A wallet linked to crypto trader GCR transferred 1.068M TRUMP tokens ($8.82M) to BTSE, earning over 15x profit in a series of strategic moves on the back of reports on Donald Trump’s assassination attempt.
A wallet suspected to belong to the renowned crypto trader “Gigantic-Cassocked-Rebirth” (GCR) has made headlines with a series of significant transactions involving TRUMP tokens.
The transfers, totaling 1.068 million TRUMP tokens valued at$8.82 million, were executed between 18:47 yesterday and 02:44 today UTC+8. According to Colin Wu, the Chinese reporter, these actions have resulted in an impressive profit of over 15 times the initial investment.
According to Arkham, the address marked as suspected GCR: 0x4A…1323 transferred 1.068 million TRUMP (worth about $8.82 million) to BTSE Exchange Deposit in three times between 18:47 yesterday and 2:44 the next day UTC+8, making a profit of more than 15x. https://t.co/UI5aFjQsU5
— Wu Blockchain (@WuBlockchain) July 15, 2024
Diving Into GCR’s Activity
GCR, known for its elite trading performance and successful predictions, is a prominent figure in the crypto community. The address in question, suspected to be linked to GCR, transferred TRUMP tokens to the BTSE Exchange Deposit in three separate transactions.
The first transfer involved 683,298 TRUMP tokens worth $5.40 million. The second transfer moved 287,100 TRUMP tokens valued at $2.45 million. The third transfer, 20 hours ago, included 98,010 TRUMP tokens worth $913,450. These transactions collectively amount to 1.068 million TRUMP tokens, demonstrating a rather strategic move by the suspected GCR address.
Deposits Into MAGA-related Address
Additionally, this wallet transferred smaller amounts of TRUMP tokens to a MAGA-related address. These transfers included 6,902 TRUMP tokens worth $54,530, 2,900 TRUMP tokens valued at $24,770, and 990 TRUMP tokens worth $9,230.
According to other reports by Spot On Chain, another wallet, tagged as “GCR: Address 1” (0x321), holds 936,279 TRUMP tokens, currently valued at $7.05 million.
It is important to note that TRUMP is a meme coin inspired by Donald Trump, the 45th president of the United States. Despite not being officially affiliated with or endorsed by Trump, the token has garnered attention due to its association with his persona and political activities. The token’s value fluctuates based on market sentiment and events related to Trump.
As It Stands
The large-scale transactions and substantial gains demonstrate the high-stakes strategies employed by elite traders in the volatile crypto market. However, questions arise regarding the potential reasons behind these transfers.
The price of MAGA (TRUMP) has experienced significant fluctuations. Currently, the token is priced at $7.69, with a 24-hour trading volume of $33,297,720, marking a -2.98% decline in the last 24 hours.
The highest price recorded for MAGA (TRUMP) was $17.51 on June 1, 2024, making the current price 55.83% lower than the all-time high. This volatility reflects the token’s sensitivity to events related to Trump’s political activities. Specifically, Donald Trump recently escaped an assassination attempt, leading to increased volatility among Trump-themed meme coins.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
