Amid the highly volatile crypto markets, a whale has grabbed significant market attention by generating incredible profit today. Lookonchain on Saturday showed that the whale earned $1.235 million profit investing in Swarms for just two weeks. SWARMS is a recently launched AI crypto token.
Whale earns returns with Swarms
Data shared by Lookonchain today January 11 showed that the whale made an incredible profit trading Swarms. The whale entered into investment when the asset price was down. He spent $458,000 to buy 20 million Swarms 14 days ago at an average price of $0.0229 for each token.
Today, he sold 5 million Swarms for 7,232 Solana coins (worth $1.35 million). Buying 20 million Swarms tokens for $458,000 means that the cost of the 5 million Swarms sold today was $114,500. This means that the trader turned $114,500 into a profit of $1,235,500 after selling the 5 million Swarms for $1,350,000.
Currently, the trader holds 15 million Swarms (worth $4.02 million), with a total profit of $4.9 million, thanks to a tremendous price increase.
His entry point was strategic and the price rise proved to be beneficial. His decision to hold a significant part of his investments signifies a strategy to profit from some while holding other tokens to capitalize on future price surges. His ability to time his buy and sell at a profit indicates his deep understanding of market dynamics. Today’s market activity signifies a crucial profit-taking strategy, which has contributed to amassing profit when prices are high.
SWARMS price updates
This week, cryptocurrency markets lost their upward momentum regained early this month. Most crypto tokens are depicting sideways movements including alternative assets like AI tokens.
Bitcoin is currently trading at $94,190.96, down 0.7%. Its decline from a high of around $98,000 early this week caused fears across entire digital asset markets, triggering significant liquidations and investors’ uncertainty. Prominent cryptocurrencies like Ethereum and Cardano are currently down 2.1% and 3.9% respectively over yesterday.
Swarms also indicate a consolidation trend from previous price highs, meaning traders and investors are engaging in profit-taking. It is currently trading at $0.2697, down 24.6% over yesterday.
The token has been up 41.90% in the last seven days, meaning that it is outperforming the global digital asset market which is down 7.00% currently. While it reached a new AHT of $0.6055 on January 7, 2025 (four days), its current price is 55.70% lower than the highest price.
Despite its price stability, there have been huge sell-offs. On Tuesday, January 7, a whale offloaded 4.5 million SWARMS for 9,884 Solana (valued at $2.14 million). The sales hinted that big holders could be taking profits or engaging in loss-cutting.
