Nearly 10x Returns on FRIEND: Dormant Wallet for Six Months Earns $46,000 Profit

A wallet that had been inactive for six months turned a $4,700 purchase of FRIEND into approximately $46,000 in realized profit.

The cryptocurrency analytics platform Lookonchain has uncovered a notable trade in the FRIEND token. A wallet starting with 0x2078 purchased approximately $4,700 worth of FRIEND (1.88 ETH) after a long period of silence and sold the tokens following the price surge.

The wallet purchased a total of 2 million FRIEND tokens for 1.88 ETH. The address, which remained inactive for about six months, offloaded its tokens for 20.25 ETH, or roughly $50,800, through the sale. This resulted in a realized profit of 18.37 ETH, or approximately $46,000.

FRIEND trade yielded nearly 10x returns

In their post, Lookonchain described this address as a suspicious insider wallet prior to the FRIEND transaction. However, the post did not provide any definitive identity regarding the wallet owner. According to on-chain records, the difference between the purchase and sale indicates that the profit resulted from the completion of the sale, not just the tokens gaining value while held in the wallet.

The sharp movement in the FRIEND price was driven by developments surrounding Friend.tech. Machi Big Brother, known as Machi, offered $1 million to acquire Friend.tech after suffering losses of over $16 million in the FRIEND token. Lookonchain reported that the FRIEND price surged approximately 30x during these developments. The increase in token price and the wallet’s roughly 10x return do not represent the same measurement; the wallet’s result is based on the difference between its specific purchase and sale prices.