In a significant development, a crypto trader has invested in $Swarms after massive gains. As per Lookonchain, the trader has acquired 8 million $Swarms after pocketing $1.5 million in gains in the previous $Swarms trade. The on-chain analytics platform provided the details of the crypto trader’s big bet on $Swarms on social media.
A trader who previously made over $1.5 million in profit on $Swarms bought another 8 million $Swarms ($2.8 million) at an average price of $0.35, 6 hours ago.
Earlier, this trader bought 6.18 million $Swarms at $0.13 and sold at $0.38, earning more than $1.5 million.
Lookonchain asserted that, a few hours back, the crypto trader bought 8 million $Swarms tokens for up to $2.8 million. This acquisition indicates an average price of nearly $0.35 for each token. In this respect, the trader has displayed an enormous faith in $Swarms following substantial gains. In line with the market data, the crypto trader purchased 6.18 million $Swarms earlier at a per-token price of $0.13. Subsequently, the trader sold the respective tokens at $0.38. This move reportedly resulted in a profit of over $1.5 million.
The resilient gains from the respective trade denote the ability of the trader to precisely capitalize on the market movements. Hence, the trader leveraged the price volatility of the $Swarms token. In addition to this, the latest purchase signifies the trader’s increasing confidence in the crypto token in terms of further growth.
According to Lookonchain, the trader’s immense investment in $Swarms could point toward a bullish sentiment for the crypto token. This may likely attract more investors pursuing huge gains. Nonetheless, this also underscores the risks related to speculative trading within a highly volatile market.