Murad Mahmudov-labelled wallets from abstracts aggregator
DropsTab advance that the influencer sits on $68 actor in memecoin profit.
Crypto broker Murad Mahmudov is sitting on tens of millions
of dollars in abeyant profits from memecoins, according to blockchain data,
abacus ammunition to the advancing agitation over his “memecoin supercycle”
thesis.
Data from the onchain abstracts aggregator DropsTab shows that Mahmudov holds over
$70 actor in memecoins, with aloof $1.86 actor in basic invested. That puts his
absolute abeyant accumulation at about $68.3 million.
The abstracts shows his bigger champ is a memecoin declared
SPX6900 SPX $1.38,
which surged over 10,500% in the accomplished year. His access amount on SPX
was $0.01036, but the badge now trades at $2.24. Based on the data, his
accumulation from SPX abandoned exceeds $66 million.
Apu Apustaja APU $0.0002957
is the worst-performing memecoin in Mahmudov’s holdings. Since the memecoin
beneath by 53%, his advance has alone by over $86,000.
With Mahmudov captivation tens of millions in SPX, affairs
the tokens could appulse the price.
Being a articulate adherent of the token, Mahmudov
offloading it could arresting to investors that the “supercycle” may accept
accomplished its peak, triggering a sell-off.
The memecoin supercycle thesis
Mahmudov is the crypto broker abaft the memecoin supercycle
thesis. In his presentation at Token2049 Singapore 2024, he said the crypto
amplitude is entering a different era area meme-driven tokens beat acceptable
agenda assets like Bitcoin BTC $118,452 and Ether ETH $3,816 by advanced
margins.
Mahmudov presented the memecoin supercycle as a new bazaar
appearance apprenticed by culture, association character and virality, rather
than technology or fundamentals.
He said memecoins action beneath like accepted banking
assets and added like agenda cults or communities affiliated by amusement and
belief.
The trader’s advance of meme-based tokens admiring criticism
from blockchain investigator ZachXBT. In 2024, ZachXBT allegedly appear
Mahmudov’s wallets so the association can adviser his trading activities.
The crypto sleuth accused Mahmudov of authoritative
adventurous memecoin predictions “while authoritative the supply.”
ZachXBT acicular to the declared wallet’s acquirement of MIN
bill on July 16, which was done an hour afore a column about accepting 1% of
the supply.
Memecoin bazaar surges 54% in July
The memecoin area had surged to a aerial of $85 billion on
Wednesday, up about 54% compared to its appraisal of $55 billion on June 30. At
the time of writing, the bazaar had adapted to $78 billion, still up by 41%
compared to its closing appraisal in June.
The contempo memecoin bazaar billow admiring capricious
sentiments from association members. Neiro association advance S declared
memecoins crypto’s “most adorable segment.”
At the aforementioned time, Xion CEO Anthony Anzalone said
that the asset class’s billow agency that basic has boilerplate bigger to go.
Solana co-founder Anatoly Yakovenko afresh admiring
criticism from the Solana memecoin association for his animadversion on
meme-based tokens. Yakovenko sparked altercation on Sunday afterwards anecdotic
memecoins and NFTs as “digital slop.”
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