token hasn’t been verified.
Due to the ambiguity in the transaction, X Users commented on the Lookonchain Post and suggested that a DZHV Insider or a Developer could be behind the unidentified trader.
Analysts are also becoming more interested in cases where traders have made a fortune on tokens that are not well-known. Another unknown trader took advantage of the hype surrounding the announcement of OpenAI‘s generative neural network for video, Sora. The trader earned Investing only $137 can earn you $176,000
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
Source: crypto.news