- A crypto investor withdrew 174 ETH and acquired 2 trillion LADYS for $0.0000001504.
- The dealer later offered memecoins for less than 73.5 ETH for $0.00000006142.
- Lookonchain shared the main points and warned its followers in regards to the dangerous nature of memecoins.
Community researcher Lookonchain uncovered a latest whale exercise during which an investor misplaced 100 ETH for the Milady memecoin LADYS. In accordance with the analyst, the dealer withdrew a considerable amount of ETH value $321,000 to purchase an enormous variety of LADYS, which he later offered at a major loss.
Lookonchain exposes the dangerous nature of memecoins by illustrating the instance of a dealer who misplaced 100 ETH on memecoin:
In accordance with the findings of the cryptocurrency researcher, the dealer withdrew 174 ETH from the cryptocurrency trade Gate.io and on Could 12. purchased practically 2 trillion LADYS for $0.0000001504. He later offered these memecoins for less than 73.5 ETH. $0.00000006142.
memecoin is at present buying and selling at $0.0000000673, up 21.64% within the final 24 hours. LADYS has a 24-hour buying and selling quantity of $70,202,077 and its present market cap is $49,956,978.
Comparatively, the present worth of the main cryptocurrency misplaced by a dealer because of LADYS is $1,798.26 with a 24-hour buying and selling quantity of $7,833,163,894. A comparability of the worth of each digital currencies within the present cryptocurrency market is apparent sufficient to spotlight the depth of the losses incurred by the dealer.
Notably, the cryptocurrency group is at present flooded with memecoins, and merchants are more and more excited about them. For instance, the frog-themed memecoin Pepe has been hoarded by the group over the previous few weeks, ultimately inflicting its worth to plummet. In such a situation, Lookonchain warned its followers in regards to the dangerous nature of memecoins, asking them to guard their funds.
Disclaimer: The views and opinions, in addition to all data shared on this worth evaluation, are revealed in good religion. Readers ought to do their very own analysis and do their due diligence. Any actions taken by the reader are strictly at their very own danger. Coin Version and its associates is not going to be held answerable for any direct or oblique injury or loss.
