Trader GCR, one of the most well-known names in the cryptocurrency world, made some transactions tonight, according to onchain data.
According to the data, GCR sold a large amount of TRUMP, a politically themed memecoin. According to the data, the trader sent 466,000 TRUMP coins worth $2.4 million to cryptocurrency exchange MEXC, causing a massive drop in the price of the altcoin.
The trader purchased these memecoins at an average price of $0.75 between December 9, 2023 and January 19, 2024, and paid a total of $703,000 to obtain 936,000 TRUMP.
Judging by the current price, GCR currently has 470,000 GCR tokens remaining, worth $2.28 million, and the total profit is around $4 million.
We also see GCR active in prediction markets regarding the US Presidential Elections. The trader, known for his pro-Trump transactions, recently canceled his Trump investments on Polymarket and moved them to other prediction markets that showed Trump had a lower chance of winning.
*This is not investment advice.