Odaily Planet Daily reports, according to Lookonchain monitoring, after suffering losses of over $16 million on FRIEND, Machi (@machibigbrother) placed a $1 million bid for Friendtech, driving the price of FRIEND up nearly 30-fold. A wallet suspected to belong to an insider (0x2078...0929), which had been inactive for six months, spent $4,700 to purchase 2 million FRIEND tokens. After the price surge, the wallet sold all 2 million FRIEND tokens for 20.25 ETH ($50,800), realizing a profit of 18.37 ETH ($46,000)—a return of nearly 10x.
Machi buys Friendtech for $1M after a $16M loss; FRIEND token surges 30x
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Summary
Machi bought Friendtech for $1 million after a $16 million loss, sending FRIEND up 30x. A suspected insider wallet (0x2078...0929) purchased 2 million FRIEND for $4,700 and sold them for 20.25 ETH, earning $46,000. The ETH price rose in tandem with the token surge. The wallet’s 10x gain underscores sharp ETH analysis based on on-chain activity.
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