Mystery Trader Makes Massive $237,000 Profit Selling Right Before BONE and SHIB Plummet Amid Shibarium Mayhem
Shibarium, a much-anticipated platform, faced technical issues a mere few hours post its official launch. This unexpected glitch has led to a series of repercussions in the cryptocurrency market.
The immediate aftermath saw a significant drop in the prices of $BONE and $SHIB, with declines of 15% and 7% respectively. Furthermore, a substantial amount of 964.46 $ETH, equivalent to $1.73M, remains locked on the Shibarium cross-chain bridge according to the tweet by on-chain analyst Spot On Chain. To add to the concerns, the official Shibarium page is currently inaccessible, leaving many in the community anxious and seeking answers.
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Show more +In a related incident, a prominent trader known for their strategic trades, made a notable move. This individual, identified by the address 0x00bd, sold a whopping 146.9K $BONE for $237K $USDC at a rate of $1.612. This sale occurred approximately at the local peak, a mere 8 hours before the $BONE price experienced a sharp 19% decline. This decline is believed to be a direct consequence of the technical issues Shibarium faced post-launch.
It’s worth noting that this particular trader has showcased an uncanny ability to sell $BONE at its highs. Their trading prowess has earned them a staggering $866K, marking a 30.4% profit solely from $BONE trades. As of now, this trader holds no $BONE in their portfolio.
The community remains divided on these developments. While some are optimistic about a swift resolution to Shibarium’s technical challenges, others express concerns over the platform’s stability and the potential impact on the broader crypto market. As always, the world of cryptocurrency remains dynamic, and only time will reveal the long-term implications of these events.
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