Ethereum

Cult DAO

<p>In a significant example of precise high-stakes trading in the crypto market, an Ethereum whale has carried out a lucrative snipe on the $CULT coin. As per Lookonchain, the whale obtained a net profit of up to $1M in a short period from $CULT sniping, highlighting the surging sophistication by the traders in the <a href="https://blockchainreporter.net/defi-decentralized-finance/" rel="noopener noreferrer nofollow">DeFi</a> sector.</p><h2 id="header-0">Ethereum Whale Snipes on $CULT to Pocket $1M with 500 $ETH</h2><p>Lookonchain mentioned that the whale’s journey to successfully snipe $CULT for $1M in profit started with 500 $ETH. The whale deployed these <a href="https://blockchainreporter.net/ethereum-price-predictions-2023-2031/" rel="noopener noreferrer nofollow">$ETH tokens</a>, with a value of up to $1.99M, to get 467.64M $CULT coins. A key aspect of this maneuver’s success was the utilization of a substantial 100 $ETH (equaling $398,000) as a bribe fee. This ensured the priority of their transfer in execution before the others. The respective strategic development permitted the trader to dominate status in the case of $CULT.</p><p>After the accumulation, the above-mentioned wale started offloading portions of the token holdings. In this respect, the whale leveraged the favorable price developments. Hence, they offloaded 267.64M $CULT coins for 432 $ETH (accounting for $1.72M). This partial offloading locked in enormous profits and left the whale with 200M $CULT coins. These tokens currently have a value of $1.32M.</p><h2 id="header-1">The Incident Highlights the Precise Decision Making and High-Stakes Trading</h2><p>This trade emphasizes high-stakes trading as well as decision-making. In this case, meticulous planning is used to mitigate the huge risk of dropping a massive capital amount. In addition to this, there is a requirement for deep knowledge of the overall market dynamics. With the payment of the bribe fee, the respective whale effectively secured a dominant status in $CULT before likely price inflation due to other buyers. According to <a href="https://lookonchain.com/" rel="noopener noreferrer nofollow">Lookonchain</a>, this $CULT snipe offers a reminder of the unpredictable and dynamic nature of the crypto sector.</p>

Ethereum Whale Makes $1 Million Profit from $CULT Token Sniping

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