The trader sold PNUT tokens at a loss and lost a profit of $24.7 million
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Johny Smith
2024/12/03
3 mins read
The story of one trader related to the PNUT token has again attracted the attention of the crypto community. Onchain Lens experts told how an anonymous investor bought 19.4 million PNUT for 8 SOL back in early November, which was only $1,392 at the time of purchase. However, frightened by market fluctuations, he sold his holdings just a few hours later, losing $681. Now these same 19.4 million PNUTs are worth more than $24.69 million.
This case is causing debate among crypto enthusiasts, as success in the world of digital assets often depends on patience and confidence in your investments. The potential profit could have made the trader a dollar millionaire in just a few weeks, but instead he recorded losses. Today, many analysts discuss how emotions influence investment decisions.
Following its listing on Binance, PNUT reached a record $1.48 for a market cap of $1.48 billion. Another meme cryptocurrency, ACT, also set a new high of $0.73 with a market valuation of $730 million. Trading volumes over the past 24 hours are impressive : Trades with PNUT on Binance amounted to $1.253 billion, and with ACT – $754 million.
Notably, Binance continues to develop trading tools, announcing the launch of new HIPPOUSDT and 1000XUSDT futures contracts with leverage up to 75x. These products provide investors with opportunities for speculation, but also increase risks. By the way, HIPPO is a meme token on the SUI blockchain, which is not yet available for spot trading.
The crypto market, especially for new tokens, often exhibits wild swings and investors can miss out on huge opportunities due to fear or lack of faith in the assets. The story with PNUT reminds us how important it is not to panic and carefully think through every transaction.
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