A cryptocurrency whale made an important trade today as the price of the Hooked Protocol (HOOK) altcoin rose.
Hooked Protocol (HOOK) Whale Makes Load Transfer to Binance Exchange
According to blockchain data, the whale wallet deposited all 512k HOOKs 50 minutes ago at $1.17 ($600k) on Binance. This represented 5.25% of HOOK's trading volume at the time.
The same wallet had accumulated 1.08 million HOOKs ($1.1 million) from Binance from $1.02 to June 20-22 prior to the price increase and then staked them all to earn rewards from the Hooked Protocol platform.
This move by the Whale wallet resulted in an estimated profit of $78k (ROI: 15%) in just four days if he actually sold all of his HOOK tokens on Binance.
Moreover, the whale wallet still has 577,000 HOOKs, of which $85,000 has been unrealized.
Hooked Protocol (HOOK) is a gamified social learning platform that aims to accelerate Web3.0 adoption by providing customized learning and earning resources and onboarding support for businesses looking to engage with Web3.0.
The project was launched on Binance Launchpad, the token launch platform of the world's largest crypto exchange, on November 24, 2022.
*Not investment advice.