‘Smart Trader’ Doubles Down on Memecoin Investment, Places Another $536,000 USDT Trade on Fartcoin: Lookonchain

Blockchain intelligence platform Lookonchain is highlighting a trader who has profited handsomely from trading in Fartcoin ( FARTCOIN ), a memecoin built in the Solana ( SOL ) ecosystem.

According to Lookonchain, the unidentified trader is once again going long on the crypto asset and has purchased 488,000 Fartcoin at a total price of $563,000.

The trader had previously booked millions of dollars in profits on a Fartcoin position he had invested in earlier when the memecoin was still a micro-cap.

“This trader first aped into Fartcoin when its market cap was $32 million, making $4.9 million by buying low and selling high.”

Fartcoin is trading at $1.15 at time of writing, up by around 178% over the past month, but around 54% below the all-time high reached in January. The Solana-based memecoin currently has a market cap of a little over $1.15 billion.

The blockchain intelligence platform is also highlighting another trader who has enjoyed an uninterrupted winning streak on Fartcoin trades .

“This trader made five swing trades in Fartcoin, each of which was profitable, with a 100% win rate and a total profit of $669,000.”

In the latest trade, the trader has swapped his Fartcoin holdings worth approximately $1.22 million into the Official Trump ( TRUMP ) memecoin.

Besides memecoin traders, Lookonchain is also highlighting a whale who recently purchased Bitcoin ( BTC ) and Ethereum ( ETH ) worth millions of dollars on the trading platform Wintermute.

“It seems that a whale bought 30,000 ETH ($54 million) and 600 BTC ($56.7 million) through over-the-counter (OTC) today.

This whale transferred 54.9 million USDC and 56.94 million USDC to the Wintermute OTC wallet today, then received 30,000 ETH ($54 million) and 600 BTC ($56.7 million) from Wintermute.”

Bitcoin is trading at $94,704 at time of writing, while Ethereum is changing hands at $1,795.

Generated Image: Midjourney