Summary Two whale wallets accumulated 572.56 million PUMP tokens worth approximately $3.58 million as the token recorded substantial daily price gains. PUMP futures turnover exceeded $1.04 bi
PUMP’s rally attracted multimillion-dollar whale activity as two wallets accumulated tokens and futures trading surpassed $1 billion. According to Lookonchain, the wallets accumulated a combined 572.56 million PUMP tokens worth approximately $3.58 million.
One buyer, known as netherlol, purchased 383.34 million tokens for roughly $2.4 million, accounting for the larger transaction. Lookonchain identified this acquisition as netherlol’s first PUMP purchase in more than a year.
Separately, wallet GnZqfY withdrew 189.22 million PUMP tokens worth approximately $1.18 million from cryptocurrency exchange MEXC. The transaction transferred a substantial token balance away from the exchange, while netherlol’s purchase marked renewed buying activity.
Together, these transactions equaled approximately 3% of PUMP’s reported $121.4 million spot trading volume during the measured period. Netherlol represented roughly two-thirds of the combined accumulation, with GnZqfY accounting for the remainder through its MEXC withdrawal.
PUMP traded around $0.006426, gaining approximately 17.5% over 24 hours, while another CoinGlass reading placed the increase near 18%. Across seven days, the token advanced approximately 46%, outperforming the broader cryptocurrency market during that period.
Its longer-term performance included a roughly 294% increase over 90 days and gains exceeding 235% since January. Alongside those gains, PUMP’s market capitalization reached approximately $3 billion, adding context to the scale of the whale transactions.
Also Read: EGRAG Maps XRP’s $7 Trillion Scenario With $110 Billion as First Breakout Gate
Derivatives markets recorded significantly heavier trading, with PUMP futures turnover exceeding $1.04 billion during the reported 24-hour period. Spot volume reached approximately $121.39 million, leaving futures turnover around 8.6 times higher over the same interval.
Meanwhile, CoinGlass placed open interest near $672.28 million, reflecting the total value of outstanding PUMP derivatives positions. These figures put outstanding derivatives exposure above five times the token’s reported daily spot trading volume.
Liquidations reached approximately $3.14 million over 24 hours, with short positions accounting for around 78% of the total. Most liquidation losses therefore fell on traders positioned against the token’s price advance during the measured trading period.
Separate Lookonchain updates documented contrasting outcomes for large traders, including forced liquidations during a price decline and profitable long positions.
On October 3, Lookonchain reported that a sudden PUMP decline liquidated two traders holding a combined 707.6 million tokens. Those positions carried an estimated value of $3.61 million, almost matching the dollar value of the reported whale accumulation.
Elsewhere, Machi Big Brother recorded 10 profitable PUMP trades, adding another prominent trader to the token’s recent trading activity. According to Lookonchain’s September 30 update, Machi closed a PUMP long position and realized approximately $827,000 in profits.
PUMP’s whale accumulation coincided with substantial price gains, while derivatives markets recorded billion-dollar turnover and contrasting outcomes for large traders.
Also Read: Pat LaVecchia: Early Life and Net Worth – The Oasis Pro CEO Advancing Tokenized Finance
The post PUMP Whales Accumulate $3.6 Million as Futures Trading Tops $1 Billion appeared first on 36Crypto.
