A crypto trader missed a life-changing opportunity, selling 2.53 billion HIPPO tokens for a mere $7.5K, only for them to skyrocket in value to over $30 million soon after.
According to Lookonchain, the trader had initially bought the tokens for just 196 SUI ($368) right after HIPPO’s launch on September 28. However, in less than a day, they sold the entire holding for 3,975 SUI, worth only $7.5K.
The HIPPO/SUI Price Actions
In a matter of hours, the value of HIPPO surged, leaving the trader with a significant missed windfall. This event highlights the unpredictable nature of cryptocurrency markets, where early movers can sometimes fail to realize the full potential of their assets before market prices shift dramatically.
The HIPPO/SUI pair has since surged, now trading at $0.01201, an increase of over 10% in the last 24 hours. Despite this positive movement for HIPPO, SUI, the blockchain’s native token, has faced a downturn.
SUI is currently trading at $1.75, reflecting a drop of more than 6% in the last 24 hours, with its global market cap falling by 6.33% to $4.8 billion. However, the trading volume has risen by more than 8%, indicating heightened activity around the token.
SUI Price Down Despite New Initiative on Security
It’s interesting to note that this drop occurs at the same time Sui reaches a significant technological milestone by being the first blockchain to use SCION, a safe substitute for the extensively used Border Gateway Protocol (BGP).
The purpose of SCION is to fix BGP’s flaws, which have made it vulnerable to online routing attacks. Sui’s standing as a top blockchain for dependable and safe infrastructure applications is cemented by this integration.
Sui’s technical achievements are impressive, but as its recent fall shows, the market has not kept up with its developments. This tale serves as a warning about the tremendous volatility of cryptocurrency markets, where huge gains or losses can occur in a matter of seconds.