Andrei Grachev, founder and CEO of controversial market-making firm DWF Labs, may be about to buy a hefty chunk of the altcoin, according to information provided by cryptocurrency data provider Spot on Chain.
According to the data, 0x3a2, a cryptocurrency wallet that previously sold Prom (PROM) to Grachev, purchased another 112 thousand PROM, equivalent to $1.12 million, through Binance. According to the data, this purchase was made at an average price of $9.95.
According to Spot on Chain, this wallet was previously used to purchase 52,900 PROMs via Binance in December 2023, paying a total of 257 thousand dollars with an average price of $ 4.86. The 0x3a2 wallet then used the 0x3d1 wallet as an intermediary to sell the purchased PROM tokens to Grachev for 500 thousand USDT.
The trade in question took place in February this year and 49,965 PROM units were purchased by Grachev. At that time, with this purchase, the price of the token increased by approximately 75%.
At the time of writing this article, PROM price is trading at $9.81, with a 2.29% decrease in the last 24 hours.
*This is not investment advice.
