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AltcoinsUnveiled The Method One Trader Used to Earn 29 Million in Minutes...

Unveiled The Method One Trader Used to Earn 29 Million in Minutes on the SOL Market

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In recent trading sessions, a remarkable transaction has drawn the attention of market analysts and enthusiasts, highlighting potential market manipulations and their consequences.
An individual managed to make a profit of $2.9 million in less than 20 minutes by using the cryptocurrency SOL to trade the token WATER. This incident has sparked conversations among traders and investors about the impact of such actions on market transparency and investor trust.
According to Lookonchain, a blockchain analytics platform, the events unfolded rapidly. The trader in question created a new wallet and transferred funds from Bybit, a well-known cryptocurrency exchange. Shortly after, the individual bought 612.23 million WATER tokens, which represented 22.71% of the token’s total liquidity pool.
This transaction was strategically timed to coincide with the moment liquidity was added to the market by the token’s deployer. The timing and volume of the transaction suggest a deliberate move to take advantage of market conditions before selling the acquired tokens for a significant profit.
Further investigations from Lookonchain have revealed that the Watercoin development team is also under scrutiny for actively removing negative comments on Bitcointalk. Additionally, after the large transaction mentioned above, the WaterCoin team transferred 844.44 million of the current total supply of 5 billion WATER tokens to 11 new wallets. These wallets, which did not participate in the token’s presale, began selling off WATER tokens from their aggregate holdings of around 18,600 SOL (approximately $2.35 million).
These activities raise doubts about the motives and integrity of the team behind cryptocurrency projects. The spreading of tokens into multiple new wallets, followed by immediate selling, suggests that there may be no genuine desire to see the project succeed in the long term, or worse, that it is a scheme to allow those at the top to profit from high token prices at the expense of the average investor.
The case of WaterCoin and its associated transactions underscores the need for increased vigilance and regulatory oversight in the cryptocurrency markets. While blockchain technology offers unprecedented transparency, the speed and anonymity of transactions can also be exploited for manipulative practices.

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