Key Points:
It is known that this whale used 100x leverage to buy/sell BTC and ETH on Muxprotocol in 8 transactions, but 7 of those orders were liquidated, causing this player a loss of about $377,000.
Andrew Kang is an entrepreneur and cryptocurrency investor. He is the Co-Founder of Mechanism Capital which invests in crypto through backend trading, mining, venture, and secondary market. Kang previously worked in portfolio management and venture capital at Digital Capital Management.
Since 2020, Kang has been deeply involved in many DeFi-related projects, and he is also very active in providing analysis on DeFi projects via Twitter.
Before that, Arbitrum (ARB), a token linked to the popular Layer 2 scaling solution, was seeing a massive 8% price increase. Interestingly, this increase comes as well-known crypto investors, including Andrew Kang, significantly increase their holdings. This bullish activity offers a glimmer of hope after a challenging market period for ARB, which has seen its value drop 29% over the past few days.
It is reported that on June 2, Andrew Kang took an essential step toward the ARB token. He sold all his shares in RDNT, only to reinvest the proceeds in ARB, buying a total of 723,311 ARBs, equivalent to $867,000, at an average price of $1.20 for each token.
Notably, he subsequently proceeded to deposit all of his newly acquired ARB tokens into RDNT Capital, indicating an optimistic outlook on the future performance of the token.
Andrew Kang is using his position to buy ARB through RDNT Capital. By buying ARB, depositing, borrowing USDC, and then buying more ARB, he effectively doubles his investment, demonstrating a solid belief in ARB’s growth potential.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Foxy
Coincu News
With the platform facing a cracked whip, Trump Media company is expanding into new business…
Major crypto firms, including Ripple, Kraken, and Circle, are competing for spots on President-elect Donald…
Analysts highlight a breakout alert as Shiba Inu (SHIB), and Dogecoin show signs of recovery…
SEC Chair Gary Gensler will step down on January 20, 2025, coinciding with President-elect Donald…
The MicroStrategy convertible notes offering, initially set at $1.75 billion, was increased to $2.6 billion…
Discover why Qubetics, Cosmos, and Chainlink are the best cryptos to buy in November 2024.…
This website uses cookies.