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Whale 0x9324 Acquires 1.06B PUMP Tokens and Establishes 3x Long Position

BlockBeats reported on August 5 that Lookonchain data shows a whale executed spot trades worth $3.28M and initiated a 3x leveraged long on 594M tokens within four hours.

Summary

According to BlockBeats, based on Lookonchain data from August 5, a whale purchased 1.06 billion PUMP tokens valued at approximately $3.28M and opened a 3x leveraged long position on 594 million tokens worth about $1.83M in a four-hour span.

Terms & Concepts
  • PUMP Tokens: Digital assets traded within cryptocurrency markets.
  • 3x long position: A leveraged trading strategy that multiplies exposure to an asset's price movement by three times.
  • Spot trades: Transactions executed for immediate settlement without the use of leverage.