A popular trader, going by Whale 0xd1c, has restarted the $OM tokens’ accumulation following a 7-month pause. As per Spot On Chain, a prominent on-chain analytics platform, this resumed $OM accumulation by Whale 0xd1c signals a renewal in confidence and interest in this crypto asset. The analytics provider took to X to discuss the latest activity of the trader.
A smart trader resumed accumulating $OM after 7 months.
Whale 0xd1c withdrew 2.71M $OM ($3.8M) from Binance via three transactions two hours ago.
The last similar action was seven months ago when it withdrew 12.3M $OM from Binance and staked it all.
He has an unrealized profit… pic.twitter.com/s2ba1brjIU
— Spot On Chain (@spotonchain) October 28, 2024
Whale 0xd1c Withdraws 2.71M $OM Tokens from Binance
In its recent X post, Spot On Chain mentioned that the Whale 0xd1c has withdrawn 2.71M $OM tokens from Binance. This extraction of up to $3.8M from Binance took place in 3 transfers within just 2 hours. This development reflects an analogous action by this whale 7 months back. At that time, the whale redeemed a bigger sum of up to 12.3M $OM coins from Binance. Then, the trader staked the whole amount soon afterward.
The Trader Gets $15M in Unrealized Profit Over Only 7 Months
The former $OM accumulation by the whale has emerged as extremely profitable. After the former accumulation, the trader now stands on remarkable unrealized gains of $15M after only 7 months. This enormous profit denotes both the strategic timing of the whale in the $OM accumulation at suitable moments as well as the resilient appreciation in the value of the token.
The recent action of whale, as it restarts $OM accumulation, signifies the confidence thereof in the $OM token’s future performance. Though the details at the back of the timing are still speculative, the respective accumulation may point toward the whale’s anticipation of further gains.
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