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Whale Walletmobile Makes $5.94 Million Profit After Betting on Trump’s Victory

Key Points:

The whale walletmobile invested $9.95 million USDC in Trump’s win and sold for a $5.94 million profit.
Whale Walletmobile sells all positions on Trump’s victory after just one hour, securing a big return.

According to monitoring data from Lookonchain, giant cryptocurrency whale Walletmobile has just placed its massive bet on Donald Trump’s victory in the U.S. presidential race.

Crypto Whale Makes $5.94 Million Profit on Trump Bet

The whale placed an impressive 9.95 million USDC to bet on the success of Donald Trump yesterday. However, only one hour ago, “Whale Walletmobile” sold all of its positions related to the outcome of the election of Donald Trump for a remarkable profit of 5.94 million USD.

This swift trade manoeuvre speaks volumes about the volatility and possibly lucrative nature of political betting in the crypto space, where whales and other investors have exploited decentralized platforms to bet on everything from elections. The whale’s sharp profit underlined how such deals can be and are always risky and rewarding.

Political Betting in Crypto Yields Major Profits for Whale

The decision to exit the position after a short period of holding points indicates an on-point trade, and the whale was likely to capitalize on market fluctuations or the expected change in sentiment about Trump’s chances. Meanwhile, tokenized political predictions heat large investors’ bets on the outcome of pivotal political events, generally via stablecoins like USDC, to keep bets stable.

A case in point is the profit of 5.94 million USD, which represents how intermingled crypto assets and political predictions could become. As more whales make similar strategic bets on critical events, this trend could presage a new wave of institutional participation in the crypto market by investors positioning to make the most of political developments in a way never seen before.

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.

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.