A crypto trader has recently gained a noteworthy profit on $PENGUIN. In this respect, the trader obtained a net profit of nearly $739,000 on a $PENGUIN position. However, as per the data from Lookonchain, the overall portfolio losses of the trader persist. Nonetheless, this short-term gain spree has gained market-wide attention.
Trader Gains $739K in Unrealized Profit via $PENGUIN
The market data reveals that the trader with the wallet “7fFCzx” has generated a massive $739,000 via a $PENGUIN position. Even then, irrespective of such an explosive short-term profit, the trader’s portfolio still has persistent losses. Specifically, the cumulative P&L loss of the trader stands at nearly $1.3M.
The trader’s wallet shows a history of more than 1K token trades, underscoring a 14.55% win rate. This highlights a low-precision and high-risk strategy. Additionally, the trader carried out 14 swap transfers. Noteworthy swaps take into account $667 in $SWOL and $3,764.21 in $USDC. Despite the latest profit, the trader’s realized PnL stands at -17.47% while $0.0124 is the average sell price and $0.0144 is the average purchase price. Moreover, the PnL data also discloses that selling even one percent of the trader’s portfolio will result in a loss of $700K, presenting a really grim picture.
PnL Remains $1.3M Down as Portfolio Losses Overshadow Short-Term Win
According to Lookonchain, the trader’s exclusive $739K profit via $PENGUIN emerges as a dramatic win, giving relief to the troubled portfolio. The respective spike also indicates the potential of meme tokens in providing outsized profits in short periods. At the same time, it also displays the risk of depending on isolated profits when it comes to offsetting long-term losses. Ultimately, while this profit is a good sign, the PnL ratio of the trader remains down by almost $1.3M.
Source: https://blockchainreporter.net/trader-nets-739k-on-penguin-amid-persistent-overall-losses/
