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:
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.
