NewsletterHere’s How Crypto Trader Went From $5.2M in Profit to Six-Figure Loss
Highlights
- Crypto trader regarded as a diamond hand lost six figures from the peak profit point in LUCE.
- The LUCE token crashed 75% within a day, shifting the trader from a $5.2M profit to a $335k loss.
- The crypto market volatility and investors' changing sentiments are to blame.
The crypto market is still battling against the dominance of bears, where a single crypto trader lost nearly six figures under these conditions. The ongoing Donald Trump trade war is leaving an unsettling experience for investors, where losses have become a common practice. Experts have mixed opinions on the long-term impact of such macroeconomic events. In this blog, let’s discuss how this trader lost millions.
Diamond Hand Crypto Trader Loses Against Market’s Volatility
The Crypto trader with wallet address DBzhE is called ‘diamond hand’ due to its profitable trade history. However, things changed this time. According to the Lookonchain X post, the individual purchased 19.14 million LUCE six months ago at an average price of $0.0275 and has been holding it ever since.
Interestingly, in this span, the holding worth peaked multiple times, bringing an unrealized profit of $5.2M at the peak. However, that changed as the LUCE token price crashed more than 75%. This left the crypto investor with a heavy loss of $335k, and six figures down from the peak profit point.
Why Did LUCE Token Crash 75% Today?
Like most crypto tokens in the current scenario, the LUCE token also became the victim of the crypto investors’ sentiments influenced by the Trump trade war. LUCE is a meme coin and thrived on hype, but when the investors’ sentiments shifted, it resulted in a massive 75% correction.
Due to bears’ dominance, the volatility in the crypto trading market is high. In this case, experts like TDDMM claim LUCE had low liquidity and high volume due to high sellers and low buyers, resulting in the price crash.
More importantly, the LUCE token faced delisting from top crypto exchanges, resulting in its 75% crash today. Due to the same, the aforementioned crypto trader lost a significant profit.
LUCE meme coin currently trades at $0.009146 with a market capitalization of $9.26 M. With the sell-off, now it stands 97.11% from its prime of $0.3273, set five months ago per CoinMarketCap.
Frequently Asked Questions (FAQs)
1. What does the Trump trade war have to do with the LUCE token price crash?
2. How much exactly did the crypto trader lose?
3. How is the LUCE token performing?
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