A whale has earned an incredible profit of $1.4 million from Mantra (OM) today after the price of the altcoin rose by 33.8%. This expeditious gain highlights the digital asset market’s potential for swift wealth generation.
Mantra whale gains attention with huge profit
This achievement was noticed by crypto analyst, Data Nerd, who identified the whale depositing 300,000 Mantra tokens worth $1.48 million to Binance today. The coins were priced at $4.93 at the time of the transaction, which made him realize a profit of $1.47 million.
Data indicated that the whale bought 17.2 million OM tokens for $485,000 at an average price of $0.028 one year ago. He currently still holds 3.573 million Mantra coins worth $16.97 million. This suggests he has been strategically selling the tokens when prices jump to gain returns.
1 hour ago, a whale 0x502 deposited 300k $OM (~$1.48M) to #Binance with realized profit for those tokens is ~$1.47M.
Last year, he accumulated totally 17.4MM $OM for $485k with avg entry $0.028.
Just now, he still owns 3.573M $OM ~$16.97M
Address:https://t.co/NoMFT9lome pic.twitter.com/ByctvRdvRf
— The Data Nerd (@OnchainDataNerd) January 26, 2025
The trader’s activity highlighted the importance of market timing to make profits. He purchased massive amounts of tokens one year ago when the price of OM was trading at $0.028.
The whale timed his trading activities well. Today, he sold part of his holdings after noticing OM prices reached new heights, making him earn an impressive gain of $1.47 million. He still holds significant amounts of OM tokens, ready to make more returns through exploiting price rise. The current upsurge of OM values signals that increased investors are accumulating the coins, expecting potential growth in the future.
OM price updates
Of late, Mantra has been experiencing massive price uptrends. Today, the altcoin reached a new AHT of $4.96 on Sunday, Jan 26, 2025.
While its price is currently trading at $4.42, up 33.8% over the previous day, it has been up 21.1% in the last seven days. Its trading volume is up 841.40% over yesterday, highlighting recently increased participation from investors and traders.
The ongoing Mantra’s price pump has been fueled by several factors. The token has one of the highest staking yields in the cryptocurrency market. Its current remarkable performance highlights that an increasing number of investors are purchasing the asset to amplify their returns. Its 5.74% staking yield is higher than that of Ethereum’s 4.11%, Polygon’s 2.58%, Algorand’s 4.5%, and others.
The recent Mantra price rise came after Blackrock CEO Larry Fink urged US regulatory authorities to approve tokenized stocks and bonds. OM is one of the top protocols that specialize in the tokenization of real-world assets (RWA).
Its price has been seeing upward momentum following Mantra’s strategic partnership with Dubai’s Damac Group early this month. With this collaboration, Mantra is set to tokenize Damac’s widespread portfolio, which includes fashion, capital markets, manufacturing, resorts, hotels, and real estate.
Mantra has been up for the past several weeks, highlighted by its 28.9% price jump in the last 30 days. This is an indicator that increasing numbers of investors are acquiring it.
Read the full article here
