According to Lookonchain, trader 0xacbf purchased 6.15 million MARSCOIN for 133,000 USDT after CZ burned 4,444 MARSCOIN. Subsequently, CZ announced the discontinuation of the public address, causing MARSCOIN’s price to drop over 90%. Trader 0xacbf liquidated their position for 22,400 USDT, resulting in a loss of $110,700 within two hours.
Trader Loses $110,700 in 2 Hours After Buying MARSCOIN Following CZ’s Actions
AiCoinShare
Summary
A trader lost $110,700 in two hours after purchasing MARSCOIN, an altcoin to watch, following CZ’s token burn and public address announcement. The trader spent 133,000 USDT to acquire 6.15 million tokens. After the crypto price plummeted over 90%, the position was liquidated for 22,400 USDT. The sharp decline occurred after CZ ceased using public addresses. MARSCOIN remains on the altcoins to watch list due to its volatility.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.