A strategic whale has moved billions of Pump.fun (PUMP) tokens from the Hyperliquid DEX platform to the Binance centralized exchange, drawing attention to a possible sale intention. According to data shared today by the market analyst Spot on Chain, the whale moved 1.23 billion PUMP tokens worth $7.65 million from Hyperliquid to Binance. The investor pocketed a massive profit of $592,000 after 59 days of holding the tokens in the DEX platform. This price appreciation has left unsold tokens at an impressive profit, showing the growth potential of the Pump meme coin.

A smart whale, with $37.4M in profit, moved 1.23B $PUMP (~$7.65M) from #Hyperliquid to #Binance for sale ~8hrs ago, likely pocketing $592K (+8.4%) after 59 days!

Current positions (all profitable):
• Long: 21,797 $SOL (~$5.18M) with 7x leverage
• Short: 7.12M $WLFI (~$1.43M)… pic.twitter.com/I63dx6perp

This investor’s strategy involved holding the PUMP coins for a period of time (in his case, 59 days). This shows his strong understanding of market dynamics and timing, and use of efficient analytical tools, combined with advanced asset management strategies. By holding the assets for 59 days, the investor took advantage of short-term price movements and market trends to seize returns.

As stated in the data, the whale’s current positions are all profitable, proof that opportunities are present in volatile virtual currency markets. Based on the data, the whale holds a 7x leverage long position in 21,797 SOL ($5.18 million), a 2x leverage short position in 7.12 million WLFI ($1.43 million), and spot and staked 993,882 HYPE ($55.8 million). The investor’s market performance has attracted substantial interest from market participants due to his ability to generate huge returns using leveraged positions and a mixture of various investment strategies.

The investor’s intention to sell massive Pump.fun tokens raises concerns about potential impacts on PUMP’s price and investor sentiment. The move to sell the coins may trigger a bearish sentiment in the PUMP market, with other large token holders could decide to offload their tokens. As a result, this could trigger downward pressure on PUMP, particularly during its ongoing uptrend momentum.

However, the investor’s decision to take the profit is completely reasonable, based on the massive returns already made. PUMP’s price currently stands at $0.006042, representing an increase of 39.1% and 51.6% noted over the past week and month, respectively. With its trading volume rising to $443 million (a 120% surge over the past 24 hours) and its market cap climbing to $2 billion, this indicates strong investor interest and active participation in the new meme coin.

This impressive price action happens as   Pump.fun continues implementing its buyback program. On September 2, the meme coin Launchpad network announced an aggressive buyback initiative for its native PUMP token. So far, the program has removed 12.2 million worth of PUMP tokens from circulation.  Another key driver for the token’s recent price movement is the listing of PUMP on Binance.US. On September 10, Binance.US opened trading of PUMP in the crypto trading platform, a launch that significantly boosted the demand for the asset.

177 +