According to Lookonchain monitoring, after Binance announced the launch of DEGEN contract trading, a whale sold 6.43 million DEGEN and obtained 70.78 ETH (219000 US dollars). Between April 8th and May 10th, the whale spent 934 ETH ($3.42 million) to buy 140.71 million DEGEN at an average price of $0.0243. After holding for over 6 months, the whale finally made a profit, currently earning $790000. @rtinwarpcast

This highlights the volatility and potential profitability of trading DEGEN contracts. The whale's strategy of accumulating at a lower price and holding for several months paid off significantly. It will be interesting to see how the market reacts to this sale and if others follow suit or if this creates a downward pressure on the price.