Hot Take: GCR Holds Large Amounts of Moons (MOON) Token, Potential Bullish Catalyst
Pseudonymous trader GCR, known for taking a $10 million bearish bet against Terra’s LUNA cryptocurrency, is now reportedly holding a significant amount of Reddit’s community token Moons (MOON). According to onchain expert Prithvir Jhaveri, GCR bought around 450,000 MOON tokens at an average price of 40-45 cents. This confirms claims made in a trending Reddit post by user Nutcase420.
Key points:
– GCR allegedly purchased 450,000 MOON tokens from the MEXC exchange and transferred them to Kraken via Arbitrum Nova.
– Moons (MOON) is an ERC-20 token distributed as a reward for engagement in the r/CryptoCurrency subreddit.
– The Kraken deposit address associated with GCR has previously received large amounts of ether from GCR’s Ethereum name service domain.
– Prithvir Jhaveri conducted on-chain analysis to confirm the association between GCR and the Kraken address.
– Social media users view GCR’s MOON holdings as a potential bullish catalyst for the token, with speculation of further positive developments such as listing on Coinbase.
The recent surge in MOON’s price, which increased by over 50% after its listing on Kraken, further adds to the speculation surrounding GCR’s holdings. This development highlights the unpredictable nature of the crypto market and the influence that influential traders can have on specific tokens.
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