Don’t Be Like This Whale: Bet Heavily on These Altcoins, Lost Big

The recent surge in popularity of Chinese-named altcoins has ushered in a new wave in the market. However, this trend has resulted in significant losses for some major investors.

According to Onchain data, the whale “0x2fcf” recently withdrew 5,090 $BNB (approximately $6.65 million) from Binance to invest in Chinese memecoins. In the last 24 hours, the investor reportedly spent 3,475 $BNB (approximately $4.54 million) on the tokens 币安人生, 客服小何, PUP, and 哈基米, totaling approximately $1.2 million in losses.

The detailed table of the whale's operations is as follows:

• USD: 2,555 $BNB ($3.33 million) to buy 8.97 million tokens – $439,000 loss
• USD 客服小何: Purchase of 16.31 million tokens with 760 $BNB ($993,000) – $700,000 loss
• dolarPUP: 5.19 million token purchase with 105 $BNB ($137,000) – $47,000 loss
• dollar哈基米: 4.84 million tokens purchased with 55 $BNB ($67,000) – $5,000 loss

Meanwhile, Ethereum founder Vitalik Buterin unlocked another 6.29 million $STRK (approximately $1.01 million) in tokens after a year's delay. Buterin, who acquired 2.1 million $STRK last year, deposited these tokens on Binance at $0.38 on November 6, 2024.

*This is not investment advice.