A infamous pockets, sbfonchain.sol, shows renewed meme token exercise. Beforehand, the whale has been recognized to be an early holder of peak memes, although not at all times reaching the perfect returns.
A Solana self-importance deal with, sbfonchain.sol, has been busy up to now day, shifting funds into new meme tokens. The pockets, suspiciously named after the initials of Sam Bankman-Fried, will not be essentially linked to the previous founding father of the FTX alternate. Nevertheless, the pockets is curious sufficient to trace for meme token insights, whereas displaying indicators it might be associated to FTX in some type. The pockets turned extremely energetic, simply because the FTX liquidator major pockets began sending out SOL to Binance and the Coinbase scorching pockets, in preparation for the 2025 payout to collectors.
The self-importance area was reserved on December 13, 2023, with a value of $20. Since then, sbfonchain.sol entered and exited a number of meme token markets, typically absorbing losses from dangerous strikes.
Solana whale strikes into RIZZMAS
The Solana whale, outfitted with hundreds of thousands in USDC, made a current dangerous wager right into a just-launched token. Rizzmas (RIZZMAS) rallied quickly after sbfonchain.sol purchased in, breaking out from $0.00002 to $0.00007.
Tokens like RIZZMAS can rally extra if the meme proves common. This time round, sbfonchain.sol entered at a comparatively early stage, including the brand new high-risk asset. The allocation to RIZZMAS was comparatively small, simply $50,000. The earlier two transactions have been at a much bigger scale – a complete of $1.1M allotted to Fartcoin, and $995K to purchase CHILLGUY.
The self-importance deal with holds 0.28% of the RIZZMAS provide. Monitoring the deal with via Bubblemaps confirmed a snapshot of a high-activity cluster with one other deal with. The counterparty pockets holds 0.41% of the RIZZMAS provide, a bit over 2B tokens.
What’s much more curious, the counterparty pockets can also be the holder of tokens bearing the ticker FTX, with the identical brand because the defunct alternate. The tokens held in that pockets aren’t a random quantity – the proprietor has precisely 69,420 FTX tokens.
One of many counterparties to sbfonchain.sol is a holder of precisely 69,420 FTX tokens. | Supply: Solscan
The brand new asset is barely symbolically associated to the FTX market however raises suspicions of the identification of the meme token whales. That very same pockets will not be an idle holder of FTX tokens, however an energetic dealer engaged in one other high-activity buying and selling cluster.
On the identical time, the sbfonchain.sol pockets doesn’t maintain any of the FTX meme tokens. FTX is an especially risky asset with simply $19K in liquidity locked, however tries to make its manner amongst memes. The token was launched whereas legacy merchants have been nonetheless engaged with the previous FTT token on Binance, amid rumors that the bull market might result in a relaunch of FTX in one other type.
Vainness pockets recognized for dangerous strikes up to now yr
Prior to now 24 hours, the sbfonchain.sol pockets purchased WIF valued at $4.67M. Later, the dealer bought at a loss for $4.07M, forward of rolling over into new tokens. The dealer’s strategy is to maneuver quick between tokens, till managing to realize a profitable commerce.
The pockets will not be solely dropping – inside just a few hours of the WIF loss, a profitable commerce liquidated CHILLGUY for SOL, later swapping the proceeds into USDC. Inside lower than an hour, the pockets elevated its USDC holdings from $600K to $1.05K. The pockets bought 1.6M CHILLGUY for 3,707 WSOL. Moreover, sbfonchain.sol liquidated 1.6M UBC tokens for 668.76 SOL. The SOL was then traded via Jupiter for 1.048M USDC in complete.
The sbfonchain.sol pockets made two profitable trades with WBC and CHILLGUY. | Supply: Solscan
The sbfonchain.sol pockets is not any stranger to dangerous meme token bets. In October, the pockets was the largest holder of MANYU tokens, simply earlier than promoting quickly, resulting in a forty five% worth crash. The dangerous dealer bought at a loss, solely to ape into AI coin for an additional roll of the cube.
On the finish of September, sbfonchain.sol was among the many largest patrons of MOODENG, as famous by Nansen’s evaluation. Since then, the pockets divested all MOODENG and moved quickly into new tokens.
Again in Could, the identical deal with jumped between WIF and one other dangerous token, HAMMY. This was one of many first situations of the whale’s behavior of dumping tokens and rolling over into new holdings.
